The average entry level salary in Australia is $62,000 per year or $31.79 per hour. Entry-level positions start at $55,000 per year, while most experienced workers make up to $87,932 per year.
The median salary in Australia in 2023 is 6,650 AUD (USD 4,420) per month. The median salary refers to the middle value of all the salaries considered. In other words, around half of the population in Australia earns less than 6,650 AUD per month, while the other half earns more.
$100,000/year is above an average salary and if you're frugal enough, on $100,000/year, you should be able to live a good life and save some money too. Usually if you consider living in desirable locations of cities like Melbourne and Sydney, most of your income will be consumed in the house rents.
So a taxpayer with an income of $80,000 a year is therefore in the top 20 per cent of Australians.
"A small percentage of high-income earners make average income statistics look impressive, but the reality is that the typical middle-class Australian is actually earning a $50,000 salary," Ms Browne said.
Officially, the average wage is $75,000 a year, but that is skewed by a small number of very high income earners. In reality, around 70 per cent of tax payers actually earn less than the average wage. If pensioners are included in this count, four out of five Australians earn less than the average.
If you make $70,000 a year living in Australia, you will be taxed $14,617. That means that your net pay will be $55,383 per year, or $4,615 per month.
Average Australian Salaries in 2023
That is to say, half of all employees in Australia earned more than this, and half earned less. A taxable income that was $131,501 or higher was within the top 10% of earners in Australia last year. About 5% of taxpayers had incomes above $180,000.
Approximately 58% of the Australian population is considered to be part of the middle class. What is the average annual income range for the Australian middle class? The average annual income range for the Australian middle class is between AUD 46,000 and AUD 140,000.
If you make $120,000 a year living in Australia, you will be taxed $31,867. That means that your net pay will be $88,133 per year, or $7,344 per month.
If you make $100,000 a year living in Australia, you will be taxed $24,967. That means that your net pay will be $75,033 per year, or $6,253 per month.
How much income tax do I pay if I make $100,000? If your taxable income is $100,000 a year as an Australian resident for tax purposes, your income tax will be $22,767. Your average tax rate is 22.77% and your marginal tax rate is 32.5%.
Someone earning $200,000 a year would be among the top 3.5 per cent of Australians who fall into the top tax bracket which cuts in at $180,000 a year. Mr Derbas suggested in the video that singles living in the Harbour City would do incredibly well on the same salary.
Meanwhile, collaborative database Expatistan estimates the current cost of living in Australia is roughly $3,803 per month for a single person or $7,064 per month for a family of four, just for the bare essentials.
You might not be surprised to learn that the jobs with the highest salary in Australia are those in the medical industry. Australian Taxation Office data shows medical practitioners are the top earners nationwide, with surgeons averaging $406,068, anaesthetists at $388,814 and internal medicine specialists at $310,848.
Overall, Canberra remains the most expensive capital city to rent a house in, with median weekly rents sitting at $690. Sydney takes second place at $650 per week, followed by Darwin ($620 per week), Hobart ($550 per week), and Brisbane ($550 per week).
From 1 July 2022 you may be eligible for the low income tax offset only, if you earn up to $66,667. Between 2018–19 and 2021–22, you may have been eligible to receive one or both of the: low income tax offset – if you earn up to $66,667.
Middle-income class refers to households with income between 75% and 200% of the median national income. Upper-income class refers to households with income above 200% of the median national income.
The average month salary in Australia is $90,000 per year or $46.15 per hour. Entry-level positions start at $70,000 per year, while most experienced workers make up to $135,197 per year.
Advisory giant Accenture consistently pays consultants the highest starting salary compared to the big four consulting firms, with PwC and Deloitte vying for second place at different experience levels.
The main reason Australia ranks so highly on individual income tax levels is because Australians don't pay separate social security taxes. These account for an average 25.9% of total tax revenue, or close to 9% of GDP, across the OECD.
If you make $75,000 a year living in Australia, you will be taxed $16,342. That means that your net pay will be $58,658 per year, or $4,888 per month.