Sixty-six Australian millionaires paid no tax last year: ATO
Sixty-six millionaires earning almost a billion dollars put together paid no tax last year, according to new data from the ATO.
Highly skilled accountants were able to get their clients out of over $400 million in tax.
Those accountants were paid an average of $219,000 for their services, which was also tax deductible.
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Dozens of wealthy Australians were able to pay no tax last year thanks to clever accounting tricks. iStock
Data from the Australian Tax Office (ATO) showed that those wealthy tax dodgers made an average of $14.5 million each last year.
The median income in Australia last year was $51,000, and the average Australian paid more than $11,000 in tax.
The report from the ATO showed that just short of half of its revenue came from individual income tax.
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Companies paid 22 per cent of tax in Australia, or $107 billion.
Another 15 per cent came from GST, with the balance coming from super funds, excise and various other taxes.
The ATO also released other interesting data about Australian taxpayers.
Surgeons were the highest paid profession in Australia, with an average income of $457,000.
The postcode with the highest income was Sydney's Double Bay.
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