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What is Australia’s richest suburb?

Written by Heidi Cuthbert Published Jan. 20 2026Last Updated Jan. 20 2026

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Well, grab a champagne flute and a slice of avocado toast, because the Australian Taxation Office has graced us with its annual Taxation Statistics report for the 2022–23 year.

And what a delightful read it is for anyone living in a post-code that isn't 2027 (Darling Point, Sydney).

The headline, of course, is that the economy is "bouncing back" to "pre-COVID conditions."

Excellent.

For whom, you ask?

Why, for the 4,247 surgeons who, once again, heroically held the line as the highest-paid occupation in the country, pulling in an average taxable income of nearly half a million dollars.

It's a truly heartwarming tale of consistency, with surgeons bravely maintaining their top spot since 2010.

Then we have the average taxable income in postcode 2027, the hallowed grounds of Sydney's eastern suburbs, clocking in at a cool $279,712.

It's just a bit more than the national average, you see.

So much for the great Australian dream of a fair go.

Apparently, the dream now comes with a postcode lottery, and if you didn't win, you're just not trying hard enough.

Perhaps if we all moved to Darling Point, we'd magically become surgeons.

The report also highlights the magnificent generosity of Australia's largest companies, particularly the mining industry.

They were responsible for a staggering 39% of all company net tax, with their contribution soaring from $42.3 billion to $54.4 billion.

It's a powerful reminder that while the rest of us are busy contributing to a massive 51.6% of the nation's total tax revenue through our individual incomes, the real heavy lifting is done by digging things out of the ground.

Truly, the backbone of our society is made of iron ore and coal. Bless their profitable hearts.

But let's not overlook the plucky individuals among us, the 10.3 million who, in a bold display of fiscal responsibility, claimed an average of $2,739 in work-related expenses.

That's a total of $28.3 billion in deductions, or, as I like to call it, the collective national sigh of every Australian trying to buy a work uniform or claim a bit of their phone bill back.

We are, it seems, a nation of meticulous receipt-keepers, clawing back every dollar we can while the top 1% get to enjoy a whole different tax bracket.

It’s all about working smarter, not harder, right? Just ask the guys in 2027.

And what about our superannuation balances?

The average account balance rose to a respectable $173,000.

This is, of course, an average, which means it’s inflated by the soaring balances of those who don't have to choose between putting food on the table and making an extra contribution.

Averages are a wonderful tool, aren't they?

They smooth out all the inconvenient bumps of reality, like the fact that many Australians are still staring down the barrel of a retirement on the poverty line.

But hey, the average is up! Pop the corks!

The ATO has even included new data sets this year.

Now, we can slice and dice company data by entity size and taxable income. This is fantastic.

We can now pinpoint exactly which mega-corporations are paying what, so we can all feel better about the fact that they're thriving while our wages stagnate.

And let's not forget the increase in Luxury Car Tax, up by a phenomenal 17.9%.

It's a beautiful indicator of a healthy, functioning economy where a select few are splurging on vehicles that cost more than most people's homes.

You can almost feel the trickle-down effect… of envy.

So, while the ATO report is a masterful piece of data analysis, let's read between the lines.

It's a celebration of a two-tiered Australia: one where surgeons and mining moguls are thriving, and another where the rest of us are meticulously tracking our deductions and hoping our superannuation doesn't get wiped out by the next global downturn.

It's not a report on economic recovery; it's a glowing tribute to wealth inequality.

For that, we can all raise a glass. Just make sure you can afford the wine first.