Northern Tasmania Region

economic profile

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Northern Midlands Council area

Sources of income

Households in the Northern Midlands Council area have a higher amount of disposable income compared to Tasmania.

Household disposable income is a measure of the amount of income available to an average household in the area. It varies depending on the jobs held by the residents, amount of property and business income, and cash benefits provided by government, which are related to the socio-economic status of the area. Areas with high unemployment, large numbers of retirees and others out of the workforce may have a high cash benefits component.

This information gives an insight into both the sources of income and how much your residents have available to spend in the area. This dataset should be viewed in conjunction with Worker productivity, Local workers income data, and Gross Regional Product data on the size of the residential economy.

Data source

National Economics (NIEIR) - Modelled series

Current area:
Current benchmark:
Comparison year:
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Sources of income per household
Northern Midlands Council area2019/202014/15Change
Economic measure$Tasmania$$ Tasmania$2014/15 to 2019/20
Wages & salaries66,076.7665,244.7461,270.5561,249.02+4,806
Property income14,810.0113,365.7616,825.0315,131.64-2,015
Business income40,312.9015,108.8640,520.9116,034.03-208
Superannuation8,025.847,801.259,074.938,878.94-1,049
Cash benefits22,078.9020,126.0921,734.8621,052.59+344
Total income before tax151,304.42121,646.69149,426.28122,346.22+1,878
Tax paid-21,446.03-16,475.55-19,181.38-14,367.36-2,265
Interest paid-3,463.31-4,172.53-4,951.67-5,524.76+1,488
Other payments/statistical discrepancy19,570.1713,971.9418,635.1712,363.26+935
Total disposable income145,965.25115,070.55143,928.39114,917.36+2,037
Ratio of cash benefits to tax paid1.031.221.131.470

Source: National Institute of Economic and Industry Research (NIEIR) ©2021. Compiled and presented in economy.id by .id (informed decisions).Data are based on a 2018-19 price base for all years. NIEIR-ID data are inflation adjusted each year to allow direct comparison, and annual data releases adjust previous years’ figures to a new base year.Learn more

Please refer to specific data notes for more information

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Northern Tasmania Region

economic profile