For the first time in seven years Sydney 2027 postcode, home to Edgecliff and Point Piper, is no longer country's highest-earning postcode.
The Australian Taxation Office has released the latest taxation statistics for 2016-17, analysing 13.9 million tax returns in order to gauge the nation's richest and poorest regions.
The report has found that 1,279 residents of Palm Beach on Sydney's northern beaches hold the juiciest pay packets in the country, knocking postcode 2027 as Australia's highest earning postcode since 2009-10 off top spot.
Residents of postcode 2108, which comprises Coasters Retreat, Currawong Beach, Great Mackerel Beach and Palm Beach, are now the nations top earners, taking home an average taxable income of $230,330.
Related: Sydney Still in Top Ten in Global City Wealth Index
Highest earning postcode in each state (based on average taxable income 2016-17)
| Postcode | State | Number of Taxpayers | Average Taxable Income |
|---|---|---|---|
| 2108 | NSW | 1,279 | $230,330 |
| 3142 | VIC | 10,044 | $193,904 |
| 6011 | WA | 6,431 | $155,264 |
| 2603 | ACT | 6,650 | $110,394 |
| 4007 | QLD | 9,278 | $107,478 |
| 5061 | SA | 6,587 | $92,871 |
| 885 | NT | 527 | $83,343 |
| 7258 | TAS | 571 | $68,621 |
The 6,089 tax filers in Edgecliff and and Point Piper's 2027 postcode made an average of $187,769, dropping to third position in the country behind Victoria's 3142 postcode home to Hawksburn and Toorak with an average taxable income of $193,904.
Surprisingly, new pole sitter Palm Beach hadn't even been on the list of the top-earning postcodes in Australia over recent years.
The postcode of 6011 was the richest in Western Australia where 6,431 tax filers living in Cottesloe and Peppermint Grove on Perth's western suburbs made an average of $155,264.
In ACT, the 2603 was the top performing postcode, with 6,650 tax-filers in Forrest, Griffith, Manuka and Red Hill earned an average of $110,394.
Queensland's top postcode was 4007, with 9,278 residents of Ascot, Hamilton and Hamilton Central in northeast Brisbane earning an average taxable income of $107,478.
In South Australia 5061 took the top spot, with 6,587 residents of Hyde Park, Malvern and Unley in Adelaide taking home an average of $93,871.
The Northern Territory's top postcode was 885, where 885 residents in the town of Alyangula made an average taxable income of $83,343.
Tasmania's top postcode was 7258, where the 571 residents of the Launceston suburbs of Breadalbane, Relbia and White Hills made an average of $68,621.
Related: Australia's Billionaires Earned $100m a Day Last Year
Australia's 10 richest postcodes (based on average taxable income 2016-17)
| Postcode | State | Number of Taxpayers | Average Taxable Income |
|---|---|---|---|
| 2108 | NSW | 1,279 | $230,330 |
| 3142 | VIC | 10,044 | $193,904 |
| 2027 | NSW | 6,089 | $187,769 |
| 2030 | NSW | 9,956 | $178,282 |
| 2063 | NSW | 4,261 | $169,365 |
| 2023 | NSW | 7,454 | $169,334 |
| 2028 | NSW | 3,505 | $160,378 |
| 2088 | NSW | 20,182 | $158,897 |
| 3944 | VIC | 449 | $156,079 |
| 2110 | NSW | 6,104 | $156,069 |
New South Wales, which is home to eight of the top ten richest suburbs in the country is also home to the lowest-earning postcode 2308, covering Newcastle University and Callaghan, with an average taxable income of $20,589.
Five of the 10 lowest-earning postcodes were in Queensland, with 4611 covering Marshlands and Mondure ranking second-lowest with an average income of $23,225.
Watchem, Morton Plains and Massey in Victoria had the third-lowest average taxable income at $24,346.
The report also revealed that surgeons were once again the top-earning profession, making an average of $394,866 with Anaesthetists second, earning $367,343 on average and internal medicine specialists third with an average income of $299,378.
Fast food cooks were amongst the lowers earners making an average of $18,616 with Hospitality employees second, earning an average taxable income of $19,102 and hospitality apprentice or trainees in third taking home $19,282.
Out of 1,100 occupations recorded, there were 72 jobs where women made more than men, including authors, future traders, magistrates, professional surfers and illustrators.
