How does your superannuation balance compare to the average?
The average super balance grew 5% to $172,000 at the end of the 2022-23 financial year, new statistics from the Australian Taxation Office (ATO) reveal.
Women had an average superannuation balance of $154,641, while men had $192,119. The median was $54,349 and $68,568 respectively.
Men continue to have higher balances across all age brackets except for 70- to 74-year-olds, where women had $215,202 and men had $214,749.
The ATO's breakdown of income tax positions of individuals, companies, trusts, super funds and partnerships shows it collected $577.4 billion in total tax revenue in the 2022-23 financial year.
Some 4.2% ($24 billion) came from super funds, while individuals contributed the highest share, accounting for 51.6% of the total ($298 billion).
At 24.2%, companies contributed $140 billion, while 4.4% ($25.4 billion) came from excise tax.
At the individual level, the ATO found that Sydney's Edgecliff, Darling Point, Rushcutters Bay and Point Piper residents earned the highest average taxable income of $279,712.
Double Bay residents made $255,901 on average while Woollahra residents earned $242,267.
Victoria's Toorak and Hawksburn were the fourth top-earning suburbs with $241,511, on average.
Surgeons continue to be the highest-paid occupation with the 4247 individuals reporting an average taxable income of $472,475 in the 2022-23 financial year.
Anesthetists made $447,193 on average while financial dealers earned $355,233.
Chief executives and managing directors were in the ninth spot making $194,987 on average, while financial investment advisers or managers made $191,986.
The Australian Capital Territory gave the highest median amount when it comes to donations ($245), while Western Australians made the biggest donations on average ($11,534).
Companies reported net tax of $140 billion, which was up 9.2% year on year.
The biggest company tax liability came from the mining industry, with the industry's net tax growing from $42.3 billion to $54.4 billion year on year.
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