The Australian Taxation Office (ATO) has released its latest list of the country’s highest-paying occupations, with surgeons once again claiming the top spot by earning an average annual income of nearly AUD 520,000.

Based on tax return data from the 2023–24 financial year, the figures show surgeons earned an average of AUD 519,998 per year, an increase of more than AUD 47,000 compared to the previous year.

Medical professionals dominated the rankings, with anaesthetists placing second on AUD 475,455 annually, followed by internal medicine specialists earning an average of AUD 362,120.

The highest-paid non-medical profession was financial dealer, with average earnings of AUD 347,375 per year, while psychiatrists, mining engineers, legal professionals, financial investment advisers, and chief executive officers also featured among the top earners.

According to the ATO, CEOs and managing directors were the most common profession within the top ten list, with more than 237,000 Australians working in those roles and earning an average of AUD 200,418 annually.

The report also revealed that the average taxable income for Australians rose to AUD 78,127 during the 2023–24 financial year, while the median income increased to AUD 58,739.

In addition, average superannuation balances climbed to AUD 182,781, reflecting continued growth in retirement savings across the country.

The latest figures highlight strong income growth in several high-skilled professions, particularly in the medical sector, where demand for specialist expertise continues to drive earnings higher.