Australian National Accounts: Distribution of Household Income, Consumption and Wealth, 2003-04 to 2017-18

Introduction

Widely used macro-economic measures of the economy such as the National Accounts provide vital information on the size and structure of the economy. However they do not provide information on the distribution of income and wealth or of individual access to goods and services. These issues are widely recognised as important in understanding material living standards, and have been of increasing focus over recent years. Issues of distribution and access are also central to targeting, and improving the efficiency of both social and economic policies.

The Australian Bureau of Statistics (ABS) publishes high quality aggregate (macro) and distributional measures (micro) of household economic well-being. The macro estimates are published in the Australian System of National Accounts. The national accounts provides up-to-date estimates for total household income, consumption and wealth, however metrics produced from the national accounts such as household income per capita do not give any information about how available resources are distributed. The ABS household distributional estimates are published in the suite of ABS publications derived from the ABS Survey of Income and Housing and Household Expenditure Survey (micro data).

Due to differences in concepts, definitions and statistical practices, micro data may yield results that diverge from national accounts aggregates, and therefore distributional measures created using micro data sources alone may not be consistent with the aggregate figures in the national accounts (macro data). This publication contains results that integrate the ABS micro and macro sources and produce distributional information of household income, consumption and wealth, consistent with the Australian System of National Accounts (ASNA) concepts and aggregates.

International and domestic drivers

The report of the Commission on the Measurement of Economic Performance and Social Progress (September 2009), the “Stiglitz-Sen-Fitoussi Commission”, stressed the importance of a greater focus on the household to provide better measures of people’s well-being. The report emphasised the importance of formulating metrics that presented the distributional aspects of households such as median income and income quintiles consistent with the System of National Accounts. Further, in response to the 2008-09 global financial crisis, the Group of Twenty (G-20) Finance Ministers and Central Bank Governors reiterated the importance of providing distributional information alongside aggregate figures. In Australia, the importance of distributional analysis of household aggregates such as saving and wealth for economic and social policy has been recognised in addresses made by the Reserve Bank of Australia (RBA).

In early 2011, Australia, along with 25 other countries, took part in the Organisation for Economic Cooperation and Development (OECD) and Eurostat (European Union statistical commission) expert group for measuring disparities in a national accounts framework. The role of the expert group was to devise robust and internationally comparable methodology to allow the integration of distributional information using existing micro information on different household groups that are consistent with the System of National Accounts (SNA) concepts and aggregates.

In August 2013, the ABS released an Information Paper: Australian National Accounts, Distribution of Household Income, Consumption and Wealth, 2009-10 (cat. no. 5204.0.55.009) based on (and expanding upon) the work undertaken by the ABS with the OECD-Eurostat Expert Group. This publication distributed estimates for income, consumption and wealth from the Australian System of National Accounts (ASNA), 2011-12 (cat. no. 5204.0) for the year 2009-10 for five household distributional indicators using data from the ABS Survey of Income and Housing and the ABS Household Expenditure Survey.

In October 2014, the ABS released the first issue of the Australian National Accounts, Distribution of Household Income, Consumption and Wealth, 2003-04 to 2011-12 (cat. no. 5204.0.55.011).The publication was an extension of the August 2013 information paper in that it included a biennial time series from 2003-04 to 2011-12 of the household distributional data set based on the Australian System of National Accounts, 2012-13 (cat. no. 5204.0).

In November 2015, a second iteration of cat. no. 5204.0.55.011 was released. The publication contained a biennial time series from 2003-04 to 2013-14 plus an estimate for 2014-15 of the household distributional data set based on the Australian System of National Accounts, 2014-15 (cat. no. 5204.0).

The current publication is third issue of cat. no. 5204.0.55.011, it contains a biennial time series from 2003-04 to 2017-18 of the household distributional data set based on the Australian System of National Accounts, 2017-18 (cat. no. 5204.0). The micro estimates used in this release for the data point 2017-18 are linear extrapolation of estimates from the 2015-16 ABS Survey of Income and Housing and ABS Household Expenditure Survey.

Results

Current price household estimates for income, consumption and wealth from the Australian System of National Accounts, 2017-18 (cat. no. 5204.0), for biennial years starting from 2003-04 to 2017-18, were distributed for five household distributional indicators using data from the ABS Survey of Income and Housing and ABS Household Expenditure Survey. Estimates for non-profit institutions serving households (NPISH) included in the household sector in the 5204.0 estimates were removed from the household national accounts in this release.

Tables produced in this release are:

Distribution of the Australian System of National Accounts (ASNA) household income, consumption and wealth components based on household distributional indicators derived from ABS household surveys. The household distributional indicators presented are main source of income; equivalised income quintiles; household composition; age of reference person in household; and equivalised net worth quintiles, for biennial years starting from 2003-04 to 2017-18 (electronic table 1).
Analysis of the ASNA household distributions, for individual years:
- income, consumption and wealth components, share of total household, by household distributional indicator (electronic table 2);
- income, consumption and wealth components, per household, by household distributional indicator (electronic table 3); and
- income, consumption and wealth components, ratio of the average of all households, by household distributional indicator (electronic table 4).
Analysis of the ASNA household distributions, time series:
- change of household gross disposable income, contribution of income items, per household, by household distributional indicator (electronic table 5);
- change of household total final consumption expenditure, contribution of consumption items, per household, by household distributional indicator (electronic table 6);
- change of household actual individual consumption, contribution of final consumption items and social transfers in kind, per household, by household distributional indicator (electronic table 7);
- change of household net worth, contribution of wealth items, per household, by household distributional indicator (electronic table 8);
- household income, consumption and wealth, contribution to growth, by household distributional indicator (electronic table 9); and
- household income, consumption and wealth, growth per household, by household distributional indicator (electronic table 10).
Impact of redistribution measures by government and non-profit institutions serving households, by household distributional indicator (electronic table 11).

Analysis and comments - income and wealth quintiles, 2017-18

This section presents graphs and tables with accompanying text for the distributions of the Australian System of National Accounts (ASNA) household income, consumption and wealth estimates by household distributional indicators, equivalised income and wealth quintiles. This section uses the ASNA term 'total household' throughout the text, total household has an equivalent term in the ABS micro publications, which is 'all households'. Included in this section are ratios of the total value of the highest to the lowest quintile, the ratios are a measure of the spread of income, consumption and wealth across the population. The ratios are a summary indicator of inequality.

Income

Table 2.1 below presents the 2017-18 values of the ASNA total household income components that are distributed into equivalised income and wealth quintiles. The income graphs below are based on the detail distributional information published in electronic tables 1, 2 and 11.

Table 2.1 ASNA total household income (excluding NPISH), 2017-18

Income	$m
Compensation of employees	865 325
Gross mixed income	157 527
Gross operating surplus - dwellings owned by persons	136 158
Property income receivable	174 758
Social Assistance benefits	131 314
Interest payable	70 558
Income tax payable	217 612
Social transfers in kind	278 577
Superannuation benefits received (memorandum item)	112 009
Gross disposable income	1 165 320
Adjusted disposable income	1 443 897

Compensation of employees

The total remuneration, in cash or in kind, payable by an enterprise to an employee in return for work done by the employee during the accounting period. It is further classified into two sub-components; wages and salaries; and employers' social contributions (payments by employers which are intended to secure for their employees the entitlement to social benefits, such as employer superannuation contributions).

Compensation of employees - share of total, 2017-18
Equivalised household quintile	Income (%)	Net worth (%)
Lowest	3	11
Second	8	22
Third	17	22
Fourth	26	21
Highest	46	24

Compensation of employees - share of total, 2017-18

["Equivalised household quintile","Income","Net worth"]

[["Lowest","Second","Third","Fourth","Highest"],[[2.8999999999999999],[8.3000000000000007],[16.600000000000001],[26],[46.200000000000003]],[[11.4],[22.399999999999999],[21.600000000000001],[20.5],[24]]]

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In 2017-18, total household compensation of employees (COE) was $865,325m. COE for households in the highest income and net worth quintile was 46% and 24% of total household COE, by comparison for households in the lowest income and net worth quintile it was 3% and 11% of total household COE. There was an increase in the share of total household COE by households in each income quintile from the lowest to the highest. The ratio of the values of the highest to lowest quintiles was 16.0 and 2.1 for income and net worth for COE.

Gross mixed income

Gross mixed income - share of total, 2017-18
Equivalised household quintile	Income (%)	Net worth (%)
Lowest	3.50	7.40
Second	7.60	12.30
Third	13.20	12.60
Fourth	15.70	15.00
Highest	60.10	52.70

Gross operating surplus - dwellings owned by persons

Dwelling "GOS" is the surplus resulting from a deduction of intermediate inputs from output. Output is the sum of actual and imputed rent on dwellings owned by households. Intermediate inputs are the goods and services consumed in the process of production (for example maintenance costs and body corporate fees). These inputs exclude property income payments such as interest.

Gross operating surplus - dwellings owned by persons - share of total, 2017-18
Equivalised household quintile	Income (%)	Net worth (%)
Lowest	7.70	9.00
Second	16.90	13.80
Third	18.20	16.40
Fourth	20.80	19.60
Highest	36.30	41.20

Gross operating surplus - dwellings owned by persons - share of total, 2017-18

["Equivalised household quintile","Income","Net worth"]

[["Lowest","Second","Third","Fourth","Highest"],[[7.7000000000000002],[16.899999999999999],[18.199999999999999],[20.800000000000001],[36.299999999999997]],[[9],[13.800000000000001],[16.399999999999999],[19.600000000000001],[41.200000000000003]]]

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In 2017-18, total household gross operating surplus, dwellings owned by persons (GOS Dwellings) was $136,158m. GOS Dwellings for households in the highest income and net worth quintile was 36% and 41% of total household GOS Dwellings, by comparison for households in the lowest income and net worth quintiles it was 8% and 9% of total household GOS dwellings. There was an increase in the share of total household GOS Dwellings by households in each income and net worth quintile from the lowest to the highest. The ratio of the values of the highest to lowest quintiles was 4.7 and 4.6 for income and net worth for GOS Dwellings.

Property income receivable

Property income receivable is the income receivable by the owners of a financial asset or a tangible non-produced asset in return for providing funds. Household property income mainly consists of dividend and interest income earned directly and through superannuation and insurance reserves.

Property income receivable - share of total, 2017-18
Equivalised household quintile	Income (%)	Net worth (%)
Lowest	5.3	2.6
Second	8.4	7.1
Third	13.7	10.5
Fourth	19.8	17.4
Highest	52.8	62.5

Property income receivable - share of total, 2017-18

["Equivalised household quintile","Income","Net worth"]

[["Lowest","Second","Third","Fourth","Highest"],[[5.2999999999999998],[8.4000000000000004],[13.699999999999999],[19.800000000000001],[52.799999999999997]],[[2.6000000000000001],[7.0999999999999996],[10.5],[17.399999999999999],[62.5]]]

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In 2017-18, total household property income was $174,758m. Property income for households in the highest income and net worth quintile was 53% and 63% of total household property income, by comparison for households in the lowest income and net worth quintile it was 5% and 3% of total household property income. There was an increase in the share of total household property income by households in each quintile from the lowest to the highest for both income and net worth quintiles, with the increase being particularly steep from the fourth to the highest quintile. The ratio of the value of the highest to lowest quintiles was 10.0 and 24.4 for income and net worth quintiles for property income receivable.

Social assistance benefits

Includes current transfers to persons from general government in return for which no services are rendered or goods supplied. Principal components include: scholarships; maternity, sickness and unemployment benefits; family allowances; and widows', age, invalid and repatriation pensions.

Social assistance benefits - share of total, 2017-18
Equivalised household quintile	Income (%)	Net worth (%)
Lowest	33.8	30.3
Second	32.1	18.6
Third	19.1	20.5
Fourth	10.1	19.6
Highest	4.9	11

Social assistance benefits - share of total, 2017-18

["Equivalised household quintile","Income","Net worth"]

[["Lowest","Second","Third","Fourth","Highest"],[[33.799999999999997],[32.100000000000001],[19.100000000000001],[10.1],[4.9000000000000004]],[[30.300000000000001],[18.600000000000001],[20.5],[19.600000000000001],[11]]]

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In 2017-18, total household social assistance benefits were $131,314m. Social assistance benefits by households in the lowest income and net worth quintile was 34% and 30% of total household social assistance benefits, by comparison for households in the highest income and net worth quintile it was 5% and 11% of total household social assistance benefits. There was a decrease in the share of total household social assistance benefits received by households in each income quintile from the lowest to the highest, the pattern for the net worth quintiles is not as clear. For example, households in the lowest net worth quintile received the highest share of total household social assistance benefits and households in the third net worth quintile received the next highest share of the total at 21%. The ratio of the value of the highest to lowest quintiles was 0.2 and 0.4 for income and net worth quintiles for social assistance benefits.

Interest payable

Interest payable - share of total, 2017-18
Equivalised household quintile	Income (%)	Net worth (%)
Lowest	6.4	6.9
Second	7.5	11.5
Third	12.8	17.8
Fourth	21.5	22.2
Highest	51.9	41.6

Income tax payable

Income tax payable - share of total, 2017-18
Equivalised household quintile	Income (%)	Net worth (%)
Lowest	1.4	8.4
Second	5.2	18.9
Third	12.3	18.8
Fourth	21.9	19.2
Highest	59.2	34.7

Social transfers in kind

Social transfers in kind are individual goods and services provided to individual households by general government units and non-profit institutions either free or at prices that are not economically significant, examples are education and health services.

Social transfers in kind - share of total, 2017-18
Equivalised household quintile	Income (%)	Net worth (%)
Lowest	25.5	23.3
Second	24.3	20.4
Third	20.3	20.9
Fourth	16.3	18.9
Highest	13.7	16.5

Social transfers in kind - share of total, 2017-18

["Equivalised household quintile","Income","Net worth"]

[["Lowest","Second","Third","Fourth","Highest"],[[25.5],[24.300000000000001],[20.300000000000001],[16.300000000000001],[13.699999999999999]],[[23.300000000000001],[20.399999999999999],[20.899999999999999],[18.899999999999999],[16.5]]]

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In 2017-18, total household social transfers in kind (STiK) were $278,577m. STiK for households in the lowest income and net worth quintile was 26% and 23% of total household STiK, by comparison for households in the highest income and net worth quintile it was 14% and 16% of total household STiK. There was a decrease in the share of total household STiK by households in each income quintile from the lowest to the highest, the pattern for the net worth quintiles is not as clear. For example, households in the lowest net worth quintile received the highest share of total household STiK and households in the third net worth quintiles received the next highest share of the total at 21%. The ratio of the value of the highest to lowest quintile was 0.5 and 0.7 for income and net worth quintiles for social transfers in kind.

Superannuation benefits received (memorandum item)

Superannuation benefits received are recorded as a memorandum item of the household income account. Superannuation benefits received in the ASNA are treated as financial transactions of households and are not recorded as income; instead they are recorded in the financial account and balance sheet.

Superannuation benefits received (memorandum item) - share of total, 2017-18
Equivalised household quintile	Income (%)	Net worth (%)
Lowest	3.0	1.6
Second	7.8	2.4
Third	18.2	4.8
Fourth	24.3	17.6
Highest	46.6	73.6

Superannuation benefits received (memorandum item) - share of total, 2017-18

["Equivalised household quintile","Income","Net worth"]

[["Lowest","Second","Third","Fourth","Highest"],[[3],[7.7999999999999998],[18.199999999999999],[24.300000000000001],[46.600000000000001]],[[1.6000000000000001],[2.3999999999999999],[4.7999999999999998],[17.600000000000001],[73.599999999999994]]]

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In 2017-18, total household superannuation benefits received was $112,009m. Households in the highest income and net worth quintile received 47% and 74% of total household superannuation benefits, by comparison households in the lowest income and net worth quintile received 3% and 2% of total household superannuation benefits. There was an increase in the share of total household superannuation benefits received by households in each quintile from the lowest to the highest for both income and net worth quintiles, with the increase being particularly steep from the fourth to the highest net worth quintiles. The ratio of the value of the highest to lowest quintiles was 15.5 and 45.7 for income and net worth quintiles for superannuation benefits received.

