Big bucks in the Bowen Basin
SOME might see it as a small town in the middle of nowhere, but Tieri has once again topped the state’s mining postcodes in the high-earners list for the 2008-09 tax year.
With a mean taxable income of $90,515, not only has the town surpassed other suburbs in the Bowen Basin, but it has also ranked second in the state, just behind the leafy inner-north Brisbane area of Ascot/Hamilton which sits at $103,526.
But Tieri isn’t the only postcode in the area to prove it is cleaning-up in the high-earners stakes, with Glenden, Middlemount, Dysart, Moranbah and Blackwater all following closely in the top ten.
The latest statistics released by the Australian Taxation Office have certainly proven cashed-up coal mining towns are quickly leading the pack when it comes to the state’s most affluent areas, with all showing an increase of at least 9% to the previous tax year compared to Ascot/Hamilton’s increase of just 2%.
Tieri saw an increase of 9% when compared to the 2007-08 tax year, and with more than 60% of the town’s residents employed directly or indirectly in coal mines it’s not hard to see why.
With a population of about 1600, Tieri had 575 residents lodge tax returns for the 2008-09
year and recorded a total taxable income of $51,955,828.
Following Tieri in fourth place was Glenden, which saw the biggest increase over the two tax years, rising 15% from the year before with a mean taxable income of $89,064.
Glenden recorded a total taxable income of $47,827,281 with 535 residents lodging tax returns.
Sitting at number five on the list was Middlemount with an average income of $85,002, with 935 residents lodging returns and a total taxable income of $79,477,149.
It was followed by Dysart, which recorded a mean taxable income of $84,477, with 1550 residents lodging tax returns and a total income of $131,108,125.
Moranbah came in at seventh place with an average income of $82,629, after 4035 residents lodged returns and a total taxable income of a whopping $333,243,065.
Blackwater scraped in at number 10 on the list with a mean taxable income of $80,326, with 2450 lodging returns and a total taxable income of $196,958,844.
The combined taxable income of the six mining towns came in at a staggering $840,570,292.
Emerald didn’t quite make the list of the top earners, recording an average income $68,323.
While topping the state in the wealthy stakes is no mean feat, the highest earning Queensland towns still lagged quite significantly behind the nation’s wealthiest postcode of Portsea in Victoria, which recorded an average taxable income of $198,987.
Despite the staggering figures the small mining towns are producing in the state, some of our Queensland neighbours didn’t rank quite so well, with the towns of Glen Aplin and Leyburn ranking in at ninth and tenth place of Australia’s poorest suburbs, with average incomes of about $36,000.
Queensland’s 10 wealthiest postcodes:
1. Ascot / Hamilton - $103,526
2. Tieri - $90,515
3. Brookfield - $89,635
4. Glenden - $89,064
5. Middlemount - $85,002
6. Dysart - $84,477
7. Bardon - $82,629
8. Moranbah - $82,629
9. Balmoral - $81,883
10. Blackwater - $80,326