Household finances: Household income
Household finance statistics contribute to understanding the economic wellbeing of households and the sustainability of household spending patterns and living standards.
Household income data are published in the Australian Bureau of Statistics’ (ABS) Household Income and Wealth, Australia. The publication presents a summary of findings from the biennial Survey of Income and Housing (SIH) and the Household Expenditure Survey (HES) conducted every six years. The SIH and HES are household surveys and collect information on sources of income, amounts received, household net worth, housing, household and personal characteristics, household expenditure and financial stress for those aged 15 years and over in private dwellings throughout Australia (excluding very remote areas). Gross income is the sum of income from all sources before income tax and the Medicare levy have been deducted, while equivalised income adjusts the results to account for variations in household size and composition. Adjusted lowest income quintile excludes the first and second percentiles, with nil or negative income, which may be experiencing a temporary economic setback or have stores of wealth to support their living costs.
Data from the Household Income and Wealth publication are also used in the following dashboard menu options: Household wealth, Household wealth - housing tenure status, Household debt and Wealth distribution - household characteristics.
See ABS 6523.0 – Household Income and Wealth, Australia (http://www.abs.gov.au/ausstats/[email protected]/mf/6523.0) for further information, including in-depth commentary and analysis, in particular the source data Quality Declaration. Source reference tables 1.1–1.2 and 14.1–14.8.