Disposable income

Gross and adjusted disposable income - share of total, income quintiles, 2017-18
Equivalised household quintile	Gross disposable income (%)	Adjusted disposable income (%)
Lowest	7.5	10.8
Second	12.5	14.7
Third	17.2	17.8
Fourth	22.4	21.2
Highest	40.5	35.5

Gross and adjusted disposable income - share of total, income quintiles, 2017-18

["Equivalised household quintile","Gross disposable income","Adjusted disposable income"]

[["Lowest","Second","Third","Fourth","Highest"],[[7.5],[12.5],[17.199999999999999],[22.399999999999999],[40.5]],[[10.800000000000001],[14.699999999999999],[17.800000000000001],[21.199999999999999],[35.5]]]

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In 2017-18, total household gross and adjustable disposable income was $1,165,320m and $1,443,897m respectively. The difference between the two income measures is that adjustable disposable income includes social transfers in kind and gross disposable income excludes these transfers. Gross and adjustable disposable income in the highest income quintile was 41% and 35% of total household gross and adjustable disposable income respectively, by comparison for households in the lowest income quintile it was 8% and 11% of the total household gross and adjustable disposable income. There was an increase in the share of total household gross and adjustable disposable income by households in each income quintile from the lowest to the highest quintiles. The ratio of the value of the highest to lowest income quintiles was 5.4 and 3.2 for gross and adjustable disposable income respectively.

Gross and adjusted disposable income - share of total, net worth quintiles, 2017-18
Equivalised household quintile	Gross disposable income (%)	Adjusted disposable income (%)
Lowest	12.3	14.3
Second	18.6	19
Third	18.8	19.2
Fourth	19.3	19.2
Highest	31.1	28.3

Gross and adjusted disposable income - share of total, net worth quintiles, 2017-18

["Equivalised household quintile","Gross disposable income","Adjusted disposable income"]

[["Lowest","Second","Third","Fourth","Highest"],[[12.300000000000001],[18.600000000000001],[18.800000000000001],[19.300000000000001],[31.100000000000001]],[[14.300000000000001],[19],[19.199999999999999],[19.199999999999999],[28.300000000000001]]]

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Gross and adjusted disposable income in the highest net worth quintile was 31% and 28% of total household gross and adjusted disposable income respectively, by comparison for households in the lowest net worth quintile it was 12% and 14% of the total household gross and adjusted disposable income. There was an increase in the share of total household gross and adjusted disposable income by households from the lowest to the highest quintile, with the growth remaining constant in the second, third and fourth quintile. The ratio of the value of the highest to lowest net worth quintile was 2.5 and 2.0 for gross and adjusted disposable income respectively.

Impact of the redistribution by government and non-profit institution serving household (NPISH)

Table 2.2 and the graph below presents total household gross disposable income (GDI) and the share of total household GDI in a step by step format, each step includes an income receivable or payable component that illustrate the impact of the redistribution of income by government and NPISH. The graphs below are based on the detail information published in electronic table 11.

Step 1: gross disposable income (GDI) before the addition of income from government social assistance benefits (cash) and the payment of income tax;
Step 2: step 1 GDI less income taxes payable;
Step 3: step 2 GDI plus income from government social assistance benefits (cash);
Step 4: step 3 GDI plus government and NPISH payments to household from social transfers in kind (STiK).

Table 2.2 ASNA total household gross disposable income, impact of government and NPISH redistribution - 2017-18

Steps	$m
GDI (before tax and social assistance benefits)	1 251 618
GDI (after tax and before social assistance benefits)	1 034 006
GDI (after tax and social assistance benefits)	1 165 320
GDI (after tax, social assistance benefits and social transfers in kind)	1 443 897

Impact of redistribution measures by government and NPISH - share of total household income, income quintiles, 2017-18
Equivalised household quintile	GDI (before income tax and social assistance benefits) (%)	GDI (after income tax and before social assistance benefits) (%)	GDI (after income tax and social assistance benefits) (%)	GDI (after income tax, social assistance benefits and STiK) (%)
Lowest	3.6	4.1	7.5	10.8
Second	9.2	10	12.5	14.7
Third	16.1	16.9	17.2	17.8
Fourth	23.6	23.9	22.4	21.2
Highest	47.5	45	40.5	35.5

Impact of redistribution measures by government and NPISH - share of total household income, income quintiles, 2017-18

["Equivalised household quintile","GDI (before income tax and social assistance benefits)","GDI (after income tax and before social assistance benefits)","GDI (after income tax and social assistance benefits)","GDI (after income tax, social assistance benefits and STiK)"]

[["Lowest","Second","Third","Fourth","Highest"],[[3.6000000000000001],[9.1999999999999993],[16.100000000000001],[23.600000000000001],[47.5]],[[4.0999999999999996],[10],[16.899999999999999],[23.899999999999999],[45]],[[7.5],[12.5],[17.199999999999999],[22.399999999999999],[40.5]],[[10.800000000000001],[14.699999999999999],[17.800000000000001],[21.199999999999999],[35.5]]]

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For households in the lowest, second and third income quintiles the share of total household income increased with each step. For households in the fourth income quintile, the share of total household income increased by step 2 (payment of income taxes), and declined in step 3 and 4 (transfer payments in cash and kind). For households in the highest income quintile, the share of total household income declined in each step.

Impact of redistribution measures by government and NPISH - share of total household income, net worth quintiles, 2017-18
Equivalised household quintile	GDI (before income tax and social assistance benefits) (%)	GDI (after income tax and before social assistance benefits) (%)	GDI (after income tax and social assistance benefits) (%)	GDI (after income tax, social assistance benefits and STiK) (%)
Lowest	9.7	10	12.3	14.3
Second	18.7	18.6	18.6	19
Third	18.6	18.6	18.8	19.2
Fourth	19.2	19.2	19.3	19.2
Highest	33.8	33.6	31.1	28.3

Impact of redistribution measures by government and NPISH - share of total household income, net worth quintiles, 2017-18

["Equivalised household quintile","GDI (before income tax and social assistance benefits)","GDI (after income tax and before social assistance benefits)","GDI (after income tax and social assistance benefits)","GDI (after income tax, social assistance benefits and STiK)"]

[["Lowest","Second","Third","Fourth","Highest"],[[9.6999999999999993],[18.699999999999999],[18.600000000000001],[19.199999999999999],[33.799999999999997]],[[10],[18.600000000000001],[18.600000000000001],[19.199999999999999],[33.600000000000001]],[[12.300000000000001],[18.600000000000001],[18.800000000000001],[19.300000000000001],[31.100000000000001]],[[14.300000000000001],[19],[19.199999999999999],[19.199999999999999],[28.300000000000001]]]

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For households in the lowest net worth quintile, the share of total household income increased with each step. For households in the highest net worth quintile, the share of total household income declined in each step. For households in the fourth net worth quintile, the redistributive measures do not change the share of total household income, while households in the second and third net worth quintile, marginally increase their share of household income by step 4.

Consumption and saving

Table 2.3 below presents the 2017-18 values of the ASNA income and consumption components, and gross saving, by income and net worth quintiles, to assist the interpretability of the equivalised income and net worth quintile graphs presented below. The consumption and gross saving graphs below are based on the detail distributional information published in electronic tables 1, 2 and 5.

Table 2.3 ASNA household income and consumption (excluding NPISH) - 2017-18

Income and Consumption, $m			Lowest	Second	Third	Fourth	Highest	Total
Income quintiles
	Gross disposable income		86 832	145 862	200 212	260 607	471 808	1 165 320
	Household final consumption expenditure		118 774	140 270	178 561	218 219	332 391	988 215
		Health	8 563	7 365	10 919	10 009	16 985	53 841
	Social transfers in kind		71 108	67 592	56 615	45 310	37 953	278 577
		Health	26 060	29 970	25 983	22 749	21 511	126 274
	Adjusted disposable income		157 939	213 454	256 826	305 917	509 761	1 443 897
	Gross saving		-31 942	5 592	21 650	42 388	139 417	177 105
Net worth quintiles
	Gross disposable income		142 903	217 072	218 956	224 418	361 971	1 165 320
	Household final consumption expenditure		123 695	172 149	185 739	207 678	298 956	988 215
		Health	5 594	9 491	9 025	12 557	17 174	53 841
	Social transfers in kind		65 108	56 904	58 167	52 621	45 776	278 577
		Health	21 165	22 444	27 254	27 880	27 530	126 274
	Adjusted disposable income		208 011	273 977	277 123	277 039	407 748	1 443 897
	Gross saving		19 208	44 924	33 217	16 741	63 016	177 105

Consumption

Final consumption expenditure - share of total, 2017-18
Equivalised household quintile	Income (%)	Net worth (%)
Lowest	12	12.5
Second	14.2	17.4
Third	18	18.8
Fourth	22.1	21
Highest	33.7	30.3

Final consumption expenditure - share of total, 2017-18

["Equivalised household quintile","Income","Net worth"]

[["Lowest","Second","Third","Fourth","Highest"],[[12],[14.199999999999999],[18],[22.100000000000001],[33.700000000000003]],[[12.5],[17.399999999999999],[18.800000000000001],[21],[30.300000000000001]]]

[]

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[{"axis_id":"0","tick_interval":"10","axis_min":"0","axis_max":"40","axis_title":"%","precision":"","table_units":"(%)","tooltip_units":"(%)","axis_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

In 2017-18, total household final consumption expenditure (HFCE) was $988,215m. HFCE for households in the highest income and net worth quintile was 34% and 30% of total HFCE, by comparison for households in the lowest income and net worth quintile it was 12% and 13% of total HFCE. There was an increase in the share of total HFCE by households in each quintile from the lowest to the highest for both income and net worth quintiles. The ratio of the value of the highest to lowest quintiles was 2.8 and 2.4 for income and net worth quintiles for HFCE.

Selected final consumption expenditure - share of gross disposable income, 2017-18
Equivalised household quintile	Food (%)	Alcoholic beverages and tobacco (%)	Rent and other dwelling services (%)	Transport (%)	Recreation and culture (%)	Hotels, cafes and restaurants (%)
Lowest	18.0	6.9	31.3	14.1	11.1	6.3
Second	11.6	5.2	22.9	10.0	9.2	5.4
Third	9.9	4.4	19.8	9.5	9.6	5.9
Fourth	7.8	3.3	17.0	9.7	9.1	6.3
Highest	5.2	2.0	14.6	7.6	7.3	5.5

Selected final consumption expenditure - share of gross disposable income, 2017-18

["Equivalised household quintile","Food","Alcoholic beverages and tobacco","Rent and other dwelling services","Transport","Recreation and culture","Hotels, cafes and restaurants"]

[["Lowest","Second","Third","Fourth","Highest"],[[18],[11.6],[9.9000000000000004],[7.7999999999999998],[5.2000000000000002]],[[6.9000000000000004],[5.2000000000000002],[4.4000000000000004],[3.2999999999999998],[2]],[[31.300000000000001],[22.899999999999999],[19.800000000000001],[17],[14.6]],[[14.1],[10],[9.5],[9.6999999999999993],[7.5999999999999996]],[[11.1],[9.1999999999999993],[9.5999999999999996],[9.0999999999999996],[7.2999999999999998]],[[6.2999999999999998],[5.4000000000000004],[5.9000000000000004],[6.2999999999999998],[5.5]]]

[]

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In 2017-18, gross disposable income (GDI) of households in the lowest and highest income quintile was $86,832m and $471,808m respectively. Households in the lowest income quintile consumed approximately 63% or $54,968m of their GDI on key expenditure components, while households in the highest income quintile consumed 27% or $129,175m, of their GDI on the same key expenditure components. The key expenditure components included: rent and other dwelling services, 31% and 15%, food 18% and 5%, and transport 14% and 8%, respectively, for the lowest and highest income quintiles.

Health consumption - share of adjusted disposable income, income quintiles, 2017-18
Equivalised household quintile	Without social transfers in kind (%)	With social transfers in kind (%)
Lowest	5.8	22.2
Second	3.7	17.6
Third	4.5	14.5
Fourth	3.5	10.8
Highest	3.5	7.7

Health consumption - share of adjusted disposable income, income quintiles, 2017-18

["Equivalised household quintile","Without social transfers in kind","With social transfers in kind"]

[["Lowest","Second","Third","Fourth","Highest"],[[5.7999999999999998],[3.7000000000000002],[4.5],[3.5],[3.5]],[[22.199999999999999],[17.600000000000001],[14.5],[10.800000000000001],[7.7000000000000002]]]

[]

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In 2017-18, adjusted disposable income (ADI) of households in the lowest and highest income quintile was $157,939m and $509,761m respectively. Households in the lowest income quintile consumed 22% of their ADI in health services, of this 5% was in direct payments and 17% in transfers in kind. In comparison, households in the highest income quintile consumed 8% of their ADI in health services, of this 3% was in direct payments and 4% in transfers in kind. There was a decrease in the consumption of health plus STiK health as a share of ADI by households in each income quintile from the lowest to the highest.

Health consumption - share of adjusted disposable income, net worth quintiles, 2017-18
Equivalised household quintile	Without social transfers in kind (%)	With social transfers in kind (%)
Lowest	2.9	12.9
Second	3.7	11.8
Third	3.4	13.1
Fourth	4.8	14.7
Highest	4.4	11.1

Health consumption - share of adjusted disposable income, net worth quintiles, 2017-18

["Equivalised household quintile","Without social transfers in kind","With social transfers in kind"]

[["Lowest","Second","Third","Fourth","Highest"],[[2.8999999999999999],[3.7000000000000002],[3.3999999999999999],[4.7999999999999998],[4.4000000000000004]],[[12.9],[11.800000000000001],[13.1],[14.699999999999999],[11.1]]]

[]

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In 2017-18, adjusted disposable income (ADI) of households in the lowest and highest net worth quintile was $208,011m and $407,748m respectively. Households in the lowest net worth quintile consumed 13% of their ADI in health services, of this 3% was in direct payments and 10% in transfers in kind. In comparison, households in the highest net worth quintile consumed 11% of their ADI in health services, of this 4% was in direct payments and 7% in transfers in kind. The pattern on health services consumption in the net worth quintiles is not clear, for example households in the fourth net worth quintile consumed largest share of health plus STiK health, 15% of ADI, followed by households in the lowest and third net worth quintiles consuming equal proportions at 13% of ADI.

Gross saving

Gross saving - percentage share of total, 2017-18
Equivalised household quintile	Income (%)	Net worth (%)
Lowest	-19.9	10.8
Second	2.7	25.9
Third	12.0	18.8
Fourth	24.1	8.6
Highest	81.1	35.8

Wealth

Table 2.4 below presents the 2017-18 values of the ASNA total household wealth components that are distributed into equivalised income and wealth quintiles. The wealth graphs below are based on the detail distributional information published in electronic tables 1 and 2.

