TaxStats for postcode 2011 FY2013

Postcode 2011 includes Elizabeth Bay, Hmas Kuttabul, Kings Cross, Potts Point, Rushcutters Bay, Woolloomooloo, Woolloomooloo in New South Wales, and is in the federal electorate of Wentworth.

In FY 2013 the ATO recorded 14,535 individuals in postcode 2011. Of these people, 14,440 made a taxable income or loss. 11,810 of the population paid a gross amount of tax. After tax offsets, 11,170 people actually paid a net amount of tax. There were 3,270 non-taxable people who paid net tax of $0.

Compare TaxStats of 2011 with NSW

2011 TaxStats FY2013%Ppl#Ppl2011
Total Individuals100%14,535
Salary or Wage 84%12,195$70,460$859,259,702
Gross Interest58%8,435$3,593$30,305,345
Unfranked Dividends8%1,120$1,562$1,749,735
Franked Dividends21%3,045$25,658$78,127,714
Dividend Franking Credit21%3,030$11,049$33,479,536
Capital Gains4%635$52,220$33,159,411
Termination Payouts2%305$25,570$7,798,875
Tips/Directors Fees etc13%1,875$8,591$16,107,713
Business Income11%1,535$32,004$49,126,824
Foreign Income7%965$4,794$4,625,910
Government payments4%550$5,470$3,008,261
Government pensions2%285$10,780$3,072,310
Total Income or Loss100%14,475$86,707$1,255,086,546
Charitable Gifts33%4,800$4,981$23,908,733
Cost of Tax Affairs46%6,655$976$6,494,648
Work Car expenses13%1,920$3,726$7,153,858
Work Travel expenses17%2,455$2,146$5,268,812
Self Education expenses6%900$2,849$2,564,056
Total Deductions78%11,350$6,477$73,515,090
Taxable Income99%14,440$81,387$1,175,221,329
Medicare Levy 70%10,155$1,564$15,885,432
Medicare Surcharge 3%450$1,228$552,487
Gross Tax 81%11,810$27,157$320,725,969
Net Tax 77%11,170$29,518$329,714,702
Average Tax 100%14,535 $22,684$329,714,702
Gross Tax Rate 81%11,810 33%$320,725,969
Net Tax Rate 77%11,170 36%$329,714,702
Average Tax Rate 100%14,535 28%$329,714,702
%PPL is rounded Percentage of total individuals used in the average (AVG).
#PPL is the number of individuals used to calculate the average (AVG).
*Tax Rates calculated from Taxable Income.
*Treat each stat/line item separately. Columns while related do not total due to different numbers of people used in each calculation.

The average taxable income was $81,387. It is estimated that the average taxable income for people who paid a net amount of tax was $101699.

The average net tax paid was $29,518. This equates to an average tax of 36 cents in the dollar on taxable income.

The Medicare levy was paid by 10,155 people for an average of $1,564. 450 people paid $1,228 on average more for the Medicare surcharge.

12,195 people earned a salary or wage and took home an average of $70,460 each.

Government allowance and payments were collected by 550 people for on average $5,470. 285 people received the pension or other allowance.

Charitable gifts and donations of an average of $4,981 were made by 4,800 people.

The costs of tax affairs for 6,655 people were claimed for $976 each.