With the Federal Budget being passed today, we’re bound to see a lot of discussion about its impact on families/battlers/home owners/insert-your-own-category. One key element in that discussion will be how much the typical individual or household actually earns — a figure that’s quite complex to nail down but lower than you might expect.
Australian currency picture from Shutterstock
Blogger and statistician Matt Cowgill runs through the numbers quite thoroughly, using the most recent available data in a range of categories, including average and median wages, average income for taxpayers, and gross and net income for households. The entire post is well worth checking out for an appreciation of the different ways incomes can be measured.
However, there’s one key point that stands out: claims that anyone earning a six-figure salary is “doing it tough” don’t have an awful lot of merit. If you earn above $105,461 in taxable income, you are earning more than 90 per cent of taxpayers. Hit the post for the full set of figures and a lot more context.
What is the typical Australian’s income in 2013? [We Are Not Dead]
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