Who pays the most tax in Australia, Plus Clues Behind The News | Macro Insights with Ken Raiss
Description
In today’s Macro Insights Podcast, Ken Raiss and I examine who really pays tax in Australia, and the results may surprise you.
We also share what the average wage and superannuation balance in Australia is, and I bet these figures will surprise you.
We also discuss the latest statement from APRA about its 3% mortgage assessment buffer we will tell you what time of the week you’re most likely to get scammed?
As somebody interested in growing your wealth or property, there will be lots in the show for you.
Takeaways
· Australian Taxation Office’s 2022–23 tax‑return snapshot (approximately 16.1 million lodgements) to paint a portrait of the “average 100 Australian.
· Out of those 100 Australians, 21 pay no income tax at all. None. Zip.
· Meanwhile, just 3 individuals contribute nearly 30% of all net income tax. Add in the next 6, and you’re up to nearly 50%. And the next 30 take it to almost 90%.
· So 39 Australians (out of 100) are footing almost the entire tax bill.
· The average super balance is around $173,000; the median is just $60,000. What does that tell us?All eight capital cities recorded house price growth in the June quarter.
· Westpac reveals the time of day you’re most likely to be scammed is Tuesday afternoon
Chapters
00:00 Understanding Australia's Tax Landscape
04:15 The Role of High Income Earners in Taxation
06:37 Income Disparities and Superannuation Challenges
09:24 The Impact of APRA's Mortgage Serviceability Buffer
12:00 Scams and Consumer Awareness
14:35 Infrastructure Needs for Population Growth
Links and Resources:
Answer this week’s trivia question here- www.PropertyTrivia.com.au
· Win a hard copy of Michael Yardney’s Guide to Investing Successfully
· Everyone wins a copy of a fully updated propert
United States
