Adelong residents richest in region

Adelong residents richest in region

The Australian Tax Office have released their data from 2014-15, and it won’t come as a surprise to many that the Snowy Valleys are chipping in millions of dollars to the government coffers through their income tax.

Residents of the ‘2720’ postcode, centred around Tumut, handed over $43,931,462 in tax last year. The median individual rate was $9,550 per person.

Batlow, and the rest of the ‘2730’ postcode, forked over $5,378,698, and the median tax paid by each individual was $6,970.

Adelong, 2729, contributed $8,686,762, at a median rate of $10,130 per individual.

It seems that, then, assuming everyone is paying their tax correctly, Adelong has the highest median income in the region.

At the same time, there were 8,436 forms of welfare claimed in the former Tumut shire last year, or 4,848 not including cards such as the pensioner concession card or the health care card.

Nationwide, the suburbs with the individuals paying the most income tax, by postcode, are: 2027 (NSW) Darling Point, Edgecliff, Hmas Rushcutters, Point Piper; 2030 (NSW) Dover Heights, Hmas Watson, Rose Bay North, Vaucluse, Watsons Bay; 3142 (VIC) Hawksburn, Toorak; 2023 (NSW) Bellevue Hill; 3944 (VIC) Portsea; 2088 (NSW) Mosman, Spit Junction; 2110 (NSW) Hunters Hill, Woolwich; 2063 (NSW) Northbridge; 6011 (WA) Cottesloe, Peppermint Grove; and 2025 (NSW) Woollahra.

Mosman made the largest total contribution in income tax, with Mosman residents chipping in $1.1 billion in a single year.

On the other end of the spectrum, out of approximately 9000 postcodes in Australia, there are 15 postcodes where the residents collectively receive more in welfare than they pay in income tax, with the only one in NSW being Mount Druitt.

The biggest form of welfare nation-wide is the aged pension, with one in every three welfare dollars going in that direction. The aged pension is followed by various forms of assistance to families with children, the disability support pension, unemployment and sick payments, assistance to veterans and their families, and then payments for Indigenous Australians.