Top 1% continue to earn the same share of total income

The income for the top 1% of Australians has not increased for almost a decade.

The Melbourne Institute at the University of Melblourne has found Australia’s top 1% of earners made up 7.7% of total income, down slightly from 7.8% in 2006. This research confirms the stagnation of the growth of the income share of Australia’s top 1% of earners.

The study, based on taxation data, also found that the 18,000 Australians in the top 0.1% of income earners had an average income of over $1.1 million.

Read more at University of Melbourne