Table 2.4 ASNA total household wealth (excluding NPISH) - 2017-18

Wealth		$m
Dwellings and residential land		6 922 044
Financial assets		5 154 688
	Currency and deposits	1 079 930
	Shares and other equity	965 911
	Superannuation and insurance reserves	3 000 454
Loan liabilities		2 217 061
Net Worth		10 300 060

Dwellings and residential land

Dwellings and residential land - share of total, 2017-18
Equivalised household quintile	Income (%)	Net worth (%)
Lowest	8.7	0.9
Second	13.1	8.6
Third	17.2	17.6
Fourth	21.5	24.7
Highest	39.5	48.3

Financial assets - currency and deposits, shares and other equity, and superannuation and insurance reserves

Financial assets - share of total, income quintiles, 2017-18
Equivalised household quintile	Currency and deposits (%)	Shares and other equity (%)	Superannuation and insurance reserves (%)
Lowest	8.9	4.8	5.4
Second	14.2	5.7	8.5
Third	17.2	8.7	15.3
Fourth	20.4	15.8	22.2
Highest	39.3	65.1	48.6

Financial assets - share of total, income quintiles, 2017-18

["Equivalised household quintile","Currency and deposits","Shares and other equity","Superannuation and insurance reserves"]

[["Lowest","Second","Third","Fourth","Highest"],[[8.9000000000000004],[14.199999999999999],[17.199999999999999],[20.399999999999999],[39.299999999999997]],[[4.7999999999999998],[5.7000000000000002],[8.6999999999999993],[15.800000000000001],[65.099999999999994]],[[5.4000000000000004],[8.5],[15.300000000000001],[22.199999999999999],[48.600000000000001]]]

[]

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Financial assets - share of total, net worth quintiles, 2017-18
Equivalised household quintile	Currency and deposits (%)	Shares and other equity (%)	Superannuation and insurance reserves (%)
Lowest	2.8	0.8	2.3
Second	7.3	1.6	8.1
Third	11.6	3.1	12.1
Fourth	21	8.5	19.1
Highest	57.2	86	58.3

Financial assets - share of total, net worth quintiles, 2017-18

["Equivalised household quintile","Currency and deposits","Shares and other equity","Superannuation and insurance reserves"]

[["Lowest","Second","Third","Fourth","Highest"],[[2.7999999999999998],[7.2999999999999998],[11.6],[21],[57.200000000000003]],[[0.80000000000000004],[1.6000000000000001],[3.1000000000000001],[8.5],[86]],[[2.2999999999999998],[8.0999999999999996],[12.1],[19.100000000000001],[58.299999999999997]]]

[]

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In 2017-18, total financial assets held by households were, currency and deposits ($1,079,930m), shares and other equity was ($965,911m), and superannuation and insurance reserve ($3,000,454m). These financial assets accounted for 98% of total household financial assets. Households in the highest income and net worth quintile held 39% and 57% of total household currency and deposits, 65% and 86% of total household shares and other equity, and 49% and 58% of total household superannuation and insurance reserves, respectively. Households in the lowest income and net worth quintile held 9% and 3% of total household currency and deposits, 5% and 1% of total household shares and other equity, and 5% and 2% of total household superannuation and insurance reserves, respectively. The ratio of the value of the highest to lowest quintiles was 7.8 for income quintiles and 30.0 for net worth quintiles for total financial assets.

Liabilities - loans

Liabilities - loans - share of total, 2017-18
Equivalised household quintile	Income (%)	Net worth (%)
Lowest	9.0	5.4
Second	10.5	21.3
Third	16.6	24.6
Fourth	23.0	21.4
Highest	41.0	27.3

Net worth

Net worth - share of total, 2017-18
Equivalised household quintile	Income (%)	Net worth (%)
Lowest	7.7	0.5
Second	11.8	4.8
Third	15.9	12.1
Fourth	20.7	21.4
Highest	43.9	61.2

Time series analysis

This section provides analysis of the time series (2003-04 to 2017-18) of the Australian System of National Accounts (ASNA) distributional household income, consumption and wealth data.

The analysis presented aims to provide the users with a flavour of the type of analysis that is possible with the time series dataset, it is not meant to be an exhaustive analysis of the ASNA distributional household dataset.

The analysis is broken into the five broad categories of income; redistribution measures by government and non-profit institutions serving households; consumption; gross saving; and wealth. For each category, the five household groups (equivalised household income and net worth quintiles; main source of income, household composition; and age of household reference person) are analysed in terms of (i) growth of income (consumption, gross saving and net worth) and (ii) material living standards. Specifically, the analysis will focus on the:

growth over time in aggregate (and components) of household gross disposable income, final consumption expenditure, gross saving and net worth (electronic table 9);
contribution of household groups to growth over time in aggregate (and components) of household gross disposable income, final consumption expenditure and net worth. This provides an indication of which household groups are driving the growth in income, consumption, gross saving and wealth (electronic table 9);
growth over time of household gross disposable income, final consumption expenditure and net worth (and their components) per household (electronic table 10). The contribution of the components (of income, consumption and net worth) to the growth over time of household gross disposable income, final consumption expenditure, actual individual consumption and net worth per household, by household groups (electronic table 5, 6, 7 and 8). Together, the analysis in these tables provides an indication of the improvement or otherwise of material living standards of household groups over time; and
impact on household groups over time of the redistribution measures by government and non-profit institutions serving households on gross disposable income per household. This analysis provides an indication of the improvement or otherwise of material living standards of household groups over time (electronic table 11).

Users need to take note when analysing the graphs and tables that the movements in dollars and/or percentage terms represents a biennial change up to 2017-18 for all distributed estimates. This mainly reflects the availability of the micro source data from ABS Survey of Income and Housing (SIH).

Income

Electronic table 9 shows from 2003-04 to 2017-18 ASNA household gross disposable income (GDI) grew 116.2%. The increase was driven by an increase of gross operating surplus (GOS) - dwellings owned by persons (137.1% growth); compensation of employees (109.7% growth); property income receivables (151.2% growth); and social assistance benefits (81.7% growth); these were offset by interest payable (85.0% growth) and income tax payable (105.7% growth).

Equivalised income quintiles

Contribution of income quintiles to income growth

Graph 3.1A - Percentage growth of gross disposable income by equivalised household income quintile, 2003-04 onwards
Equivalised household income quintile	2003-04 - 2005-06 (%)	2005-06 - 2007-08 (%)	2007-08 - 2009-10 (%)	2009-10 - 2011-12 (%)	2011-12 - 2013-14 (%)	2013-14 - 2015-16 (%)	2015-16 - 2017-18 (%)
Lowest	0.6	1.6	1.6	0.8	0.7	0.7	-0.1
Second	1.5	2.3	1.6	1.7	1.2	0.8	0.7
Third	2.5	3.3	1.8	2.8	1.5	0.8	1.2
Fourth	2.8	4	4	2.9	1.2	1.5	1.4
Highest	6.3	9	4.9	5.8	4.1	2.8	2.4
Total households	13.6	20.2	13.9	13.8	8.6	6.7	5.4

Graph 3.1A - Percentage growth of gross disposable income by equivalised household income quintile, 2003-04 onwards

["Equivalised household income quintile","2003-04 - 2005-06","2005-06 - 2007-08","2007-08 - 2009-10","2009-10 - 2011-12","2011-12 - 2013-14","2013-14 - 2015-16","2015-16 - 2017-18"]

[["Lowest","Second","Third","Fourth","Highest","Total households"],[[0.59999999999999998],[1.5],[2.5],[2.7999999999999998],[6.2999999999999998],[13.6]],[[1.6000000000000001],[2.2999999999999998],[3.2999999999999998],[4],[9],[20.199999999999999]],[[1.6000000000000001],[1.6000000000000001],[1.8],[4],[4.9000000000000004],[13.9]],[[0.80000000000000004],[1.7],[2.7999999999999998],[2.8999999999999999],[5.7999999999999998],[13.800000000000001]],[[0.69999999999999996],[1.2],[1.5],[1.2],[4.0999999999999996],[8.5999999999999996]],[[0.69999999999999996],[0.80000000000000004],[0.80000000000000004],[1.5],[2.7999999999999998],[6.7000000000000002]],[[-0.10000000000000001],[0.69999999999999996],[1.2],[1.3999999999999999],[2.3999999999999999],[5.4000000000000004]]]

[]

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Graph 3.1B - Percentage growth of gross disposable income by equivalised household income quintile, 2003-04 to 2017-18
Equivalised household income quintile	Percentage growth (%)
Lowest	8.1
Second	14
Third	19.4
Fourth	25
Highest	49.7
Total households	116.2

Graph 3.1B - Percentage growth of gross disposable income by equivalised household income quintile, 2003-04 to 2017-18

["Equivalised household income quintile","Percentage growth"]

[["Lowest","Second","Third","Fourth","Highest","Total households"],[[8.0999999999999996],[14],[19.399999999999999],[25],[49.700000000000003],[116.2]]]

[]

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Graph 3.1, shows that households in the highest income quintile showed the largest increase (49.7%) of the 116.2% growth in gross disposable income (GDI) from 2003-04 to 2017-18. The contribution of the highest quintile is particularly evident in the increase from 2005-06 to 2007-08, period just before the Global Financial Crisis (GFC), where households in the highest income quintile increased 9.0%, almost half of the total 20.2% increase in GDI and over twice the contribution of the nearest groups, the third (3.3%) and fourth income quintile (4.0%).

Electronic table 9 shows that the highest quintile was mainly responsible for the income receivable and payable components (GOS - dwellings owned by persons, compensation of employees (COE), property income receivables, interest payable and income tax payable) that increased GDI by 116.2% between 2003-04 and 2017-18. Whereas, the lowest and second quintiles were responsible for the contribution of social assistance benefits to the increase in GDI.

Household material living standards - per household by income quintile

Graph 3.2A - Percentage growth per household, gross disposable income by equivalised household income quintile, 2003-04 onwards
Equivalised household income quintile	2003-04 - 2005-06 (%)	2005-06 - 2007-08 (%)	2007-08 - 2009-10 (%)	2009-10 - 2011-12 (%)	2011-12 - 2013-14 (%)	2013-14 - 2015-16 (%)	2015-16 - 2017-18 (%)
Lowest	4.7	18.2	16.5	5.8	6.4	8.9	-4.8
Second	8.6	16.0	8.6	10.9	6.6	4.7	2.1
Third	11.1	16.1	5.9	13.2	5.5	3.6	3.3
Fourth	9.3	15.0	13.1	9.3	2.4	5.6	2.7
Highest	13.3	20.5	7.8	11.3	7.4	6.1	2.4
Total households	10.8	17.8	9.4	10.7	5.8	5.6	2.0

Graph 3.2A - Percentage growth per household, gross disposable income by equivalised household income quintile, 2003-04 onwards

["Equivalised household income quintile","2003-04 - 2005-06","2005-06 - 2007-08","2007-08 - 2009-10","2009-10 - 2011-12","2011-12 - 2013-14","2013-14 - 2015-16","2015-16 - 2017-18"]

[["Lowest","Second","Third ","Fourth","Highest","Total households"],[[4.7000000000000002],[8.5999999999999996],[11.1],[9.3000000000000007],[13.300000000000001],[10.800000000000001]],[[18.199999999999999],[16],[16.100000000000001],[15],[20.5],[17.800000000000001]],[[16.5],[8.5999999999999996],[5.9000000000000004],[13.1],[7.7999999999999998],[9.4000000000000004]],[[5.7999999999999998],[10.9],[13.199999999999999],[9.3000000000000007],[11.300000000000001],[10.699999999999999]],[[6.4000000000000004],[6.5999999999999996],[5.5],[2.3999999999999999],[7.4000000000000004],[5.7999999999999998]],[[8.9000000000000004],[4.7000000000000002],[3.6000000000000001],[5.5999999999999996],[6.0999999999999996],[5.5999999999999996]],[[-4.7999999999999998],[2.1000000000000001],[3.2999999999999998],[2.7000000000000002],[2.3999999999999999],[2]]]

[]

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Graph 3.2B - Percentage growth per household, gross disposable income by equivalised household income quintile, 2003-04 to 2017-18
Equivalised household income quintile	Percentage growth (%)
Lowest	68
Second	72.9
Third	74.4
Fourth	72.4
Highest	91.4
Total households	80

Graph 3.2B - Percentage growth per household, gross disposable income by equivalised household income quintile, 2003-04 to 2017-18

["Equivalised household income quintile","Percentage growth"]

[["Lowest","Second","Third","Fourth","Highest","Total households"],[[68],[72.900000000000006],[74.400000000000006],[72.400000000000006],[91.400000000000006],[80]]]

[]

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Graph 3.2 indicates an increase of 80.0% for the average of all households of GDI from 2003-04 to 2017-18, with the highest quintile growing above the average of all households at 91.4%, all other quintiles grew at or above 68.0% but below the average for all households. The third and highest quintiles were heavily impacted by the GFC, their GDI per household grew 16.1% and 20.5% respectively in 2005-06 to 2007-08 and by 2007-08 to 2009-10 (during the GFC), growth of GDI per household had declined to 5.9% and 7.8% respectively. The lowest quintile showed a negative in growth of GDI per household from 2015-16 to 2017-18, at - 4.8% growth.

Electronic tables 3, 4 and 10 illustrate that from 2003-04 to 2017-18, the average COE for all households increased from $51,876 per household to $90,569 per household, a growth of 74.6%. For households in the highest quintile, COE per household increased from $118,005 per household in 2003-04 to $212,616 per household in 2017-18, a growth of 80.2%. In 2003-04 for the highest quintile, the COE was 2.27 times the average of all households; by 2017-18 the COE ratio was 2.35.

Table 3.1 Contribution by major component to the growth in gross disposable income per household, by equivalised household income quintiles, 2003-04 to 2017-18, per cent

Income	Lowest	Second	Third	Fourth	Highest	Total households
Gross disposable income	68.0	72.9	74.4	72.4	91.4	80.0
GOS - dwellings owned by persons	8.4	12.9	10.3	8.2	11.2	10.4
Gross mixed income	3.0	4.4	6.3	4.7	19.6	10.5
Compensation of employees	25.6	37.3	49.7	58.7	72.2	57.1
Property income receivable	10.1	7.8	11.0	12.3	19.4	14.1
Social assistance benefits	25.4	17.1	7.7	3.5	1.2	6.9
Interest payable	-3.3	-1.1	-1.8	-3.1	-6.2	-3.8
Income tax payable	-2.0	-4.5	-7.7	-10.9	-24.3	-14.0

Table 3.1 shows that for all households, the largest contributor to growth in GDI per household was COE, at 57.1%. Income tax payable had a significant impact in reducing GDI per household in the highest quintile, where it reduced GDI by 24.3% per household.

Equivalised household net worth quintiles

Contribution of net worth quintiles to income growth

Graph 3.3 - Percentage growth of gross disposable income by equivalised household net worth quintiles, 2003-04 to 2017-18
Equivalised household net worth quintile	Percentage growth (%)
Lowest	14.5
Second	21.4
Third	20.9
Fourth	20.8
Highest	38.6
Total households	116.2

 Graph 3.3 - Percentage growth of gross disposable income by equivalised household net worth quintiles, 2003-04 to 2017-18

["Equivalised household net worth quintile","Percentage growth"]

[["Lowest","Second","Third","Fourth","Highest","Total households"],[[14.5],[21.399999999999999],[20.899999999999999],[20.800000000000001],[38.600000000000001],[116.2]]]

[]

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[{"axis_id":"0","tick_interval":"25","axis_min":"0","axis_max":"125","axis_title":"% growth","precision":"","table_units":"(%)","tooltip_units":"(%)","axis_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

Graph 3.3 shows that households in the highest net worth quintile showed the largest increase (38.6%) of the 116.2% growth in gross disposable income (GDI) from 2003-04 to 2017-18. The second, third and fourth quintiles individually contributed approximately 21%. The difference in contribution between the highest quintile and the lower quintiles for GDI (and some of the components) was not nearly as pronounced as it was with the equivalised income quintiles.

Electronic table 9 shows that for superannuation benefits received, increased 190.0% from 2003-04 to 2017-18, the contribution by the highest quintile was 147.4%, followed by 32.2 % for the fourth quintile. By comparison, the aggregate of the lowest, second and third quintile contribution was 10.5%.

