‘s top 10 richest postcodes have been revealed with Sydney dominating the list.
Double Bay on Sydney Harbour – often nicknamed ‘Double Pay’ – was again crowned ‘s richest postcode with an average taxable income of $354,308 in the 2021-22 financial year – or more than three times the average, full-time salary of $98,218.
Sydney’s eastern suburbs had five places on the top 10 list of highest-earning postcodes, with the city’s lower north shore and northern beaches having another two positions.
Melbourne had two spots on the top ten list while Perth had one elite postcode, as Sydney took out seven of the top 10 positions based on average salaries minus tax deductions for work and renting out a property.
Perth’s Cottesloe, the home of mining billionaire Andrew Forrest, was second on the list, with an average, taxable income of $295,283.
Melbourne entered the list in fourth place with Toorak in the city’s inner east having an average, taxable income of $266,020, behind Darling Point and Point Piper’s $269,777 in Sydney’s east.
Bellevue Hill, also in Sydney’s east, was fifth with an average, taxable income of $245,728, putting it ahead of nearby Dover Heights and Vaucluse on $239,974.
Portsea, on the edge of Melbourne’s Mornington Peninsula, was seventh with a taxable income of $221,867, and is home to trucking magnate Lindsay Fox.
Palm Beach, on the northern edge of Sydney’s northern beaches, was eighth with a taxable income of $216,262, as the postcode best known for the Barrenjoey Lighthouse and the set of Home and Away.
Hunters Hill, on Sydney’s lower north shore, was ninth with a taxable income of $215,456 with Woollahra, in Sydney’s east, rounding out the top 10 with an average income of $215,123.
When it came to the most lucrative professions, surgeons were the best paid with an average, taxable income of $460,356, followed by anaethetists on $431,193, financial dealers on $373,733, internal medicine specialists on $340,729, psychiatrists on $276,545, other medical practitioners on $255,754, mining engineers on $214,365, judges on $204,934, chief executives on $197,720, and financial investment advisers on $185,834.
Just 117,930 ns earned $421,936 or more – making them the top 0.8 per cent of the nation’s 15,935,395 taxpayers.
The average wage was $69,994 in 2021-22 which included a period when Sydney and Melbourne were in Covid lockdown.
1. DOUBLE BAY (2028): $354,308
2. COTTESLOE, PEPPERMINT GROVE (6011): $295,283
3. DARLING POINT, POINT PIPER, EDGECLIFF (2027): $269,777
4. TOORAK, HAWKSBURN (3142): $266,020
5. BELLEVUE HILL (2023): $245,728
6. VAUCLUSE, DOVER HEIGHTS, ROSE BAY, WATSONS BAY (2030): $239,974
7. PORTSEA (3944): $221,867
8. PALM BEACH, COASTERS RETREAT, CURRAWONG BEACH, GREAT MACKERAL BEACH (2108): $216,262
9. HUNTERS HILL, WOOLWICH (2110): $215,456
10. WOOLLAHRA (2025): $215,123
Source: n Taxation Office average taxable income data for 2021-22