High-income earners and Australian companies paid record shares of all tax collected in 2021-22, with the top 1 per cent of earners forking out almost one-fifth of personal tax revenue.
Figures released by the Australian Taxation Office on Monday showed the average individual tax bill for the top 1 per cent of earners hit $443,544.91 in 2021-22, according to analysis by The Australian Financial Review.
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Michael Read is the Financial Review's economics correspondent, reporting from the federal press gallery at Parliament House. He was previously an economist at the Reserve Bank of Australia and at UBS. Connect with Michael on Twitter. Email Michael at michael.read@afr.com
Tom McIlroy is the Financial Review’s Canberra Bureau Chief based in the press gallery at Parliament House. He was previously the AFR’s political correspondent. Connect with Tom on Twitter. Email Tom at thomas.mcilroy@afr.com