Household material living standards - per household by net worth quintile

Graph 3.4A - Percentage growth per household, gross disposable income by equivalised household net worth quintile, 2003-04 onwards
Equivalised household net worth quintile	2003-04 - 2005-06 (%)	2005-06 - 2007-08 (%)	2007-08 - 2009-10 (%)	2009-10 - 2011-12 (%)	2011-12 - 2013-14 (%)	2013-14 - 2015-16 (%)	2015-16 - 2017-18 (%)
Lowest	12.7	10.1	15.1	11.4	5.8	4.1	5.0
Second	11.4	19.3	10.0	10.9	5.3	-0.6	4.9
Third	7.6	20.8	6.6	10.7	2.7	9.4	-0.6
Fourth	2.7	22.2	2.1	12.2	7.1	9.1	-0.9
Highest	17.4	15.1	13.6	9.4	7.1	5.4	2.7
Total households	10.7	17.8	9.4	10.7	5.8	5.6	2.0

Graph 3.4A - Percentage growth per household, gross disposable income by equivalised household net worth quintile, 2003-04 onwards

["Equivalised household net worth quintile","2003-04 - 2005-06","2005-06 - 2007-08","2007-08 - 2009-10","2009-10 - 2011-12","2011-12 - 2013-14","2013-14 - 2015-16","2015-16 - 2017-18"]

[["Lowest","Second","Third ","Fourth","Highest","Total households"],[[12.699999999999999],[11.4],[7.5999999999999996],[2.7000000000000002],[17.399999999999999],[10.699999999999999]],[[10.1],[19.300000000000001],[20.800000000000001],[22.199999999999999],[15.1],[17.800000000000001]],[[15.1],[10],[6.5999999999999996],[2.1000000000000001],[13.6],[9.4000000000000004]],[[11.4],[10.9],[10.699999999999999],[12.199999999999999],[9.4000000000000004],[10.699999999999999]],[[5.7999999999999998],[5.2999999999999998],[2.7000000000000002],[7.0999999999999996],[7.0999999999999996],[5.7999999999999998]],[[4.0999999999999996],[-0.59999999999999998],[9.4000000000000004],[9.0999999999999996],[5.4000000000000004],[5.5999999999999996]],[[5],[4.9000000000000004],[-0.59999999999999998],[-0.90000000000000002],[2.7000000000000002],[2]]]

[]

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[{"axis_id":"0","tick_interval":"5","axis_min":"-5","axis_max":"25","axis_title":"% growth","precision":"","table_units":"(%)","tooltip_units":"(%)","axis_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

Graph 3.4B - Percentage growth per household, gross disposable income by equivalised household net worth quintile, 2003-04 to 2017-18
Equivalised household net worth quintile	Percentage growth (%)
Lowest	84
Second	78
Third	71.4
Fourth	66.4
Highest	94.8
Total households	80

Graph 3.4B - Percentage growth per household, gross disposable income by equivalised household net worth quintile, 2003-04 to 2017-18

["Equivalised household net worth quintile","Percentage growth"]

[["Lowest","Second","Third","Fourth","Highest","Total households"],[[84],[78],[71.400000000000006],[66.400000000000006],[94.799999999999997],[80]]]

[]

[{"axis_id":"0","tick_interval":"","axis_min":"","axis_max":"","axis_title":"","precision":-1,"axis_units":"","tooltip_units":"","table_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

[{"axis_id":"0","tick_interval":"20","axis_min":"0","axis_max":"100","axis_title":"% growth","precision":"","table_units":"(%)","tooltip_units":"(%)","axis_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

Graph 3.4 indicates an increase of 80.0% for the average of all households of GDI from 2003-04 to 2017-18, with the second, third and fourth quintile growing below the average of all households at 78.0%, 71.4% and 66.4% respectively.

Electronic table 3, 4 and 10 illustrate that from 2003-04 to 2017-18, the average social assistance benefits for all households increased from $9,087 per household to $13,744 per household, a growth of 51.2%. For households in quintile one, social assistance benefits per household increased by the average growth of all households.

Table 3.2 Contribution by major component to the growth in gross disposable income per household, by equivalised household net worth quintiles, 2003-04 to 2017-18, per cent

Income	Lowest	Second	Third	Fourth	Highest	All households
Gross disposable income	84.0	78.0	71.4	66.4	94.8	80.0
GOS - dwellings owned by persons	11.3	6.4	6.4	7.4	17.4	10.4
Gross mixed income	9.2	7.2	5.7	5.3	20.2	10.5
Compensation of employees	55.1	70.9	59.3	50.4	52.0	57.1
Property income receivable	3.4	5.3	7.6	10.7	31.1	14.1
Social assistance benefits	17.4	5.5	8.1	7.4	2.2	6.9
Interest payable	-3.1	-2.3	-2.7	-3.5	-6.1	-3.8
Income tax payable	-8.4	-14.1	-11.9	-10.2	-20.3	-14.0

Table 3.2 shows that for all households, the largest contributor to growth in GDI per household was compensation of employees, at 57.1%; this was reflected in all net worth quintiles. Property Income receivables was significant to growth in GDI per household in the highest quintile and fourth quintile, contributing 31.1% and 10.7%, respectively. GOS - dwelling owned by person was a significant contributor for GDI per household for the highest quintile and lowest quintile at 17.4% and 11.3% respectively, both above the growth of all households at 10.4%.

Main source of income

Contribution of main source of income to income growth

Graph 3.5 - Percentage growth of gross disposable income by main source of income (a), 2003-04 to 2017-18
Main source of income	Percentage growth (%)
Wages and salaries	82.1
Income from unincorporated business	11.9
Property income and superannuation	11.9
Government pensions and allowances	9.8
Other	0.4
Total households	116.2

Graph 3.5 - Percentage growth of gross disposable income by main source of income (a), 2003-04 to 2017-18

["Main source of income","Percentage growth"]

[["Wages and salaries","Income from  unincorporated business","Property income and superannuation","Government pensions and allowances","Other","Total households"],[[82.099999999999994],[11.9],[11.9],[9.8000000000000007],[0.40000000000000002],[116.2]]]

[]

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[{"axis_id":"0","tick_interval":"25","axis_min":"0","axis_max":"125","axis_title":"% growth","precision":"","table_units":"(%)","tooltip_units":"(%)","axis_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

includes imputed income from owner occupied dwellings.

Graph 3.5, illustrates that households with wages and salaries as their main source of income (MSI) showed the largest increase, at 82.1% of the 116.2% growth in gross disposable income (GDI) from 2003-04 to 2017-18, followed by MSI property income and superannuation and MSI income from unincorporated businesses, both at 12% growth.

Electronic table 9 show that households with MSI wages and salaries were mainly responsible for nearly all income components that increased GDI by 116.2% between 2003-04 and 2017-18. The only exceptions was gross mixed income (GMI), where MSI income from unincorporated business was the largest contributor, 65.8%, and social assistance benefits, where MSI government pensions and allowances were the largest contributor, 45.7%.

Household material living standards - per household by main source of income

Graph 3.6 - Percentage growth per household, gross disposable income by main source of income (a), 2003-04 to 2017-18
Main source of income	Percentage growth (%)
Wages and salaries	69.3
Income from unincorporated business	110.5
Property income and superannuation	146.4
Government pensions and allowances	61.3
Other	49
Total households	80

Graph 3.6 - Percentage growth per household, gross disposable income by main source of income (a), 2003-04 to 2017-18

["Main source of income","Percentage growth"]

[["Wages and salaries","Income from  unincorporated business","Property income and superannuation","Government pensions and allowances","Other","Total households"],[[69.299999999999997],[110.5],[146.40000000000001],[61.299999999999997],[49],[80]]]

[]

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[{"axis_id":"0","tick_interval":"30","axis_min":"0","axis_max":"150","axis_title":"% growth","precision":"","table_units":"(%)","tooltip_units":"(%)","axis_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

includes imputed income from owner occupied dwellings.

Graph 3.6 indicates an increase of 80.0% for the average of all households of GDI from 2003-04 to 2017-18, with MSI income from unincorporated business, MSI property income and superannuation growing above the average of all households at 110.5% and 146.4% respectively.

Table 3.3 Contribution by major component to the growth in gross disposable income per household, by MSI, 2003-04 to 2017-18, per cent

Income	Wages and salaries	Income from unincorporated business	Property income and superannuation	Government pensions and allowances	Other	All households
Gross disposable income	69.3	110.5	146.4	61.3	49.0	80.0
GOS - dwellings owned by persons	5.8	18.6	37.4	16.0	19.9	10.4
Gross mixed income	2.6	83.3	39.7	-0.5	0.1	10.5
Compensation of employees	67.4	5.7	15.7	3.8	4.8	57.1
Property income receivable	9.9	12.6	79.3	5.4	9.2	14.1
Social assistance benefits	2.9	5.4	6.5	37.4	5.4	6.9
Interest payable	-3.7	-5.6	-5.1	-0.3	-9.1	-3.8
Income tax payable	-14.5	-8.2	-24.6	0.6	-6.2	-14.0

Table 3.3 shows that for MSI household groups, the largest contributor to growth in GDI per household reflected the main source of income of the group. The largest contributors to GDI per household for MSI wages and salaries was compensation of employees at 67.4%; for MSI Income from unincorporated business, it was GMI at 83.3%; for MSI property income and superannuation, it was property income receivable at 79.3%; and for MSI government pension and allowance, it was social assistance and benefits at 37.4%.

Household composition

Contribution of household composition to income growth

Graph 3.7A - Percentage growth of gross disposable income by household composition, 2003-04 onwards
Household composition	2003-04 - 2005-06 (%)	2005-06 - 2007-08 (%)	2007-08 - 2009-10 (%)	2009-10 - 2011-12 (%)	2011-12 - 2013-14 (%)	2013-14 - 2015-16 (%)	2015-16 - 2017-18 (%)
Lone person under 65	1.8	1.6	1.3	1.0	0.2	0.0	0.9
Lone person 65 and over	0.4	0.5	0.8	0.7	0.5	0.6	0.3
One parent with dependent children	0.7	0.0	0.8	0.1	1.0	-0.2	0.0
Couple only, reference person under 65	2.5	4.9	1.5	2.9	0.5	-0.3	1.9
Couple only, reference person 65 and over	0.7	1.6	1.0	1.7	1.0	0.7	0.2
Two adults or more with dependent children	4.7	6.6	6.2	3.5	4.6	5.2	1.1
Other households	2.9	5.0	2.4	3.9	0.9	0.6	1.2
Total households	13.6	20.2	13.9	13.8	8.6	6.7	5.4

Graph 3.7A - Percentage growth of gross disposable income by household composition, 2003-04 onwards

["Household composition","2003-04 - 2005-06","2005-06 - 2007-08","2007-08 - 2009-10","2009-10 - 2011-12","2011-12 - 2013-14","2013-14 - 2015-16","2015-16 - 2017-18"]

[["Lone person under 65","Lone person  65 and over","One parent with dependent children","Couple only, reference person under 65","Couple only, reference person 65 and over","Two adults or more with dependent children","Other households","Total households"],[[1.8],[0.40000000000000002],[0.69999999999999996],[2.5],[0.69999999999999996],[4.7000000000000002],[2.8999999999999999],[13.6]],[[1.6000000000000001],[0.5],[0],[4.9000000000000004],[1.6000000000000001],[6.5999999999999996],[5],[20.199999999999999]],[[1.3],[0.80000000000000004],[0.80000000000000004],[1.5],[1],[6.2000000000000002],[2.3999999999999999],[13.9]],[[1],[0.69999999999999996],[0.10000000000000001],[2.8999999999999999],[1.7],[3.5],[3.8999999999999999],[13.800000000000001]],[[0.20000000000000001],[0.5],[1],[0.5],[1],[4.5999999999999996],[0.90000000000000002],[8.5999999999999996]],[[0],[0.59999999999999998],[-0.20000000000000001],[-0.29999999999999999],[0.69999999999999996],[5.2000000000000002],[0.59999999999999998],[6.7000000000000002]],[[0.90000000000000002],[0.29999999999999999],[0],[1.8999999999999999],[0.20000000000000001],[1.1000000000000001],[1.2],[5.4000000000000004]]]

[]

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[{"axis_id":"0","tick_interval":"5","axis_min":"-5","axis_max":"25","axis_title":"% growth","precision":"","table_units":"(%)","tooltip_units":"(%)","axis_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

Graph 3.7B - Percentage growth of gross disposable income by household composition, 2003-04 to 2017-18
Household composition	Percentage growth (%)
Lone person under 65	9.3
Lone person 65 and over	5.5
One parent with dependent children	3.2
Couple only, reference person under 65	18.7
Couple only, reference person 65 and over	9.8
Two adults or more with dependent children	46.6
Other households	23.1
Total households	116.2

Graph 3.7B - Percentage growth of gross disposable income by household composition, 2003-04 to 2017-18

["Household composition","Percentage growth"]

[["Lone person under 65","Lone person  65 and over","One parent with dependent children","Couple only, reference person under 65","Couple only, reference person 65 and over","Two adults or more with dependent children","Other households","Total households"],[[9.3000000000000007],[5.5],[3.2000000000000002],[18.699999999999999],[9.8000000000000007],[46.600000000000001],[23.100000000000001],[116.2]]]

[]

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[{"axis_id":"0","tick_interval":"25","axis_min":"0","axis_max":"125","axis_title":"% growth","precision":"","table_units":"(%)","tooltip_units":"(%)","axis_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

Graph 3.7, shows that households containing two adults or more with dependent children showed the largest increase, 46.6% of the of 116.2% growth in gross disposable income (GDI) from 2003-04 to 2017-18, followed by other households contributing 23.1% of the increase, and households with couple only with reference person under 65 years contributing 18.7%.

Household material living standards - per household by household composition

Graph 3.8 - Percentage growth per household, gross disposable income by household composition, 2003-04 to 2017-18
Household composition	Percentage growth (%)
Lone person under 65	71.2
Lone person 65 and over	90
One parent with dependent children	68.9
Couple only, reference person under 65	72.8
Couple only, reference person 65 and over	97.1
Two adults or more with dependent children	84.1
Other households	72.1
Total households	80

Graph 3.8 - Percentage growth per household, gross disposable income by household composition, 2003-04 to 2017-18

["Household composition","Percentage growth"]

[["Lone person under 65","Lone person 65 and over","One parent with dependent children","Couple only, reference person under 65","Couple only, reference person 65 and over","Two adults or more with dependent children","Other households","Total households"],[[71.200000000000003],[90],[68.900000000000006],[72.799999999999997],[97.099999999999994],[84.099999999999994],[72.099999999999994],[80]]]

[]

[{"axis_id":"0","tick_interval":"","axis_min":"","axis_max":"","axis_title":"","precision":-1,"axis_units":"","tooltip_units":"","table_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

[{"axis_id":"0","tick_interval":"20","axis_min":"0","axis_max":"100","axis_title":"% growth","precision":"","table_units":"(%)","tooltip_units":"(%)","axis_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

Graph 3.8 indicates an increase of 80.0% for the average of all households of GDI from 2003-04 to 2017-18. For four out of the seven household groups, GDI per household grew below the average for all households. The exceptions were couples only, reference person 65 and over which grew at 97.1%, lone person 65 and over which grew at 90.0% and two adults or more with dependent children which grew at 84.1%.

Electronic tables 3, 4 and 10 illustrate that for households with lone person over 65 years, social assistance benefits per household increased from $11,361 per household in 2003-04 to $21,302 per household in 2017-18, a growth of 87.5%, above the 51.2% average growth for all households. For households with lone person over 65 years, in 2003-04 social assistance benefits was 1.25 times the average of all households, by 2017-18 the ratio had increased to 1.55.

