What is average income compared to a family in Australia?

According to the latest data from the Australian Bureau of Statistics (ABS), the average household income in Australia for the financial year 2020-21 was $115,199 per annum. This figure includes income from all sources, such as wages and salaries, government benefits, and investment earnings.

The median household income, which is the middle point of the distribution of household incomes, was $90,626 per annum. This means that half of Australian households earned more than this amount, and half earned less.

The ABS also reports on the distribution of household incomes by family type. For the financial year 2020-21, the average household income for families with children was $128,392 per annum, while the average household income for families without children was $99,335 per annum.

It is important to note that these figures are just averages, and there is a wide range of household incomes in Australia. Some households earn much more than the average, while others earn much less. The distribution of household incomes is also influenced by factors such as age, education level, and occupation.