If you earn a total income of $375,378 a year or higher, congratulations; you are in Australia’s top 1 per cent of taxpayers.
And if your total household gross income is above $531,652, your household earns more than 99 per cent of Australian households.
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Michelle Bowes writes about wealth from our Sydney newsroom. She has more than 20 years of experience as a business journalist and is the author of Money Queens: Rule your Money, an award-winning personal finance book for teenage girls. Email Michelle at michelle.bowes@afr.com