Table 3.4 Contribution by major component to the growth in gross disposable income per household, by household composition, 2003-04 to 2017-18, per cent

Income	Lone person under 65 years	Lone person over 65 years	One parent with dependent children	Couple only with reference person under 65 years	Couple only with reference person over 65 years	Two adults or more with dependent children	Other	All households
Gross disposable income	71.2	90.0	68.9	72.8	97.1	84.2	72.1	80.0
GOS - dwellings owned by persons	10.4	25.8	9.8	5.8	26.7	9.7	6.7	10.4
Gross mixed income	6.9	1.1	1.7	8.4	9.7	16.1	6.8	10.5
Compensation of employees	50.5	8.8	50.2	69.0	16.6	68.3	50.4	57.1
Property income receivable	11.8	18.2	8.7	13.6	35.2	10.8	13.8	14.1
Social assistance benefits	6.0	38.2	12.9	-0.5	20.1	3.8	6.8	6.9
Interest payable	-2.9	0.3	-4.4	-5.1	-4.2	-4.6	-2.0	-3.8
Income tax payable	-10.6	-0.1	-9.3	-17.0	-5.1	-19.0	-9.3	-14.0

Table 3.4 shows from 2003-04 to 2017-18, for all households, the largest contributor to growth in GDI per household was compensation of employees, at 57.1%. This was reflected in 5 out of the 7 household groups. The exceptions were households containing lone person over 65 years, where the largest contributor was social assistance benefits at 38.2% and couple only households with reference person over 65 years where property income receivable was the largest contributor at 35.2%.

Age of reference person

Contribution of age of reference person to income growth

Graph 3.9A - Percentage growth of gross disposable income by age of reference person, 2003-04 onwards
Age of household reference person	2003-04 - 2005-06 (%)	2005-06 - 2007-08 (%)	2007-08 - 2009-10 (%)	2009-10 - 2011-12 (%)	2011-12 - 2013-14 (%)	2013-14 - 2015-16 (%)	2015-16 - 2017-18 (%)
15-24	1.0	0.1	0.2	0.3	-0.1	-0.1	0.5
25-34	1.4	2.2	2.3	2.5	0.6	0.3	1.5
35-44	2.7	4.4	2.2	2.6	1.1	2.0	0.8
45-54	3.3	4.7	3.5	2.4	3.0	1.2	1.3
55-64	4.3	4.7	3.1	3.4	1.8	1.1	1.4
65+	1.0	4.1	2.6	2.6	2.2	2.2	0.0
Total households	13.6	20.2	13.9	13.8	8.6	6.7	5.4

Graph 3.9A - Percentage growth of gross disposable income by age of reference person, 2003-04 onwards

["Age of household reference person","2003-04 - 2005-06","2005-06 - 2007-08","2007-08 - 2009-10","2009-10 - 2011-12","2011-12 - 2013-14","2013-14 - 2015-16","2015-16 - 2017-18"]

[["15-24","25-34","35-44","45-54","55-64","65+","Total households"],[[1],[1.3999999999999999],[2.7000000000000002],[3.2999999999999998],[4.2999999999999998],[1],[13.6]],[[0.10000000000000001],[2.2000000000000002],[4.4000000000000004],[4.7000000000000002],[4.7000000000000002],[4.0999999999999996],[20.199999999999999]],[[0.20000000000000001],[2.2999999999999998],[2.2000000000000002],[3.5],[3.1000000000000001],[2.6000000000000001],[13.9]],[[0.29999999999999999],[2.5],[2.6000000000000001],[2.3999999999999999],[3.3999999999999999],[2.6000000000000001],[13.800000000000001]],[[-0.10000000000000001],[0.59999999999999998],[1.1000000000000001],[3],[1.8],[2.2000000000000002],[8.5999999999999996]],[[-0.10000000000000001],[0.29999999999999999],[2],[1.2],[1.1000000000000001],[2.2000000000000002],[6.7000000000000002]],[[0.5],[1.5],[0.80000000000000004],[1.3],[1.3999999999999999],[0],[5.4000000000000004]]]

[]

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[{"axis_id":"0","tick_interval":"5","axis_min":"-5","axis_max":"25","axis_title":"% growth","precision":"","table_units":"(%)","tooltip_units":"(%)","axis_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

Graph 3.9B - Percentage growth of gross disposable income by age of reference person, 2003-04 to 2017-18
Age of household reference person	Percentage growth (%)
15-24	2.4
25-34	15.6
35-44	22.1
45-54	27.3
55-64	27.3
65+	21.4
Total households	116.2

Graph 3.9B - Percentage growth of gross disposable income by age of reference person, 2003-04 to 2017-18

["Age of household reference person","Percentage growth"]

[["15-24","25-34","35-44","45-54","55-64","65+","Total households"],[[2.3999999999999999],[15.6],[22.100000000000001],[27.300000000000001],[27.300000000000001],[21.399999999999999],[116.2]]]

[]

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Graph 3.9 shows that households with age of reference person between 45-54 years and 55-64 years showed equal largest increases, 27.3% of the 116.2% growth in gross disposable income (GDI) from 2003-04 to 2017-18. Households with age reference person between 15-24 years showed an increase of 2.4%, well below the growth of other age brackets.

Electronic table 9 shows that, for the increase in GDI by 116.2% between 2003-04 and 2017-18, the households responsible for driving the increase of each component were varied. For GOS dwellings owned by persons and social assistance benefits, the main contributor to the increase was households with reference person 65 years and over; for compensation of employees and income tax payable, the main contributor to the increase and detraction respectively, was households with a reference person between 45-54 years ; for property income receivable, the main contributor to the increase was households with reference person 65 years and over, followed by household with reference person between 55-64 years.

Household material living standards - per household by age of reference person

Graph 3.10 - Percentage growth per household, gross disposable income by age of reference person, 2003-04 to 2017-18
Age of household reference person	Percentage growth (%)
15-24	104.3
25-34	66.6
35-44	89.1
45-54	79.1
55-64	97.9
65+	88.3
Total households	80

Graph 3.10 - Percentage growth per household, gross disposable income by age of reference person, 2003-04 to 2017-18

["Age of household reference person","Percentage growth"]

[["15-24","25-34","35-44","45-54","55-64","65+","Total households"],[[104.3],[66.599999999999994],[89.099999999999994],[79.099999999999994],[97.900000000000006],[88.299999999999997],[80]]]

[]

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Graph 3.10 indicates an increase of 80.0% for the average of all households of GDI from 2003-04 to 2017-18. Only households with reference person between 25-34 years and households with reference person 45-54 years did GDI per household grow below the average for all households for GDI, at 66.6% and 79.1% respectively.

For income tax payable, electronic tables 3, 4 and 10 illustrate that, from 2003-04 to 2017-18, the average income tax payable for all households increased from $13,300 per household to $22,776 per household, a growth of 71.2%. For households with age of reference person between 35-44 years, income tax payable per household increased from $17,351 per household in 2003-04 to $35,823 per household in 2017-18, a growth of 106.5%, which is above the average growth of all households. For households with age of reference person between 35-44 years, income tax payable in 2003-04 was 1.3 times the average of all households; by 2017-18 the ratio had increased to 1.6.

Table 3.5 Contribution by major component to the growth in gross disposable income per household, by age of reference person, 2003-04 to 2017-18, per cent

Income	15-24 years	25-34 years	35-44 years	45-54 years	55-64 years	65 years and over	All households
Gross disposable income	104.3	66.6	89.1	79.1	97.9	88.3	80.0
GOS - dwellings owned by persons	12.7	4.5	5.7	7.2	13.6	25.9	10.4
Gross mixed income	9.4	6.6	16.6	13.9	10.0	4.7	10.5
Compensation of employees	80.2	61.5	83.8	64.0	75.5	21.8	57.1
Property income receivable	4.6	4.4	9.2	13.0	20.8	24.9	14.1
Social assistance benefits	10.1	4.5	5.0	3.4	2.1	20.2	6.9
Interest payable	-2.1	-1.9	-5.4	-4.3	-7.0	-2.8	-3.8
Income tax payable	-12.2	-12.5	-23.9	-17.3	-15.7	-4.3	-14.0

Table 3.5 shows from 2003-04 to 2017-18, for all household, the largest contributor to growth in GDI per household was compensation of employees (COE). COE was the largest contributor, for most household groups. There was one exception, these were households with age of reference person 65 years and older where the largest contributor to GDI per household growth was Gross operating surplus - dwellings owned by persons, at 25.9% and property income receivable, at 24.9%. The largest detractor for all household groups was income tax payable.

Impact of redistribution measures by government and non profit institutions serving households

This section analyses the effects of income tax, social assistance benefits and social transfers in kind (STiK) have had on gross disposable income per household, by household group over the period of 2003-04 to 2017-18.

Gross disposable income is presented in a step by step format, each step includes an income receivable or payable component that illustrate the impact of the redistribution of income by government and non-profit institution serving household (NPISH).

Step 1: gross disposable income (GDI) before the addition of income from government social assistance benefits (cash) and the payment of income tax;
Step 2: step 1 GDI less income taxes payable;
Step 3: step 2 GDI plus income from government social assistance benefits (cash);
Step 4: step 3 GDI plus government and NPISH payments to households from social transfers in kind (STiK).

The impacts of redistribution measures is analysed for the five household groups (equivalised household income and net worth quintiles; main source of income, household composition; and age of household reference person). The data presented for each step is the ratio of GDI per household to the all household average (from electronic Table 11); the ratio provides the relative size of the amount of GDI in each step to the average amount for all households, which is an assessment of material living standards. Changes of the ratios from 2003-04 to 2017-18 for each step is graphically presented to measure the change in material living standards for household groups.

Equivalised income quintiles

Table 3.6 Impact of redistribution measures by government and NPISH, equivalised household income quintiles, ratio to average of all household

	Lowest	Second	Third	Fourth	Highest	All households
Ratio to all households average: 2003-04
GDI (before tax and social assistance benefits)	0.16	0.46	0.86	1.29	2.30	1.00
GDI (after tax and before social assistance benefits)	0.17	0.50	0.89	1.30	2.20	1.00
GDI (after tax and social assistance benefits)	0.38	0.65	0.90	1.19	1.93	1.00
GDI (after tax, social assistance benefits and social transfers in kind (STiK))	0.53	0.75	0.93	1.13	1.69	1.00
Ratio to all households average: 2017-18
GDI (before tax and social assistance benefits)	0.17	0.46	0.82	1.20	2.41	1.00
GDI (after tax and before social assistance benefits)	0.20	0.50	0.86	1.22	2.29	1.00
GDI (after tax and social assistance benefits)	0.36	0.62	0.87	1.14	2.06	1.00
GDI (after tax, social assistance benefits and social transfers in kind (STiK))	0.52	0.73	0.90	1.08	1.79	1.00

For 2003-04 and 2017-18, households in the lowest, second and third income quintiles, the ratios to the average of all households increased with each step, and for households in the highest income quintile the ratios to the average of all households decreased with each step. The exception was the fourth quintile, which moved away from the average GDI per household after step 2 (after income tax and before social assistance benefits) and by step 3 and step 4 moved closer to the average GDI per household.

Graph 3.11 - Redistribution measures by government and NPISH, equivalised household income quintiles, change in ratio of GDI per household, 2003-04 to 2017-18
Equivalised household income quintile	Step 1. Gross disposable income (before tax and social assistance benefits) (%)	Step 2. Gross disposable income (after tax and before social assistance benefits) (%)	Step 3. Gross disposable income (after tax and social assistance benefits) (%)	Step 4. Gross disposable income (after tax, social assistance benefits and social transfers in kind (STiK)) (%)
Lowest	1.7	2.2	-2.6	-0.9
Second	-0.6	-0.3	-2.5	-2.1
Third	-4.0	-3.2	-2.7	-2.7
Fourth	-9.0	-8.2	-4.9	-4.7
Highest	10.9	8.5	12.4	10.0

Graph 3.11 - Redistribution measures by government and NPISH, equivalised household income quintiles, change in ratio of GDI per household, 2003-04 to 2017-18

["Equivalised household income quintile","Step 1. Gross disposable income (before tax and social assistance benefits)","Step 2. Gross disposable income (after tax and before social assistance benefits)","Step 3. Gross disposable income (after tax and social assistance benefits)","Step 4. Gross disposable income (after tax, social assistance benefits and social transfers in kind (STiK))"]

[["Lowest","Second","Third ","Fourth","Highest"],[[1.7],[-0.59999999999999998],[-4],[-9],[10.9]],[[2.2000000000000002],[-0.29999999999999999],[-3.2000000000000002],[-8.1999999999999993],[8.5]],[[-2.6000000000000001],[-2.5],[-2.7000000000000002],[-4.9000000000000004],[12.4]],[[-0.90000000000000002],[-2.1000000000000001],[-2.7000000000000002],[-4.7000000000000002],[10]]]

[]

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The graph above shows the change, from 2003-04 to 2017-18, in GDI per household, following each of the four redistribution steps. For households in the highest income quintile the ratios to the average of all households increased at every step between 2003-04 and 2017-18.

Equivalised net worth quintiles

Table 3.7 Impact of redistribution measures by government and NPISH, equivalised household net worth quintiles, ratio to average of all household

	Lowest	Second	Third	Fourth	Highest	All households
Ratio to all households average: 2003-04
GDI (before tax and social assistance benefits)	0.44	0.92	1.01	1.09	1.57	1.00
GDI (after tax and before social assistance benefits)	0.44	0.92	1.01	1.08	1.59	1.00
GDI (after tax and social assistance benefits)	0.58	0.93	1.00	1.06	1.46	1.00
GDI (after tax, social assistance benefits and social transfers in kind (STiK))	0.68	0.97	1.01	1.04	1.33	1.00
Ratio to all households average: 2017-18
GDI (before tax and social assistance benefits)	0.46	0.93	0.95	0.98	1.72	1.00
GDI (after tax and before social assistance benefits)	0.48	0.92	0.94	0.98	1.71	1.00
GDI (after tax and social assistance benefits)	0.59	0.92	0.95	0.98	1.58	1.00
GDI (after tax, social assistance benefits and social transfers in kind (STiK))	0.69	0.94	0.98	0.98	1.43	1.00

For 2003-04 and 2017-18, households in the lowest net worth quintile, the ratios to the average of all households increased with each step. In 2003-04, households in the highest net worth quintile moved further away from the average ratio after step 2 (after tax and before social assistance benefits), before moving closer to the average in steps 3 and 4. In 2017-18 households in the highest net worth quintile moved closer to the average ratio at every step.

Graph 3.12 - Redistribution measures by government and NPISH, equivalised household net worth quintiles, change in ratio of GDI per household, 2003-04 to 2017-18
Equivalised household net worth quintile	Step 1. Gross disposable income (before tax and social assistance benefits) (%)	Step 2. Gross disposable income (after tax and before social assistance benefits) (%)	Step 3. Gross disposable income (after tax and social assistance benefits) (%)	Step 4. Gross disposable income (after tax, social assistance benefits and social transfers in kind (STiK)) (%)
Lowest	2.4	3.8	1.2	1.2
Second	0.2	0.2	-1.0	-2.6
Third	-6.5	-6.3	-4.7	-3.1
Fourth	-11.1	-10.4	-8.0	-6.3
Highest	14.4	12.0	12.1	10.5

 Graph 3.12 - Redistribution measures by government and NPISH, equivalised household net worth quintiles, change in ratio of GDI per household, 2003-04 to 2017-18

["Equivalised household net worth quintile","Step 1. Gross disposable income (before tax and social assistance benefits)","Step 2. Gross disposable income (after tax and before social assistance benefits)","Step 3. Gross disposable income (after tax and social assistance benefits)","Step 4. Gross disposable income (after tax, social assistance benefits and social transfers in kind (STiK))"]

[["Lowest","Second","Third ","Fourth","Highest"],[[2.3999999999999999],[0.20000000000000001],[-6.5],[-11.1],[14.4]],[[3.7999999999999998],[0.20000000000000001],[-6.2999999999999998],[-10.4],[12]],[[1.2],[-1],[-4.7000000000000002],[-8],[12.1]],[[1.2],[-2.6000000000000001],[-3.1000000000000001],[-6.2999999999999998],[10.5]]]

[]

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[{"axis_id":"0","tick_interval":"5","axis_min":"-15","axis_max":"15","axis_title":"%","precision":"","table_units":"(%)","tooltip_units":"(%)","axis_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

The graph above shows the change, from 2003-04 to 2017-18, in GDI per household, following each of the four redistribution steps. For households in the highest net wealth quintiles the ratios to the average of all households increased significantly at every step between 2003-04 and 2017-18.

