What is the top 5% income in Australia?

State comparison

What percentage of total income do the bottom 20% of income earners in Australia earn?

The average household gross income is $116,584, however the top 20% of households earn 48% of all income. Twelve times more than the bottom 20% who are left with just 4% of Australia’s income.

What is the top 20 percent income in Australia?

The rich are getting richer The average wealth of those in the top 20 per cent is $3.25 million, which is 90 times more than those in the bottom fifth, who have an average of $36,0000. Those in the lowest 10 per cent hold $8000 in average net wealth, while the bottom 5 per cent have net debts of $5000.

What income puts you in the top 10% of earners?

The top 5% of households, three quarters of whom had two income earners, had incomes of $166,200 (about 10 times the 2009 US minimum wage, for one income earner, and about 5 times the 2009 US minimum wage for two income earners) or higher, with the top 10% having incomes well in excess of $100,000.

Who is considered rich in Australia?

Wealthy Individuals within Australia are generally deemed to be those with net investible assets (NIA) over $1M (or net of over $2.5M including the family home) and earning more than $250,000 per annum. Having said this, the ATO categorise ‘Wealthy Individuals’ as those who control a net wealth of $5M or more.

What’s the average income of the top 10% in Australia?

The average income of the top 10% of income earners is almost 9 times higher than that of the bottom 10% in, up from a ratio of 8 to 1 in the mid-1990s. Across the OECD, this ratio is 9.6:1, on average. The annual average income in Australia is also considerably higher than the OECD average.

What is the level of income inequality in Australia?

The level of income inequality in Australia is similar to the OECD average, with a Gini coefficient of 0.326 in 2012. Inequality has increased since the 1990s, as in many other OECD countries. The average income of the top 10% of income earners is almost 9 times higher than that of the bottom 10% in, up from a ratio of 8 to 1 in the mid-1990s.

How is the income distribution in Australia compared to the OECD?

Across the OECD, this ratio is 9.6:1, on average. The annual average income in Australia is also considerably higher than the OECD average. The rise in inequality came to a halt just before the global financial crisis, with a drop in the Gini by 1 point.

What are the percentages of people in Australia?

These data are presented as a proportion of all people. Source: Unpublished data from the ABS 2003–04, 2005–06, 2007–08, 2009–10, 2011–12, 2013–14 and 2015–16 Surveys of Income and Housing; Table S1.4.21.