TAX can be a pretty boring subject but if you lift the lid on some of the Australian Tax Office’s annual tax statistics you can find out a lot of interesting things about the Wimmera.
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We’re going to look at which areas of the Wimmera are best at making, saving, investing and sometimes even giving away money in 2014/15.
And to liven up all this accountant businesses, we’re going to drop a few animated gifs along the way.
So let’s begin...
Highest average salary: Stawell (Postcode 3380)
Be honest, this is the main reason you’re on this news story, isn’t it?
Stawell topped the average declared salary with $53,608.
Halls Gap was close behind on $53,342.
Horsham was few rungs down the ladder of opportunity at $51,134.
Most generous: Kaniva (Postcode 3419)
They’ve got big hearts out in West Wimmera, where they dig deep and keep their receipts.
Kaniva had the highest average tax-deductible donations by a considerable margin on $937.
Lillimur, and Serviceton was second on $770 and Birchip third on $502.
Horsham’s average donation was $487, with Stawell on $245 and Ararat on $253.
Biggest average tax bill: Hopetoun (Postcode 3396)
The average taxpayer in Hopetoun got stung for gross taxes of $11,891.
Lillimur and Serviceton were a close second on $11,151 and Kaniva had $10,841.
The average Horsham taxpayer coughed up $10,588.
Biggest average HECS debt: Apsley and Benayeo (Postcode 3319)
Apsley and Benayeo’s ex-university students still had the most left to pay back from their time partying and studying hard.
An average of $7334 owing to the government in HECS debts, Ouch.
Natimuk was a distant second on $3804 and Kaniva had $3753.
Horsham and Stawell were equal fourth on about $3455 each.
Highest termination pay: Horsham (Postcode 3400)
In Horsham, 76 left their jobs and were given taxable employment termination payments.
Whatever the circumstances of their departure, the average taxable payout was $16,576.
The ex-employees in Dooen, Drung, Haven and surrounds in Postcode 3401 received an average taxable golden handshake of $13,451.
Natimuk had $8698 and Ararat and surrounding areas had $8015.
Best bank savings: Natimuk (Postcode 3409)
Natimuk was the best as squirreling it away as the average person who claimed income from interest chalked up $2996 from doing nothing.
Nothing, that is, except for resisting the urge to spend that pile of cash.
Kaniva was close behind on $2727.
The average Horsham saver brought in $1560 from compound interest.
Bear in mind that the official Reserve Bank interest rate was at 2.5 per cent for most of 2014/15, while in April 2017 it was just 1.5 per cent.
Smartest investors: St Arnaud (Postcode 3478)
The average St Arnaud and surrounding area investor who made a profit in 2014/15 declared capital gains of $9417.
Ararat was close behind on $9376 and Stawell had $7620
Horsham’s profitable investors managed an average of $6593.
Biggest investment losses: Halls Gap (Postcode 3381)
It seems living in and around mountains is bad for your stock market portfolio.
Halls Gap and surrounding area investors who made a loss in 2014/15 reported and average capital loss of $14,629.
Horsham’s losing investors were not far behind, ending the year an average of $13,780 in the hole.
There must be both good and bad investors in St Arnaud as the average loss was $12673, with Birchip on $12,079.
Most work-related car expenses: Birchip (Postcode 3483)
Birchip clearly needs four wheels to make it through the nine to five, with an average work-related car expense claim of $2690.
Followed by Kaniva on $2529 and Stawell on $2455.
Horsham had an average claim of $2166 and Stawell $2167.
Remember to keep those logbooks handy.