Main source of income

Table 3.8 Impact of redistribution measures by government and NPISH, main source of income, ratio to average of all household

	Wages and salaries	Income from unincorporated business	Property income and superannuation	Government pensions and allowances	Other	All households
Ratio to all households average: 2003-04
GDI (before tax and social assistance benefits)	1.41	1.18	0.93	0.13	0.32	1.00
GDI (after tax and before social assistance benefits)	1.38	1.22	1.01	0.15	0.34	1.00
GDI (after tax and social assistance benefits)	1.26	1.12	0.94	0.46	0.45	1.00
GDI (after tax, social assistance benefits and social transfers in kind (STiK))	1.19	1.08	0.89	0.62	0.58	1.00
Ratio to all households average: 2017-18
GDI (before tax and social assistance benefits)	1.30	1.31	1.31	0.12	0.29	1.00
GDI (after tax and before social assistance benefits)	1.27	1.4	1.37	0.15	0.31	1.00
GDI (after tax and social assistance benefits)	1.18	1.31	1.29	0.41	0.37	1.00
GDI (after tax, social assistance benefits and social transfers in kind (STiK))	1.13	1.23	1.22	0.59	0.52	1.00

For 2003-04 and 2017-18, households with MSI wages and salaries the ratios to the average of all household decreased with each step. MSI income from unincorporated businesses and MSI property income and superannuation showed a similar pattern with the exception of step 2, which moved away from the average GDI per household, before moving closer to the average GDI per household in step 3 and 4. Households with MSI government pensions and allowances and MSI other, the ratio increased with each step moving closer to the average, with it more than doubling from step 2 to step 3 for those in households with MSI government pensions and allowances.

Graph 3.13 - Redistribution measures by government and NPISH, main source of income (a), change in ratio of GDI per household, 2003-04 to 2017-18
Main source of income	Step 1. Gross disposable income (before tax and social assistance benefits) (%)	Step 2. Gross disposable income (after tax and before social assistance benefits) (%)	Step 3. Gross disposable income (after tax and social assistance benefits) (%)	Step 4. Gross disposable income (after tax, social assistance benefits and social transfers in kind (STiK)) (%)
Wages and salaries	-10.8	-10.9	-7.4	-6.8
Income from unincorporated business	12.6	18.3	19.0	15.4
Property income and superannuation	38.3	36.2	34.8	32.4
Government pensions and allowances	-0.1	0.1	-4.7	-3.1
Other	-2.8	-3.3	-7.7	-6.1

Graph 3.13 - Redistribution measures by government and NPISH, main source of income (a), change in ratio of GDI per household, 2003-04 to 2017-18

["Main source of income","Step 1. Gross disposable income (before tax and social assistance benefits)","Step 2. Gross disposable income (after tax and before social assistance benefits)","Step 3. Gross disposable income (after tax and social assistance benefits)","Step 4. Gross disposable income (after tax, social assistance benefits and social transfers in kind (STiK))"]

[["Wages and salaries","Income from  unincorporated business","Property income and superannuation","Government pensions and allowances","Other"],[[-10.800000000000001],[12.6],[38.299999999999997],[-0.10000000000000001],[-2.7999999999999998]],[[-10.9],[18.300000000000001],[36.200000000000003],[0.10000000000000001],[-3.2999999999999998]],[[-7.4000000000000004],[19],[34.799999999999997],[-4.7000000000000002],[-7.7000000000000002]],[[-6.7999999999999998],[15.4],[32.399999999999999],[-3.1000000000000001],[-6.0999999999999996]]]

[]

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includes imputed income from owner occupied dwellings

The graph above shows the change, from 2003-04 to 2017-18, in GDI per household, following each of the four redistribution steps. For households with MSI property income and superannuation the ratios to the average GDI per household increased significantly between 2003-04 and 2017-18.

Household composition

Table 3.9 - Impact of redistribution measures by government and NPISH, household composition, ratio to average of all household

	Lone person under 65 years	Lone person over 65 years	One parent with dependent children	Couple only with reference person under 65 years	Couple only with reference person over 65 years	Two adults or more with dependent children	Other	All households
									Ratio to all households average: 2003-04
									GDI (before tax and social assistance benefits)	0.64	0.23	0.45	1.30	0.47	1.50	1.26	1.00
									GDI (after tax and before social assistance benefits)	0.63	0.25	0.45	1.30	0.52	1.48	1.25	1.00
GDI (after tax and social assistance benefits)	0.61	0.38	0.67	1.19	0.72	1.41	1.24	1.00
GDI (after tax, social assistance benefits and social transfers in kind (STiK))	0.56	0.45	0.83	1.07	0.83	1.44	1.18	1.00
Ratio to all households average: 2017-18
GDI (before tax and social assistance benefits)	0.59	0.23	0.47	1.27	0.56	1.55	1.17	1.00
GDI (after tax and before social assistance benefits)	0.59	0.26	0.48	1.25	0.63	1.51	1.19	1.00
GDI (after tax and social assistance benefits)	0.58	0.41	0.63	1.15	0.79	1.44	1.19	1.00
GDI (after tax, social assistance benefits and social transfers in kind (STiK))	0.55	0.48	0.81	1.01	0.90	1.45	1.14	1.00

For 2003-04 and 2017-18, households with lone person 65 years and over, one parent with dependent children and couple only households with reference person 65 years and over, the ratios of GDI per household to the average of all households increased with each step. For couple only households with a reference person under 65 years, the ratio to the average of all households decreased with each step.

Graph 3.14 - Redistribution measures by government and NPISH, household composition, change in ratio of GDI per household, 2003-04 to 2017-18
Household composition	Step 1. Gross disposable income (before tax and social assistance benefits) (%)	Step 2. Gross disposable income (after tax and before social assistance benefits) (%)	Step 3. Gross disposable income (after tax and social assistance benefits) (%)	Step 4. Gross disposable income (after tax, social assistance benefits and social transfers in kind (STiK)) (%)
Lone person under 65	-5.0	-4.0	-3.0	-1.7
Lone person 65 and over	0.1	1.0	2.1	2.8
One parent with dependent children	2.2	2.6	-4.1	-2.6
Couple only, reference person under 65	-2.9	-4.8	-4.7	-5.8
Couple only, reference person 65 and over	9.5	10.8	6.8	6.6
Two adults or more with dependent children	4.6	2.8	3.3	1.6
Other households	-8.9	-6.7	-5.5	-3.8

Graph 3.14 - Redistribution measures by government and NPISH, household composition, change in ratio of GDI per household, 2003-04 to 2017-18

["Household composition","Step 1. Gross disposable income (before tax and social assistance benefits)","Step 2. Gross disposable income (after tax and before social assistance benefits)","Step 3. Gross disposable income (after tax and social assistance benefits)","Step 4. Gross disposable income (after tax, social assistance benefits and social transfers in kind (STiK))"]

[["Lone person under 65","Lone person  65 and over","One parent with dependent children","Couple only, reference person under 65","Couple only, reference person 65 and over","Two adults or more with dependent children","Other households"],[[-5],[0.10000000000000001],[2.2000000000000002],[-2.8999999999999999],[9.5],[4.5999999999999996],[-8.9000000000000004]],[[-4],[1],[2.6000000000000001],[-4.7999999999999998],[10.800000000000001],[2.7999999999999998],[-6.7000000000000002]],[[-3],[2.1000000000000001],[-4.0999999999999996],[-4.7000000000000002],[6.7999999999999998],[3.2999999999999998],[-5.5]],[[-1.7],[2.7999999999999998],[-2.6000000000000001],[-5.7999999999999998],[6.5999999999999996],[1.6000000000000001],[-3.7999999999999998]]]

[]

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The graph above shows the change, from 2003-04 to 2017-18, in GDI per household, following each of the four redistribution steps. For households with a couple only, reference person 65 and over and households with two adults or more with dependent children the ratio to the average GDI per household increased between 2003-04 and 2017-18.

Age of reference person

Table 3.10 Impact of redistribution measures by government and NPISH, age of reference person, ratio to average of all household

	15-24 years	25-34 years	35-44 years	45-54 years	55-64 years	65 years and over	All households
Ratio to all households average: 2003-04
GDI (before tax and social assistance benefits)	0.71	1.12	1.21	1.40	1.00	0.37	1.00
GDI (after tax and before social assistance benefits)	0.71	1.10	1.18	1.39	1.03	0.41	1.00
GDI (after tax and social assistance benefits)	0.73	1.05	1.14	1.29	1.02	0.58	1.00
GDI (after tax, social assistance benefits and social transfers in kind (STiK))	0.73	1.00	1.16	1.25	0.98	0.66	1.00
Ratio to all households average: 2017-18
GDI (before tax and social assistance benefits)	0.79	1.02	1.30	1.39	1.14	0.42	1.00
GDI (after tax and before social assistance benefits)	0.82	1.00	1.24	1.36	1.17	0.47	1.00
GDI (after tax and social assistance benefits)	0.82	0.97	1.20	1.29	1.12	0.60	1.00
GDI (after tax, social assistance benefits and social transfers in kind (STiK))	0.83	0.93	1.22	1.25	1.06	0.69	1.00

For 2003-04 and 2017-18, households with age of reference person 65 years and over, the ratios to the average of all households GDI increased with each step. For households with age of reference person 25-34 years and 45-54 years the ratios to the average of all households decreased with each step. For households with age of reference person 35-44 years the ratios move closer to the average of all households GDI up until step 3 (after tax and social assistance benefits) before moving away at step 4 (after tax, social assistance benefits and social transfers in kind). Broadly speaking, households with age of reference person 15-24 years moved closer to the average of all households GDI at every step, although the improvement was less pronounced than for households with age of reference person 65 years and over.

Graph 3.15 - Redistribution measures by government and NPISH, age of reference person, change in ratio of GDI per household, 2003-04 to 2017-18
Age of household reference person	Step 1. Gross disposable income (before tax and social assistance benefits) (%)	Step 2. Gross disposable income (after tax and before social assistance benefits) (%)	Step 3. Gross disposable income (after tax and social assistance benefits) (%)	Step 4. Gross disposable income (after tax, social assistance benefits and social transfers in kind (STiK)) (%)
15-24	7.9	10.1	9.8	10.2
25-34	-10.2	-9.4	-7.8	-7.8
35-44	9.5	6.1	5.8	5.2
45-54	-0.6	-2.1	-0.7	0.4
55-64	14.0	14.3	10.2	7.8
65+	5.0	5.9	2.7	2.7

Graph 3.15 - Redistribution measures by government and NPISH, age of reference person, change in ratio of GDI per household, 2003-04 to 2017-18

["Age of household reference person","Step 1. Gross disposable income (before tax and social assistance benefits)","Step 2. Gross disposable income (after tax and before social assistance benefits)","Step 3. Gross disposable income (after tax and social assistance benefits)","Step 4. Gross disposable income (after tax, social assistance benefits and social transfers in kind (STiK))"]

[["15-24","25-34","35-44","45-54","55-64","65+"],[[7.9000000000000004],[-10.199999999999999],[9.5],[-0.59999999999999998],[14],[5]],[[10.1],[-9.4000000000000004],[6.0999999999999996],[-2.1000000000000001],[14.300000000000001],[5.9000000000000004]],[[9.8000000000000007],[-7.7999999999999998],[5.7999999999999998],[-0.69999999999999996],[10.199999999999999],[2.7000000000000002]],[[10.199999999999999],[-7.7999999999999998],[5.2000000000000002],[0.40000000000000002],[7.7999999999999998],[2.7000000000000002]]]

[]

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[{"axis_id":"0","tick_interval":"5","axis_min":"-15","axis_max":"15","axis_title":"%","precision":"","table_units":"(%)","tooltip_units":"(%)","axis_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

The graph above shows the change, from 2003-04 to 2017-18, in GDI per household, following each of the four redistribution steps. For households with age of reference person 15-24 years and 55-64 years, the ratios to the average GDI per household increased significantly between 2003-04 and 2017-18.

Consumption

Electronic table 9 shows from 2003-04 and 2017-18, ASNA household final consumption expenditure (HFCE) grew 106.5%; the increase was driven by an increase in rent and dwelling services (139.7% growth), transport (84.5% growth), food (88.4%), and recreation and culture (76.9% growth).

Equivalised income quintiles

Contribution of income quintiles to consumption growth

Graph 3.16 - Percentage growth of household final consumption expenditure, equivalised household income quintile, 2003-04 to 2017-18
Equivalised household income quintile	Percentage growth (%)
Lowest	13.2
Second	13.3
Third	18.1
Fourth	22
Highest	39.9
Total households	106.5

Graph 3.16 - Percentage growth of household final consumption expenditure, equivalised household income quintile, 2003-04 to 2017-18

["Equivalised household income quintile","Percentage growth"]

[["Lowest","Second","Third","Fourth","Highest","Total households"],[[13.199999999999999],[13.300000000000001],[18.100000000000001],[22],[39.899999999999999],[106.5]]]

[]

[{"axis_id":"0","tick_interval":"","axis_min":"","axis_max":"","axis_title":"","precision":-1,"axis_units":"","tooltip_units":"","table_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

[{"axis_id":"0","tick_interval":"25","axis_min":"0","axis_max":"125","axis_title":"% growth","precision":"","table_units":"(%)","tooltip_units":"(%)","axis_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

Graph 3.16 shows that households in the highest income quintile had the largest increase, 39.9% of the 106.5% growth in household final consumption expenditure (HFCE) from 2003-04 to 2017-18. The contribution by the lowest, second, third and fourth quintiles to the increase were 13.2%, 13.3%, 18.1%, and 22.0% respectively.

Household material living standards - per household by income quintile

Graph 3.17 - Percentage growth per household final consumption expenditure, by equivalised household income quintiles, 2003-04 to 2017-18
Equivalised household income quintile	Percentage growth (%)
Lowest	77.9
Second	53.1
Third	61.9
Fourth	60.8
Highest	94.5
Total households	71.9

Graph 3.17 - Percentage growth per household final consumption expenditure, by equivalised household income quintiles, 2003-04 to 2017-18

["Equivalised household income quintile","Percentage growth"]

[["Lowest","Second","Third","Fourth","Highest","Total households"],[[77.900000000000006],[53.100000000000001],[61.899999999999999],[60.799999999999997],[94.5],[71.900000000000006]]]

[]

[{"axis_id":"0","tick_interval":"","axis_min":"","axis_max":"","axis_title":"","precision":-1,"axis_units":"","tooltip_units":"","table_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

[{"axis_id":"0","tick_interval":"20","axis_min":"0","axis_max":"100","axis_title":"% growth","precision":"","table_units":"(%)","tooltip_units":"(%)","axis_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

Graph 3.17 indicates an increase of 71.9% for the average of all households of HFCE from 2003-04 to 2017-18, with the lowest and highest income quintile growing above the average of all households at 77.9% and 94.5% respectively. The second, third and fourth quintiles grew below the average for all households at 53.1%, 61.9%, and 60.8% respectively.

