00:00These millionaires earned on average $3.8 million each and paid zero tax.
00:08Now how, you ask?
00:09Well, like much of us do it, they claim tax deductions, so $280 million worth of tax deduction,
00:18almost $280 million claimed by this group of taxpayers.
00:23By far the biggest cohort of deductions claimed by this group, $240 million worth, was tax
00:31deductible donations to charities.
00:34The rest were for other things that all of us can claim again, so things like the cost
00:39of managing your tax affairs, so an average of $200,000 each claimed for that particular
00:46deduction.
00:47Of the top ten postcodes, seven were actually in Sydney, so the Sydney suburb of Double
00:52Bay had the greatest taxable income, with the average resident earning more than $354,000.
00:58WA's Cottesloe and Peppermint Grove, which share the postcode 6011, were also near the
01:06top of the list with an average taxable income of more than $295,000.
01:12The next highest earners were actually in Sydney postcode 2027, which takes in the harbourside
01:17suburbs of Darling Point and Edgecliff.
01:21Here the average taxable income was almost $270,000.
01:26Now in terms of the poorest, they tend to be where students reside, so you had the University
01:32of Newcastle area postcode 2308, and the next was University of New South Wales area, both
01:40had average taxable incomes of almost $21,000.
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