The Australian Taxation Office (ATO) has announced the top 10 richest postcodes in Australia, with Sydney’s Double Bay taking the top spot. With an average income of $354,308 in the 2021-22 income year, Double Bay residents have earned the nickname ‘Double Pay’. Perth’s Cottesloe and Peppermint Grove, home to billionaire mining magnate Andrew ‘Twiggy’ Forrest, ranked second on the list with an average income of $295,283, further solidifying Sydney’s dominance on the list.
The next highest earners were in Sydney harbourside suburbs Darling Point, Edgecliff and Point Piper, which have the postcode 2027, with an average income of $269,777. Notable residents include former Prime Minister Malcolm Turnbull who shares a waterfront mansion in Point Piper with his wife Lucy.
The ATO also revealed the most lucrative professions with surgeons retaining the top spot earning an average of $460,356.
This was followed by anaesthetists with average earnings of $431,193, followed by financial dealers at $373,733 who were the only non-medical professionals to break into the top six.
The average taxable income in 2021-22 was $72,327. However, the median income (which strips out very high and low earners) was $53,041.
