THE Sydney suburb of Edgecliff is the Australia's richest with income of more than $186,000 a year

Australia's richest and poorest suburbs named | News.com.au

THE Sydney suburb of Edgecliff and surrounding area is the nation's richest with an average income of more than $186,000 a year.

That's more than $20,000 ahead of Toorak in Victoria, which is Australia's second wealthiest suburb with a mean income of more than $165,000.

Victoria's Portsea is the third richest, with an average income of just over $160,000 but down nearly 30 per cent on the previous tax year. Portsea topped the nation's wealthiest suburbs in 2006-07 with an average income of $219,345.

Tax office data released yesterday revealed the country's wealthiest and poorest areas for the 2007-08 tax year, as well as how much tax we're paying and how much we're deducting.

The data also provides an insight into the disparity between the nation’s richest and poorest workers.

The residents of Sydney’s 2027 postcode – which include Westfield's Frank Lowy with an estimated worth of $4.2 billion - earn $159,000 more than the country’s poorest area, which the ATO names as Callaghan.

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Callaghan is the area covering the student halls of residence at NSW's University of Newcastle. The average income is just over $27,000.

State breakdown

Western Australia’s Peppermint Grove and Cottesloe tops the mining state with $130,057.

In Queensland, Ascot and Hamilton top their state with an average income of $101,000.

While QLD, WA, New South Wales and Victoria's richest have an average income of more than $100,000, South Australia’s wealthiest suburb, North Adelaide, has an average of $84,790.

The Northern Territory's 880 postcode, which includes the suburbs of Gapuwiyak, Gove, Gunyangara, Nhulunbuy and Yirrkala, is the state’s best earner with an average of $76, 427.

In the ACT, the suburbs of Forrest, Griffith, Manuka and Red Hill claim the top spot with an average income of $91,209.

Tasmania's 7005 postcode, capturing the suburbs of Dynnyrne, Lower Sandy Bay and the University of Tasmania is the state's wealthiest with an average income of $65,174.

Analysing the nation’s tax returns, the data revealed Australian workers paid more than $583 billion in tax in 2007-08, an increase of more than 9 per cent on the previous year.

And an additional 840,000 people lodged tax returns, with workers eager to grab a slice of Kevin Rudd’s stimulus package which paid a $900 cash bonus to those earning under $80,000.

The Australian reported while the number of people filing returns rose 7.1 per cent, the total value of tax deductions claimed leapt 19.1 per cent.

Nation's wealthiest suburbs (state, suburb, mean taxable income)

NSW Darling Point, Edgecliff, HMAS Rushcutters, Point Piper $186,202
VIC Hawksburn, Toorak $165,714
VIC Portsea $160,592
NSW Mosman, Spit Junction $156,063
NSW Dover Heights, HMAS Watson, Rose Bay North, Vaucluse, Watsons Bay $146,996
NSW Bellevue Hill $142,858
NSW Northbridge $141,645
NSW Woollahra $139,573
WA Cottesloe, Peppermint Grove $130,057
NSW Hunters Hill, Woolwich $127,141

Nation's poorest suburbs (state, suburb, mean taxable income)

NSW Callaghan, Newcastle University $27,388
VIC Glenaire, Hordern Vale, Johanna, Lavers Hill $31,023
VIC Tresco 32,910
NSW Cunninyeuk, Dilpurra, Kyalite, Mellool, Moolpa, Stony Crossing, Tooranie, Wetuppa $33,726
VIC Nyah West $33,793
QLD Glen Aplin $33,806
WA Karlgarin $34,054
NSW Bland, Quandialla $34,211
VIC Barmah, Lower Moira, Picola, Picola West $34,247
VIC Lake Tyers, Nowa Nowa, Waiwera $34,359