The Australian Taxation Office (ATO) has released its latest annual Taxation Statistics data. Taxation Statistics 2021–22 contains data extracted from tax returns and related schedules for individuals, companies, superannuation funds, partnerships, and trusts for 2021–22, as well as from other information provided to the ATO, such as activity statements, for the 2022–23 financial year.
Taxation Statistics provides detailed and valuable insights into the Australian economy.
The 2021–22 data shows trends of the population from easing COVID-19 impacts, in particular a dramatic fall in both JobSeeker and COVID assistance payments. On the other hand, the data shows individuals continue to work from home, claiming other work-related expenses.
What’s new in the 2021–22 data
There is one new detailed table included, relating to trusts. The new table includes data from Attributable managed investment trusts (AMIT) income tax returns and schedules, for the 2017–18 to 2021–22 years.
Points of interest from the 2021–22 data
- The total tax revenue collected by the ATO for 2021–22 was $530.1 billion:
- 50.3% came from individual income tax ($266.7 billion)
- 24.2% came from companies ($128.1 billion)
- 14.3% came from GST ($76 billion)
- 5.5% came from super funds ($29.1 billion)
- 4.3% came from excise ($22.6 billion)
- 1.5% came from FBT, PRRT, LCT and WET ($7.5 billion).
- The average superannuation account balance decreased from $170,000 in 2020–21 to $164,000 in 2021–22, and the median account balance decreased from around $60,000 to just under $58,000.
- Overall net rent for 2021–22 was $6 billion, up from $3.2 billion in 2020–21.
- Net capital gains reported by individuals rose from $36 billion in 2020–21 to $51 billion in 2021–22.
- The postcode with the highest average taxable income ($354,308) was 2028, which covers Double Bay in the eastern suburbs of Sydney.
- Surgeons were again the highest paid occupation in 2021–22, with 4,170 individuals reporting an average taxable income of $460,000.
- In total, the biggest tax liabilities were from the mining industry (33% of company net tax), followed by financial and insurance services (23.2%).
- Luxury car tax increased by 11% to $978 milion while wine equalisation tax remained stable.
For the full breakdown of the 2021–22 statistics, visit ato.gov.au/taxstats
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