The Taxman's Rich List: Deductions of the Top 10

Q: What is the highest-paying job in Australia according to the ATO? A: Surgeons, and they have been for fifteen years running. In the ATO's 2023-24 taxation statistics, released on 17 June 2026, 4,280 surgeons reported an average taxable income of $519,998. An earlier version of this page quoted about $472,000, which was the 2022-23 figure. Q: What are the top 10 highest-paying occupations in Australia? A: Broadly: surgeons, anaesthetists, internal medicine specialists, financial dealers, psychiatrists, other medical practitioners, judicial and other legal professionals, mining engineers, financial investment advisers and managers, and chief executives and managing directors. The exact order moves between years, so check the ATO's occupation table for the income year you care about rather than relying on a list. One correction worth making: general practitioners are NOT in this group. They are a separate occupation category from other medical practitioners, and their average income is considerably lower. Q: Can a surgeon claim their lead-lined apron as a tax deduction? A: In principle yes, as protective equipment against a real and likely risk of injury. Two conditions matter in practice. You cannot claim it if your employer supplies, pays for or reimburses it, and hospitals normally supply theatre lead aprons. And if it costs more than $300 you claim decline in value over its effective life rather than the whole cost upfront. Q: Is a smartwatch tax deductible for an anaesthetist? A: Usually not. The ATO's starting position is that with few exceptions you cannot claim a watch or smart watch. The exception is narrow: the work-related functions have to be essential to your duties, you need a diary or similar record of the work use, you apportion for private use, and it fails if your employer already provides an adequate device. Above $300 it is a decline in value claim. Q: Can a psychiatrist claim artwork or furniture for their consulting rooms? A: Artwork can be a depreciating asset of a practice, but the number is much smaller than people expect. The ATO's effective life for artworks is 100 years, which is about 1 per cent of the cost per year. The entry is also restricted to works displayed in open viewing areas of premises used for a taxable purpose, such as a reception or waiting room. It does nothing for an employee decorating a hospital office. Where a small business is eligible, an instant asset write-off may be a far better route for an item under the threshold. Furniture is more straightforward and follows the ordinary rules for depreciating assets. Q: What is an unusual deduction for a barrister? A: Floor fees, sometimes called chambers or clerk fees. Barristers usually operate as sole traders and pay a regular fee to their chambers, which funds the day-to-day running of the floor including staff. It is an ordinary cost of running the practice and is deductible. Note the term is floor fees, not door fees, and that judicial officers are employees and have no floor fees to claim. Q: Can a CEO claim public speaking coaching? A: Coaching that maintains or improves a skill you use in your current role, such as public speaking for an executive who presents to media and shareholders, can qualify as self-education. Personal brand coaching is a weaker case, because it builds a personal asset that travels with you rather than a skill for the current role. And there is no deduction at all where your employer pays for it or reimburses you.