Table 3.11 Contribution by major component to the growth in actual individual consumption per household, by equivalised household income quintile, 2003-04 to 2017-18, per cent

Consumption	Lowest	Second	Third	Fourth	Highest	All households
Actual individual consumption	84.7	63.4	67.9	65.7	97.5	76.9
Food	5.9	4.1	5.2	4.4	5.2	4.9
Alcoholic beverages and tobacco	2.5	3.0	2.7	1.7	2.1	2.4
Rent and dwelling services	11.8	10.7	13.4	13.1	21.9	14.9
Health	5.7	2.7	4.4	2.6	4.5	3.9
Social transfer in kind - Health	13.7	12.0	9.9	7.7	6.5	9.4
Transport	5.0	3.5	4.2	4.5	7.9	5.2
Recreation and culture	2.9	2.2	3.9	4.1	7.6	4.5
Education services	2.2	1.2	2	1.7	4.1	2.4
Social transfer in kind - Education	9.6	6.3	5.2	3.6	3.3	5.2
Social transfer in kind - Other	10.9	6.9	4.1	2.6	1.6	4.6

Table 3.11 shows that, for all households, the largest contributor to growth in actual individual consumption (AIC) per household between 2003-04 and 2017-18 was rent and dwelling services at 14.9% growth. Rent and dwelling services was the largest contributor per household in the third, fourth and highest income quintiles. Social transfers in kind - health was the largest contributor for the lowest and second income quintiles, and the second largest contributor to the third and fourth quintiles.

Equivalised net worth quintiles

Contribution of net worth quintiles to consumption growth

Graph 3.18 - Percentage growth of household final consumption expenditure, equivalised household net worth quintile, 2003-04 to 2017-18
Equivalised household net worth quintile	Percentage growth (%)
Lowest	12
Second	16.6
Third	18.7
Fourth	22.3
Highest	37
Total households	106.5

Graph 3.18 - Percentage growth of household final consumption expenditure, equivalised household net worth quintile, 2003-04 to 2017-18

["Equivalised household net worth quintile","Percentage growth"]

[["Lowest","Second","Third","Fourth","Highest","Total households"],[[12],[16.600000000000001],[18.699999999999999],[22.300000000000001],[37],[106.5]]]

[]

[{"axis_id":"0","tick_interval":"","axis_min":"","axis_max":"","axis_title":"","precision":-1,"axis_units":"","tooltip_units":"","table_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

[{"axis_id":"0","tick_interval":"25","axis_min":"0","axis_max":"125","axis_title":"% growth","precision":"","table_units":"(%)","tooltip_units":"(%)","axis_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

Graph 3.18, shows that households in the highest net worth quintile showed the largest increase, 37.0% of the of 106.5% growth in final household consumption expenditure (HFCE) from 2003-04 to 2017-18. The contribution by the lowest, second, third and fourth quintiles to the increase were 12.0%, 16.6%, 18.7% and 22.3% respectively.

Household material living standards - per household by net worth quintile

Graph 3.19 - Percentage growth per household, final consumption expenditure by equivalised household net worth quintiles, 2003-04 to 2017-18
Equivalised household net worth quintile	Percentage growth (%)
Lowest	55.4
Second	54.8
Third	60.6
Fourth	71.2
Highest	102.9
Total households	71.9

Graph 3.19 - Percentage growth per household, final consumption expenditure by equivalised household net worth quintiles, 2003-04 to 2017-18

["Equivalised household net worth quintile","Percentage growth"]

[["Lowest","Second","Third","Fourth","Highest","Total households"],[[55.399999999999999],[54.799999999999997],[60.600000000000001],[71.200000000000003],[102.90000000000001],[71.900000000000006]]]

[]

[{"axis_id":"0","tick_interval":"","axis_min":"","axis_max":"","axis_title":"","precision":-1,"axis_units":"","tooltip_units":"","table_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

[{"axis_id":"0","tick_interval":"25","axis_min":"0","axis_max":"125","axis_title":"% growth","precision":"","table_units":"(%)","tooltip_units":"(%)","axis_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

Graph 3.19 indicates an increase of 71.9% for the average of all households of HFCE from 2003-04 to 2017-18, only the highest net worth quintile grew above the average at 102.9% growth. The lowest, second, third and fourth quintiles grew below the average of all households at 55.4%, 54.8%, 60.6%, and 71.2% respectively.

Table 3.12 Contribution by major component to the growth in actual individual consumption per household, by equivalised household net worth quintiles, 2003-04 to 2017-18, per cent

Consumption	Lowest	Second	Third	Fourth	Highest	All households
Actual individual consumption	66.4	60.1	69.2	76.4	105.1	76.9
Food	4.9	5.3	5.0	4.5	4.8	4.9
Alcoholic beverages and tobacco	2.0	2.8	3.1	2.1	1.9	2.4
Rent and dwelling services	9.7	8.8	10.6	14.9	27.0	14.9
Health	2.6	3.7	3.0	4.6	5.1	3.9
Social transfer in kind - Health	10.1	7.8	10.7	10.0	8.9	9.4
Transport	3.7	3.5	5.9	4.8	7.5	5.2
Recreation and culture	2.6	3.8	3.3	4.2	7.5	4.5
Education services	1.3	2.0	2.1	2.6	3.6	2.4
Social transfer in kind - Education	8.6	5.9	5.3	3.9	3.1	5.2
Social transfer in kind - Other	8.8	3.8	4.5	4.0	2.9	4.6

Table 3.12 shows that, for all households, the largest contributor to growth in actual individual consumption per household between 2003-04 and 2017-18 was rent and dwelling services at 14.9% growth. Rent and dwelling services was the largest contributor per household in all net worth quintile groups except the lowest quintile where the main contributor was social transfers in kind - health. The consumption per household of social transfers in kind - health varied in growth between the net worth quintiles, while consumption of social transfers in kind - education growth increased between the net worth quintiles at 3.1%, 3.9%, 5.3%, 5.9%, and 8.6% from the highest to the lowest net worth quintiles, respectively.

Main source of income

Contribution of main source of income to consumption growth

Graph 3.20 - Percentage growth of household final consumption expenditure (a), main source of income, 2003-04 to 2017-18
Main source of income	Percentage growth (%)
Wages and salaries	75.6
Income from unincorporated business	7.3
Property income and superannuation	14.2
Government pensions and allowances	8.3
Other	1.1
Total households	106.5

Graph 3.20 - Percentage growth of household final consumption expenditure (a), main source of income, 2003-04 to 2017-18

["Main source of income","Percentage growth"]

[["Wages and salaries","Income from  unincorporated business","Property income and superannuation","Government pensions and allowances","Other","Total households"],[[75.599999999999994],[7.2999999999999998],[14.199999999999999],[8.3000000000000007],[1.1000000000000001],[106.5]]]

[]

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[{"axis_id":"0","tick_interval":"25","axis_min":"0","axis_max":"125","axis_title":"% growth","precision":"","table_units":"(%)","tooltip_units":"(%)","axis_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

includes imputed income from owner occupied dwellings.

Graph 3.20, shows that households with MSI, wages and salaries showed the largest increase, 75.6% of the of 106.5% growth in final household consumption expenditure (HFCE) from 2003-04 to 2017-18, and was the household group responsible for the increase in most of the components that increased HFCE.

Household material living standards - per household by main source of income

Graph 3.21 - Percentage growth per household final consumption expenditure (a), by main source of income, 2003-04 to 2017-18
Main source of income	Percentage growth (%)
Wages and salaries	66
Income from unincorporated business	71.6
Property income and superannuation	162.8
Government pensions and allowances	38.8
Other	63.4
Total households	71.9

 Graph 3.21 - Percentage growth per household final consumption expenditure (a), by main source of income, 2003-04 to 2017-18

["Main source of income","Percentage growth"]

[["Wages and salaries","Income from unincorporated business","Property income and superannuation","Government pensions and allowances","Other","Total households"],[[66],[71.599999999999994],[162.80000000000001],[38.799999999999997],[63.399999999999999],[71.900000000000006]]]

[]

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[{"axis_id":"0","tick_interval":"50","axis_min":"0","axis_max":"200","axis_title":"% growth","precision":"","table_units":"(%)","tooltip_units":"(%)","axis_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

includes imputed income from owner occupied dwellings.

Graph 3.21 indicates an increase of 71.9% for the average of all households of HFCE from 2003-04 to 2017-18. Households with MSI property income and superannuation grew above the average of all households at 162.8%.

Electronic table 10 shows that the strong growth in HFCE per household for MSI property income and superannuation seen over the time series is particularly evident in the two most recent time periods, 2013-14 to 2015-16 and 2015-16 to 2017-18, with per household growth of 30.4% and 18.1% respectively.

Table 3.13 - Contribution by major component to the growth in actual individual consumption per household, by main source of income, 2003-04 to 2017-18, per cent

Consumption	Wages and salaries	Income from unincorporated business	Property income and superannuation	Government pensions and allowances	Other	All households
							Actual individual consumption	70.4	76.8	163.8	58.8	69.4	76.9
							Food	4.9	4.2	9.0	2.8	6.9	4.9
Alcoholic beverages and tobacco	2.4	1.6	3.6	1.9	1.9	2.4
Rent and dwelling services	13.4	26.3	31.3	8.4	9.1	14.9
Health	3.8	3.6	8.3	2.6	5.3	3.9
Social transfer in kind - Health	6.9	10.1	14.8	17.0	5.9	9.4
Transport	5.1	3.7	14.7	1.5	1.6	5.2
Recreation and culture	4.6	3.4	11.5	0.5	4.7	4.5
Education services	2.5	1.6	4.1	0.6	8.2	2.4
Social transfer in kind - Education	5.6	3.8	2.5	3.5	11.5	5.2
Social transfer in kind - Other	2.1	3.8	6.4	14.0	3.2	4.6

Table 3.13 shows that, for all households, the largest contributor to growth in actual individual consumption (AIC) per household between 2003-04 and 2017-18 was rent and dwelling services at 14.9% growth. Rent and dwelling services was the largest contributor in household groups with MSI wages and salaries, MSI income from unincorporated business, and MSI property income and superannuation, and was the second largest contributor for Households with MSI other. Households with MSI government pensions had rent and dwelling services as the third largest contributor to growth at 8.4%; this was behind social transfers in kind - health (17.0% growth) and social transfers in kind - other (14.0% growth).

Household composition

Contribution of household composition to consumption growth

Graph 3.22 - Percentage growth of household final consumption expenditure, household composition, 2003-04 to 2017-18
Household composition	Percentage growth (%)
Lone person under 65	7.5
Lone person 65 and over	6.5
One parent with dependent children	3.7
Couple only, reference person under 65	14.4
Couple only, reference person 65 and over	12.5
Two adults or more with dependent children	42.8
Other households	19.2
Total households	106.5

Graph 3.22 - Percentage growth of household final consumption expenditure, household composition, 2003-04 to 2017-18

["Household composition","Percentage growth"]

[["Lone person under 65","Lone person  65 and over","One parent with dependent children","Couple only, reference person under 65","Couple only, reference person 65 and over","Two adults or more with dependent children","Other households","Total households"],[[7.5],[6.5],[3.7000000000000002],[14.4],[12.5],[42.799999999999997],[19.199999999999999],[106.5]]]

[]

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[{"axis_id":"0","tick_interval":"25","axis_min":"0","axis_max":"125","axis_title":"% growth","precision":"","table_units":"(%)","tooltip_units":"(%)","axis_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

Graph 3.22 shows that households with two adults or more with dependent children showed the largest increase, 42.8% of the of 106.5% growth in HFCE from 2003-04 to 2017-18, and these households were responsible for the increase in most of the components that increased HFCE.

Household material living standards - per household by household composition

Graph 3.23 - Percentage growth per household, final consumption expenditure by household composition, 2003-04 to 2017-18
Household composition	Percentage growth (%)
Lone person under 65	50.3
Lone person 65 and over	90.5
One parent with dependent children	71.2
Couple only, reference person under 65	54.1
Couple only, reference person 65 and over	117
Two adults or more with dependent children	81.3
Other households	57.2
Total households	71.9

 Graph 3.23 - Percentage growth per household, final consumption expenditure by household composition, 2003-04 to 2017-18

["Household composition","Percentage growth"]

[["Lone person under 65","Lone person  65 and over","One parent with dependent children","Couple only, reference person under 65","Couple only, reference person 65 and over","Two adults or more with dependent children","Other households","Total households"],[[50.299999999999997],[90.5],[71.200000000000003],[54.100000000000001],[117],[81.299999999999997],[57.200000000000003],[71.900000000000006]]]

[]

[{"axis_id":"0","tick_interval":"","axis_min":"","axis_max":"","axis_title":"","precision":-1,"axis_units":"","tooltip_units":"","table_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

[{"axis_id":"0","tick_interval":"25","axis_min":"0","axis_max":"125","axis_title":"% growth","precision":"","table_units":"(%)","tooltip_units":"(%)","axis_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

Graph 3.23 indicates an increase of 71.9% for the average of all households of HFCE from 2003-04 to 2017-18. Households with couple only, reference person 65 and over, lone person 65 and over and two adults or more with dependent children and one parent with dependent children grew above the average of all households at 117.0%, 90.5% and 81.3% respectively.

Table 3.14 Contribution by major component to the growth in actual individual consumption per household, by household composition, 2003-04 to 2017-18, per cent

Consumption	Lone person under 65 years	Lone person over 65 years	One parent with dependent children	Couple only with reference person under 65 years	Couple only with reference person over 65 years	Two adults or more with dependent children	Other	All households
									Actual individual consumption	59.4	94.9	78.8	56.1	111.6	82.9	65.3	76.9
									Food	3.9	4.6	5.4	3.7	5.8	5.6	4.1	4.9
									Alcoholic beverages and tobacco	2.7	3.1	1.4	1.9	2.9	2.3	2.4	2.4
Rent and dwelling services	10.7	23.1	11.4	13.0	24.2	15.0	11.8	14.9
Health	3.1	4.0	4.6	3.0	8.9	3.9	2.4	3.9
Social transfer in kind - Health	7.3	19.0	8.3	5.8	19.0	7.3	10.0	9.4
Transport	3.0	4.8	4.1	3.9	8.8	5.9	4.5	5.2
Recreation and culture	4.0	4.7	2.0	3.6	5.8	5.2	3.7	4.5
Education services	1.8	1.6	2.9	1.2	0.0	4.5	0.4	2.4
Social transfer in kind - Education	1.9	0.4	16.9	0.9	0.1	9.7	2.2	5.2
Social transfer in kind - Other	6.1	11.1	6.8	0.5	10.1	3.1	5.0	4.6

Table 3.14 shows that, for all households, the largest contributor to growth in actual individual consumption (AIC) per household between 2003-04 and 2017-18 was rent and dwelling services at 14.9%, followed by social transfers in kind - health at 9.4 % and transport at 5.2%. Rent and dwelling services was the largest contributor for all household groups classified by household composition with the exception of one parent with dependent children where it was the second largest contributor at 11.4%; after social transfers in kind - education at 16.9%. For all household groups, the second largest contributor to growth in AIC was social transfers in kind - health, with the exception one parent with dependent children, as previously mentioned, and households with two adults or more with dependent children. For households with two adults or more with dependent children, the second largest contributor to AIC growth was social transfers in kind - education.

Age of reference person

Contribution of age of reference person to consumption growth

Graph 3.24 - Percentage growth of household final consumption expenditure, age of reference person, 2003-04 to 2017-18
Age of household reference	Percentage growth (%)
15-24	1.1
25-34	11.9
35-44	15.7
45-54	25
55-64	27
65+	26
Total households	106.5

Graph 3.24 - Percentage growth of household final consumption expenditure, age of reference person, 2003-04 to 2017-18

["Age of household reference","Percentage growth"]

[["15-24","25-34","35-44","45-54","55-64","65+","Total households"],[[1.1000000000000001],[11.9],[15.699999999999999],[25],[27],[26],[106.5]]]

[]

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[{"axis_id":"0","tick_interval":"25","axis_min":"0","axis_max":"125","axis_title":"% growth","precision":"","table_units":"(%)","tooltip_units":"(%)","axis_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

Graph 3.24 shows that households with reference person between 55-64 years showed the largest increase, 27.0% of the of 106.5% growth in HFCE from 2003-04 to 2017-18. These households were followed closely by households with reference person aged 65 years and over, increasing HFCE by 26.0% and by households with reference person aged 45-54, increasing HFCE by 25.0%.

