Australian Tax Office 2014/15 taxation statistics: Horsham and many parts of the Wimmera see incomes decline

HORSHAM'S average taxable income effectively went backwards in the 2014/15 financial year, with zero per cent growth before inflation.

While Horsham’s incomes stalled, consumer prices increased by an average of 2.3 per cent according to the Reserve Bank of Australia.

A majority of postcodes in the Wimmera with public taxation data saw flat or declining average taxable incomes.

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Stawell had a similar taxable income growth to Horsham while Ararat and surrounding areas saw an increase above inflation.

Balmoral was one of the best performing areas around Horsham, at eight per cent, while Natimuk and Birchip saw declines of 13 and 16 per cent respectively.

Horsham’s average taxable income was about $2000 less than in Warrnambool, but that regional city saw a one per cent decline in income.

Hamilton was about $650 behind Horsham in average income but saw a five per cent increase since the 2013/14 financial year.

These figures were contained in the Australian Tax Office annual release of taxation data.

The central Horsham 3400 postcode saw the total number of individual taxpayers increase from 7764 in 2003/04 to 8141 in 2014/15.

Just over 5900 of those Horsham taxpayers contributed at total of more than $62.8 million in gross tax.

A total HECS debt of more than $787,000 was divided between 228 former university students in Horsham.

In Horsham, 5321 people declared a salary, totalling more almost $267.5m, which suggested an average salary of about $50,300.

Almost 3200 people spent some amount of money preparing their tax return, paying a total of almost $1 million to accountants.

Out of 759 people who declared income from renting out properties, 420 declared a loss on their investment and potentially claimed a total of almost $2.5m in tax deductions through negative gearing.

Out of total taxable returns, 4474 people claimed a low income tax offset.

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