- Australia’s average taxable income for all workers was $ 62,549 in 2018-19
- Surgeons and anesthetists typically charge six times more than the average
- The tax office has released a detailed breakdown of earnings from two years ago.
A worker with an average salary in Australia receives only one sixth of what a specialist doctor receives.
Average taxable income, ranging from casual workers to full-time professionals, is $ 62,549.
The Australian Tax Office has released a full breakdown of what workers earned in 2018-19.
Australia’s 4,150 surgeons had the highest pre-tax salaries of $ 394,303.
Anesthetists were next with median salaries of $ 386,065 and 3,412 of them filed a tax return.
Medical specialists ranked third on the list with median taxable income of $ 304,752.
Financial traders had a median salary of $ 275,984 ahead of psychiatrists ($ 235,558), physicians ($ 222,933), legal professionals ($ 188,798), mining engineers ($ 184,507), CEOs ($ 164,896). ) and engineering managers ($ 159,940).
Australian full-time workers had an average salary of $ 89,000 at the end of last year, which puts them well above the average taxable income reported by all workers.
But the typical worker who works at least 38 hours a week only earns a quarter of the wealthiest professionals, who are more likely to have a medical degree.
While the rich have gotten richer, or at least stayed rich, Australian wages have stagnated below the long-term average of three percent since mid-2013.
However, bosses are in a better position to offer salary increases to their most talented staff with the National Australia Bank Business Conditions Index for May hitting a record high.
Trading, profitability, forward orders and employment were at their best levels since the NAB monthly series began in March 1997.
Job vacancies are at levels not seen since late 2008, during the early stages of the global financial crisis.
ANZ’s job posting series showed a 7.9 percent increase in May to 213,894 available positions.
Ads have risen for 12 consecutive months and are more than triple the level of 66,887 from the previous year.
The number of available positions is also 38.9% higher than the level of 153,976 in February 2020 before the World Health Organization declared a pandemic.