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State or territory GSP per capita (A$, 2021–22) GSP per capita growth (2021–22) GSP per capita as a ratio to national Western Australia: 136,577 1.96% 1.632 Northern Territory
UBS publishes various statistics relevant for calculating net wealth. These figures are influenced by real estate prices, equity market prices, exchange rates, liabilities, debts, adult percentage of the population, human resources, natural resources and capital and technological advancements, which may create new assets or render others worthless in the future.
Average wages can differ from median wages; for example, the Social Security Administration estimated that the 2020 average wage in the United States was $53,383, while the 2020 median wage was $34,612. [1]
The median annual wage was $56,840 in New York state and $37,500 in Mississippi. Still, knowing the median helps you see where you stand. Improving your income can impact your finances for decades ...
The median gross household income in 2017-2018 is A$1,701 per week or A$88,695 per year. As of 30 June 2018 (end of fiscal year), one Australia dollar is equivalent of 0.7406 U.S. dollar. Using this exchange rate, the median gross household income in Australia is US$65,687 in 2017–18. [16]
The state of Victoria is the second-largest economy in Australia after New South Wales, accounting for 23.24% of the nation's gross domestic product, valued at A$515.2 billion in 2022. [5] The economy is primarily built upon financial services, agriculture, healthcare and social assistance, tourism and construction.
Measures of personal income include average wage, real income, median income, disposable income and GNI per capita. Comparisons of GDP per capita are also frequently made on the basis of purchasing power parity (PPP), to adjust for differences in the cost of living in different countries, see List of countries by GDP (PPP) per capita .
Taxation in Australia is levied at the federal, state, and local government levels. The federal government raises revenue from personal income taxes and business taxes. Other taxes include the goods and services tax (General Service Tax), excise and customs duties. The federal government is the main source of income for state governments.