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At 48, I am officially part of Australia’s “sandwich generation”, busy caring for both teenage children and elderly parents.
While I am earning more than I did in my 30s, my family’s expenses have also never been higher, as has my tax bill.
Analysis by Taylor Fry for the Actuaries Institute, presented in The Australian newspaper, shows that age 43 is the peak tax‑paying age in Australia, with the average 43‑year‑old paying $59,000 per year across income tax, GST, superannuation taxes, housing taxes and other levies.
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
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