Australia's top 1 per cent accounted for 7.7 per cent of the nation's total pay.
180,000 Australians in the top 1 per cent earned an average of just under $400,000 a year before tax. To join the wealthiest 1 per cent, you had to earn at least $211,000. 1.8 million Australians in the top 10 per cent of income earned above $88,000 and accounted for nearly 29 per cent of total income
By comparison, the 18,000 people in the top 0.1 per cent of income earners earned over $600,000, and had an average income of over $1.1 million.
Professor Wilkins said the statistics could not account for tax avoidance or evasion. “The tax data is only what gets declared to the tax office, and it is pre-tax, so there is always the potential that what has been declared isn’t the whole story.”
The top 1 per cent in the US raked in 17.5 per cent of that nation's total income, the United Kingdom,12.9 per cent of total income, and New Zealand, where the top 1 per cent earned 8.1 per cent of total income.
From here
180,000 Australians in the top 1 per cent earned an average of just under $400,000 a year before tax. To join the wealthiest 1 per cent, you had to earn at least $211,000. 1.8 million Australians in the top 10 per cent of income earned above $88,000 and accounted for nearly 29 per cent of total income
By comparison, the 18,000 people in the top 0.1 per cent of income earners earned over $600,000, and had an average income of over $1.1 million.
Professor Wilkins said the statistics could not account for tax avoidance or evasion. “The tax data is only what gets declared to the tax office, and it is pre-tax, so there is always the potential that what has been declared isn’t the whole story.”
The top 1 per cent in the US raked in 17.5 per cent of that nation's total income, the United Kingdom,12.9 per cent of total income, and New Zealand, where the top 1 per cent earned 8.1 per cent of total income.
From here
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