SHORT NOTES

I recently came across the following report into the distribution of income and wealth in Australia:

P. Davidson B. Bradbury, M. Wong and T. Hill (2023), Inequality in Australia 2023: Overview. Australian Council of Social Service and UNSW.

The findings were illuminating: In 2019-20, the highest 20% of households by income had an average after-tax weekly income of $4,306. This was five times the average after-tax weekly income of the lowest 20%.

And... the highest 5% had eight times the average income of the lowest 20%. 

 When it came to wealth, the average holding for the wealthiest 20% was $3.2 million. This was six times the average for the middle 20% and 90 times more than the lowest 20%.

 Additionally, the highest 20% of wealth holders have snared 82% of the value of all investment property and claimed 78% of all shares and financial investments. 

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