The Australian Government has reported a record tax collection of $802 billion for the 2024 financial year, marking a $46.2 billion increase compared to the previous year.
According to the Australian Taxation Office, this rise reflects strong income growth, robust job creation, low unemployment, high commodity prices, and a strong property market.
The Australian Bureau of Statistics reveals that the federal government collects an average of $24,097 in taxes per person. When state and local taxes are added, the total tax per person has risen to $29,751.
Victoria stands out with the highest tax burden, where residents pay an average of $6,348, largely due to increased property taxes on investors and payroll taxes for employers.
Ahead of the upcoming election, both the Labor and Alliance parties are making various tax cut promises to the public.
