People walking out of the ATO Office.
Share this @internewscast.com
Australians paid over a quarter of a trillion dollars in income tax during the 2022-23 financial year, but there were several millionaires who did not pay anything.

The Australian Taxation Office (ATO) published its yearly statistics for 2022-23 this morning, showing that it collected an impressive $577.4 billion in tax, up from $530.1 billion the previous year.

The bulk of that – some $298 billion, or 51.6 per cent – came from personal income tax, companies paid a further $140 billion or 24.2 per cent, and the GST made up 14.2 per cent or $81.7 billion of the nation’s tax burden.
People walking out of the ATO Office.
The ATO has revealed it collected more than half a trillion dollars in tax for 2022-23. (AFR/ Luis Enrique Ascui)

But despite Australians’ significant collective income tax bill, there was a large handful of ultra-wealthy earners who didn’t contribute to it.

Out of the 24,350 individuals identified by the ATO as earning over $1 million, there were 24,211 who paid income tax, leaving 139 who, due to various deductions, did not have to pay any taxes.

Work expenses were the most common type claimed in 2022-23, with Australians claiming a collective $28.3 billion in them.

In addition to income and corporate tax and the GST, excises on products like tobacco, fuel, and alcohol brought in $25.4 billion, while superannuation taxation generated an additional $24 billion for the government.

But the petroleum resource rent tax (PRRT) – the fee energy companies must pay to extract oil and gas, theoretically ensuring Australians benefit from the use of the country’s natural resources – was only a miniscule revenue driver.

A photo of shoppers in the Queen St Mall. Population, economy, demographics, people, Australia, generic
Australians paid a combined $298 billion in income tax. (Glenn Campbell)

Combined with the luxury car (LCT) and wine equalisation (WET) taxes, it raised just $4.2 billion for government coffers – less than a single per cent of the nation’s overall tax bill.

Meanwhile, the ATO statistics revealed surgeons have remained the most highly paid professionals in the country with an average income of $472,475.

The eastern Sydney postcode of 2027, which covers the seaside suburbs of Pipers Point, Edgecliff and Darling Point, remained the wealthiest in the nation.

The average income in the area is $279,712.

Share this @internewscast.com
You May Also Like
Iran's leader emerges from hiding to claim 'hand slap to America's face'

Iran’s Leader Resurfaces, Declares ‘A Blow to America’s Face’

Iran Supreme Leader Ali Khamenei has claimed victory over Israel, saying his…
A courtroom sketch of Erin Patterson.

Jury advised to cautiously evaluate Erin Patterson’s statements regarding mushroom incident

Jurors cannot find mushroom cook Erin Patterson guilty of murdering her lunch…
Israel divided over Trump's vow to 'save' Netanyahu from trial

Israel Split Over Trump’s Promise to Rescue Netanyahu from Trial

US President Donald Trump’s recent request to dismiss Israel Prime Minister Benjamin…
Black ice causes serious multi-car crash in Victoria

Severe Multi-Car Collision in Victoria Triggered by Black Ice

The Victoriangovernment says it will investigate whether black ice warning signs were…

A Tragic Sacrifice Was Needed for Naomi to Receive Crucial Medical Treatment

Exclusive: Naomi Best was given two days’ warning before she had to…
PERTH, AUSTRALIA - OCTOBER 31: A note is seen in memory of Cassius Turvey on October 31, 2022 in Perth, Australia. Cassius Turvey, 15, died in a Perth hospital last Sunday after he was violently assaulted in Middle Swan. Turvey was walking in the area with friends when he was assaulted. His death has triggered a wave of outrage across Australia, with many vigils and memorials taking place in several cities demanding justice. (Photo by Matt Jelonek/Getty Images)

Life Sentences Given to Killers of Indigenous Teen Cassius Turvey

Warning: This story contains the name and images of a deceased Indigenous…
Neighbours of luxury five-star hotel blindsided by social housing plan

Residents Near Luxury Five-Star Hotel Surprised by Social Housing Proposal

A five-star luxury hotel located in East Perth has been acquired by…

Papua New Guinea Announces National HIV Emergency

As transmission rates soar, Papua New Guinea has declared a national HIV…

NATO Leader Justifies Use of ‘Daddy’ Comment as Trump Explains It Was Said ‘Affectionately’

NATO’s secretary-general has defended referring to United States President Donald Trump as…
Sydney, housing, homes, New South Wales

Exploring the ‘World-Leading’ $1 Billion Housing Guarantee Plan: How Does It Operate?

A $1 billion initiative marketed as “world-leading” and an “Australian first” aims…
Crackdown on cancer-linked 'forever chemicals' could cost Aussies big

Cancer-associated ‘forever chemicals’ ban may hit Australians financially

New strict regulations have been established for “forever chemicals” linked to cancer…

Anna Wintour to Retire as Editor-in-Chief of US Vogue

Anna Wintour has stepped down as editor of US Vogue after 37…