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Australian taxpayers have reached a new milestone in tax contributions. The average Australian now pays $29,751 annually in taxes when combining federal, state, and local government levies—an all-time high fueled by economic growth and job market strength.
$802 Billion in Total Taxes Collected in FY 2023–24
The Australian Taxation Office (ATO) reports that total tax revenue hit $801.7 billion, up $46.2 billion (or 6.1%) from the previous financial year. This increase reflects a stronger economy, low unemployment, and rising wages.
Breakdown:
- $24,097 per person in federal taxes
- $29,751 total tax per person (after including state and local taxes)
What’s Driving the Record Tax Collection?
- Wages growth: 3.5% increase across the financial year
- Employment levels: Unemployment at a low 4.1% as of June
- Property market: Strong real estate performance continues to boost stamp duty and land tax revenues
- Commodity exports: Global demand, especially for minerals and gas, pumped up corporate tax returns
How Does This Affect the Average Aussie?
The per capita tax load—almost $30,000—means taxpayers are contributing more than ever to national and local budgets. While this can help fund critical services and infrastructure, it also raises questions around:
- Cost-of-living pressures
- Net benefits from increased revenue
- Calls for tax reform or offsets
Key Stats At a Glance
| Category | Amount |
|---|---|
| Total tax revenue | $801.7 billion |
| YoY growth | +$46.2 billion (6.1%) |
| Federal tax per person | $24,097 |
| Total tax per person | $29,751 |
| Wage growth (FY 2023–24) | 3.5% |
| Unemployment rate | 4.1% |
What to Watch in 2025–26
As the 2025–26 financial year unfolds, taxpayers, economists, and policymakers will be watching:
- Any changes to personal income tax brackets
- Inflation-linked adjustments in tax thresholds
- Future budget allocations using this record revenue
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