Surgeons again top list of professional high earners: ATO data
Surgeons once again top the list as the highest paid professionals in the nation, at least according to the latest Australian Taxation Office data.
Doctors dominate the top 10, taking five of the first six spots, including anaesthetists, internal medicine specialists, psychiatrists and other medical specialists.
Surgeons had an average taxable income of $472,475, up $12,119 on the previous year, ATO figures for 2022-23 showed.
Anaesthetists’ average income was $447,193, a rise of $16,000 on the previous year.
Internal medicine specialists earned on average $342,457, a rise of $1728, followed by psychiatrists on $286,146, an increase of $9601.
Other general medical practitioners — which is all other medical specialists combined, including GPs — had taxable income of $259,802, which went up by $4048 compared with last year’s figures.
However, separated out, GP average income was $187,346 (median $151,936).
It is important to note that the ATO figures are based on annual tax returns and include all doctors in each specialty working part-time.
And as other AusDoc commentators have noted previously, this type of data reveals doctors as the top taxpayers, rather than the top income earners.
Other high earners have more opportunity to structure their affairs, so they pay minimal tax.
Medical median incomes:
- Neurosurgeon: $485,877
- Cardiologist: $449,071
- Anaesthetist: $425,174
- Psychiatrist: $257,105
- Internal medicine: $284,725
