The annual Taxation Statistics report presents an overview of Australia's 16 million income tax returns over the past financial year, including for individuals. From this data, it's possible to get a snapshot of the highest paid jobs in the country. Here are the top ten!
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According to the most recent ABS data, the average Australian income is $60,892 per year. However, this number is pretty meaningless if you're trying to work out the mode or median: the wages at the very top and bottom invariably skew the results.
If you really want to know how your income compares to the Australian average, you need to focus on people in similar circumstances to yourself. The WageSage website attempts to do the hard work for you: it limits the results to people who share your age, location and gender for much higher accuracy.
It's hard enough to manage your money on a steady, regular income. When your income varies from month to month as someone who's freelancing or self-employed, keeping your finances organised is even more of a pain. From my experience, you need a system. Set it up once, and it protects you forever. Here's the system I use.
When politicians talk about tax and fairness, it's easy for them to point out undeserved loopholes benefiting the wealthy, or multinational companies. But the elephant in the room is the difference between those who own and those who rent (or have recently bought and have huge mortgages) the house they live in. The tax advantages of housing offend against justice on every count: they place financial stresses on the poor, they are unequal, and the increase in price is not deserved.
If you want to boost your professional value and build a better career, you'll want to diversify and hone your skills. Personal finance writer David Carlson suggests periodically searching job postings to learn which skills are in demand.
Ideally, we'd all earn what we deserve and our employers would give us raises according to our skill level, experience, and professional value -- we'd never even have to ask. Of course, reality doesn't usually work out that way. As author Chester Karrass has said: "You don't get what you deserve. You get what you negotiate."
Over the past few months, petrol prices in Australia have fallen to record lows. Some motorists have been paying as little as 99 cents per litre; a price not seen in this country in more than half a decade. So what’s causing petrol prices to plummet so dramatically? We take a look at where the situation currently stands, along with some ways it could save you money beyond the bowser.