Household material living standards - per household by age of reference person

Graph 3.25 - Percentage growth per household, final consumption expenditure by age of reference person, 2003-04 to 2017-18
Age of household reference	Percentage growth (%)
15-24	50.8
25-34	50.6
35-44	63.9
45-54	77.2
55-64	90.9
65+	99.1
Total households	71.9

Graph 3.25 - Percentage growth per household, final consumption expenditure by age of reference person, 2003-04 to 2017-18

["Age of household reference","Percentage growth"]

[["15-24","25-34","35-44","45-54","55-64","65+","Total households"],[[50.799999999999997],[50.600000000000001],[63.899999999999999],[77.200000000000003],[90.900000000000006],[99.099999999999994],[71.900000000000006]]]

[]

[{"axis_id":"0","tick_interval":"","axis_min":"","axis_max":"","axis_title":"","precision":-1,"axis_units":"","tooltip_units":"","table_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

[{"axis_id":"0","tick_interval":"24","axis_min":"0","axis_max":"120","axis_title":"% growth","precision":"","table_units":"(%)","tooltip_units":"(%)","axis_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

Graph 3.25 indicates an increase of 71.9% for the average of all households of HFCE from 2003-04 to 2017-18. Households with reference person between 55-64 years, households with reference person 45-54 years and 65 years and over grew above the average of all households at 90.9%, 77.2% and 99.1% respectively.

Table 3.15 Contribution by major component to the growth in actual individual consumption per household, by age of reference person, 2003-04 to 2017-18, per cent

Consumption	15-24 years	25-34 years	35-44 years	45-54 years	55-64 years	65 years and over	All households
Actual individual consumption	64.1	55.7	71.6	82.9	91.6	98.2	76.9
Food	4.8	4.2	4.7	5.5	5.7	5.5	4.9
Alcoholic beverages and tobacco	0.1	1.2	1.8	3.0	2.8	3.9	2.4
Rent and dwelling services	8.1	9.7	13.0	15.3	17.7	21.1	14.9
Health	2.3	4.0	3.6	3.3	3.6	5.5	3.9
Social transfer in kind - Health	7.9	6.4	7.3	7.4	8.6	16.9	9.4
Transport	5.8	4.4	5.4	5.9	4.9	7.3	5.2
Recreation and culture	3.2	2.6	4.6	5.0	7.5	4.8	4.5
Education services	2.8	1.6	3.3	5	1.2	0.9	2.4
Social transfer in kind - Education	10.4	4.8	10.3	8.6	2.8	1.0	5.2
Social transfer in kind - Other	3.8	2.2	3.9	3.1	3.4	9.8	4.6

Table 3.15 shows that, for all households, the largest contributor to growth in actual individual consumption (AIC) per household between 2003-04 and 2017-18 was rent and dwelling services at 14.9%. Growth in rent and dwelling services was the largest contributor in most household groups classified by age of reference, except households with age of reference person 15-24 years, where it was social transfers in kind - education. For households with reference person 65 years and older, AIC per household grew 98.2%; the largest contributor to this growth after rent and dwelling services was social transfers in kind - health at 16.9%. For households with age of reference person between 35-44 years and 45-54 years, the second largest contributor to growth in AIC after rent and dwelling services was social transfers in kind - education.

Gross saving

Electronic table 9 shows from 2003-04 to 2017-18, ASNA gross saving grew 192.3%. The increase in gross saving was mainly seen in the years prior and during the GFC where in 2005-06 to 2007-08 (prior to the GFC) it was 35.6% and during 2007-08 to 2009-10 (during the GFC) gross saving grew 43.2%. Post GFC, the growth in gross saving has slowed from a growth of 24.3% in 2009-10 to 2011-12 down to a negative growth of -5.3% in 2015-16 to 2017-18.

Equivalised income quintiles

Contribution of income quintiles to gross saving growth

Graph 3.26A - Percentage growth of gross saving, equivalised household income quintile, 2003-04 onwards
Equivalised household income quintile	2003-04 - 2005-06 (%)	2005-06 - 2007-08 (%)	2007-08 - 2009-10 (%)	2009-10 - 2011-12 (%)	2011-12 - 2013-14 (%)	2013-14 - 2015-16 (%)	2015-16 - 2017-18 (%)
Lowest	-9.6	-4.6	2.3	-2.2	-0.6	0.2	-4.6
Second	0.0	0.3	2.8	2.6	2.1	0.7	0.1
Third	3.5	-2.7	7.1	6.3	1.1	-0.9	0.8
Fourth	4.2	4.1	16.1	5.2	-1.4	1.0	0.7
Highest	21.1	38.4	14.9	12.3	4.4	0.6	-2.4
Total households	19.2	35.6	43.2	24.3	5.7	1.6	-5.3

Graph 3.26A - Percentage growth of gross saving, equivalised household income quintile, 2003-04 onwards

["Equivalised household income quintile","2003-04 - 2005-06","2005-06 - 2007-08","2007-08 - 2009-10","2009-10 - 2011-12","2011-12 - 2013-14","2013-14 - 2015-16","2015-16 - 2017-18"]

[["Lowest","Second","Third ","Fourth","Highest","Total households"],[[-9.5999999999999996],[0],[3.5],[4.2000000000000002],[21.100000000000001],[19.199999999999999]],[[-4.5999999999999996],[0.29999999999999999],[-2.7000000000000002],[4.0999999999999996],[38.399999999999999],[35.600000000000001]],[[2.2999999999999998],[2.7999999999999998],[7.0999999999999996],[16.100000000000001],[14.9],[43.200000000000003]],[[-2.2000000000000002],[2.6000000000000001],[6.2999999999999998],[5.2000000000000002],[12.300000000000001],[24.300000000000001]],[[-0.59999999999999998],[2.1000000000000001],[1.1000000000000001],[-1.3999999999999999],[4.4000000000000004],[5.7000000000000002]],[[0.20000000000000001],[0.69999999999999996],[-0.90000000000000002],[1],[0.59999999999999998],[1.6000000000000001]],[[-4.5999999999999996],[0.10000000000000001],[0.80000000000000004],[0.69999999999999996],[-2.3999999999999999],[-5.2999999999999998]]]

[]

[{"axis_id":"0","tick_interval":"","axis_min":"","axis_max":"","axis_title":"","precision":-1,"axis_units":"","tooltip_units":"","table_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

[{"axis_id":"0","tick_interval":"10","axis_min":"-20","axis_max":"50","axis_title":"% growth","precision":"","table_units":"(%)","tooltip_units":"(%)","axis_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

Graph 3.26B - Percentage growth of gross saving, equivalised household income quintile, 2003-04 to 2017-18
Equivalised household income quintile	Percentage growth (%)
Lowest	-31.9
Second	19.2
Third	29.6
Fourth	48.7
Highest	126.8
Total households	192.3

Graph 3.26B - Percentage growth of gross saving, equivalised household income quintile, 2003-04 to 2017-18

["Equivalised household income quintile","Percentage growth"]

[["Lowest","Second","Third","Fourth","Highest","Total households"],[[-31.899999999999999],[19.199999999999999],[29.600000000000001],[48.700000000000003],[126.8],[192.30000000000001]]]

[]

[{"axis_id":"0","tick_interval":"","axis_min":"","axis_max":"","axis_title":"","precision":-1,"axis_units":"","tooltip_units":"","table_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

[{"axis_id":"0","tick_interval":"50","axis_min":"-50","axis_max":"200","axis_title":"% growth","precision":"","table_units":"(%)","tooltip_units":"(%)","axis_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

Graph 3.26 shows that households in the highest income quintile showed the largest increase (126.8%) of the 192.3% total household increase in gross saving from 2003-04 to 2017-18. For the same period the lowest quintile contributed negatively to gross saving by 31.9%. The contribution of the highest quintile is particularly evident in the increase from 2005-06 to 2007-08, where households in the highest income quintile increased gross saving by 38.4%. By comparison, the lowest income quintile contributed negatively to the increase in gross saving for 5 out of the 7 periods analysed, only showing positive contributions of 2.3% in 2007-08 to 2009-10 and 0.2% in 2013-14 to 2015-16.

Equivalised net worth quintiles

Contribution of net worth quintiles to gross saving growth

Graph 3.27A - Percentage growth of gross saving, equivalised household net worth quintile, 2003-04 onwards
Equivalised household net worth quintile	2003-04 - 2005-06 (%)	2005-06 - 2007-08 (%)	2007-08 - 2009-10 (%)	2009-10 - 2011-12 (%)	2011-12 - 2013-14 (%)	2013-14 - 2015-16 (%)	2015-16 - 2017-18 (%)
Lowest	3.2	-5.0	6.7	4.6	1.8	0.3	3.1
Second	8.1	11.9	10.7	6.2	2.3	-4.2	3.8
Third	-4.0	8.6	2.2	6.3	0.5	6.0	-1.9
Fourth	-8.3	14.4	-2.3	4.1	0.8	3.2	-5.7
Highest	20.2	5.8	25.8	3.1	0.3	-3.7	-4.6
Total households	19.2	35.6	43.2	24.3	5.7	1.6	-5.3

Graph 3.27A - Percentage growth of gross saving, equivalised household net worth quintile, 2003-04 onwards

["Equivalised household net worth quintile","2003-04 - 2005-06","2005-06 - 2007-08","2007-08 - 2009-10","2009-10 - 2011-12","2011-12 - 2013-14","2013-14 - 2015-16","2015-16 - 2017-18"]

[["Lowest","Second","Third ","Fourth","Highest","Total households"],[[3.2000000000000002],[8.0999999999999996],[-4],[-8.3000000000000007],[20.199999999999999],[19.199999999999999]],[[-5],[11.9],[8.5999999999999996],[14.4],[5.7999999999999998],[35.600000000000001]],[[6.7000000000000002],[10.699999999999999],[2.2000000000000002],[-2.2999999999999998],[25.800000000000001],[43.200000000000003]],[[4.5999999999999996],[6.2000000000000002],[6.2999999999999998],[4.0999999999999996],[3.1000000000000001],[24.300000000000001]],[[1.8],[2.2999999999999998],[0.5],[0.80000000000000004],[0.29999999999999999],[5.7000000000000002]],[[0.29999999999999999],[-4.2000000000000002],[6],[3.2000000000000002],[-3.7000000000000002],[1.6000000000000001]],[[3.1000000000000001],[3.7999999999999998],[-1.8999999999999999],[-5.7000000000000002],[-4.5999999999999996],[-5.2999999999999998]]]

[]

[{"axis_id":"0","tick_interval":"","axis_min":"","axis_max":"","axis_title":"","precision":-1,"axis_units":"","tooltip_units":"","table_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

[{"axis_id":"0","tick_interval":"20","axis_min":"-20","axis_max":"60","axis_title":"% growth","precision":"","table_units":"(%)","tooltip_units":"(%)","axis_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

Graph 3.27B - Percentage growth of gross saving, equivalised household net worth quintile, 2003-04 to 2017-18
Equivalised household net worth quintile	Percentage growth (%)
Lowest	34.4
Second	59.3
Third	38.2
Fourth	8.9
Highest	51.4
Total households	192.3

Graph 3.27B - Percentage growth of gross saving, equivalised household net worth quintile, 2003-04 to 2017-18

["Equivalised household net worth quintile","Percentage growth"]

[["Lowest","Second","Third","Fourth","Highest","Total households"],[[34.399999999999999],[59.299999999999997],[38.200000000000003],[8.9000000000000004],[51.399999999999999],[192.30000000000001]]]

[]

[{"axis_id":"0","tick_interval":"","axis_min":"","axis_max":"","axis_title":"","precision":-1,"axis_units":"","tooltip_units":"","table_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

[{"axis_id":"0","tick_interval":"50","axis_min":"0","axis_max":"200","axis_title":"% growth","precision":"","table_units":"(%)","tooltip_units":"(%)","axis_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

Graph 3.27, shows that households in the second net worth quintile showed the largest increase, 59.3% of the 192.3% total household increase in gross saving from 2003-04 to 2017-18. All quintiles showed a negative contribution to gross saving in the periods analysed, with the second net worth quintile showing a negative contribution of 4.2% between 2013-14 to 2015-16, and the fourth net worth quintile showing the largest negative contribution between 2015-16 to 2017-18 of 5.7%. Most of the household quintiles have shown a trend downwards in gross saving growth since 2007-08, however the highest quintile displayed their significant decline from 2009-10 showing a growth rate of 3.1% in 2009-10 to 2011-12 from a growth rate of 25.8% in 2007-08 to 2009-10, and has been showing a negative contribution since 2013-14 onwards.

Main source of income

Contribution of main source of income to gross saving growth

Graph 3.28A - Percentage growth of gross saving (a), main source of income, 2003-04 onwards
Main source of income	2003-04 - 2005-06 (%)	2005-06 - 2007-08 (%)	2007-08 - 2009-10 (%)	2009-10 - 2011-12 (%)	2011-12 - 2013-14 (%)	2013-14 - 2015-16 (%)	2015-16 - 2017-18 (%)
Wages and salaries	15.9	51.5	12.6	24.2	1.4	-2.4	-5.5
Income from unincorporated business	-1.5	-4.2	23.5	-5.5	3.2	5.4	1.4
Property income and superannuation	14.8	-0.9	-0.6	2.8	-2.2	-3.4	-2.7
Government pensions and allowances	-10.5	-9.6	7.6	3.7	3.2	2.4	2.0
Other	0.4	-1.2	0.1	-0.9	0.1	-0.4	-0.5
Total household	19.2	35.6	43.2	24.3	5.7	1.6	-5.3

Graph 3.28A - Percentage growth of gross saving (a), main source of income, 2003-04 onwards

["Main source of income","2003-04 - 2005-06","2005-06 - 2007-08","2007-08 - 2009-10","2009-10 - 2011-12","2011-12 - 2013-14","2013-14 - 2015-16","2015-16 - 2017-18"]

[["Wages and salaries","Income from  unincorporated business","Property income and superannuation","Government pensions and allowances","Other","Total household"],[[15.9],[-1.5],[14.800000000000001],[-10.5],[0.40000000000000002],[19.199999999999999]],[[51.5],[-4.2000000000000002],[-0.90000000000000002],[-9.5999999999999996],[-1.2],[35.600000000000001]],[[12.6],[23.5],[-0.59999999999999998],[7.5999999999999996],[0.10000000000000001],[43.200000000000003]],[[24.199999999999999],[-5.5],[2.7999999999999998],[3.7000000000000002],[-0.90000000000000002],[24.300000000000001]],[[1.3999999999999999],[3.2000000000000002],[-2.2000000000000002],[3.2000000000000002],[0.10000000000000001],[5.7000000000000002]],[[-2.3999999999999999],[5.4000000000000004],[-3.3999999999999999],[2.3999999999999999],[-0.40000000000000002],[1.6000000000000001]],[[-5.5],[1.3999999999999999],[-2.7000000000000002],[2],[-0.5],[-5.2999999999999998]]]

[]

[{"axis_id":"0","tick_interval":"","axis_min":"","axis_max":"","axis_title":"","precision":-1,"axis_units":"","tooltip_units":"","table_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

[{"axis_id":"0","tick_interval":"20","axis_min":"-20","axis_max":"60","axis_title":"%","precision":"","table_units":"(%)","tooltip_units":"(%)","axis_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

includes imputed income from owner occupied dwellings.

Graph 3.28B - Percentage growth of gross saving (a), main source of income, 2003-04 to 2017-18
Main source of income	Percentage growth (%)
Wages and salaries	133.4
Income from unincorporated business	48.7
Property income and superannuation	-5.9
Government pensions and allowances	21.5
Other	-5.3
Total household	192.3

Graph 3.28B - Percentage growth of gross saving (a), main source of income, 2003-04 to 2017-18

["Main source of income","Percentage growth"]

[["Wages and salaries","Income from  unincorporated business","Property income and superannuation","Government pensions and allowances","Other","Total household"],[[133.40000000000001],[48.700000000000003],[-5.9000000000000004],[21.5],[-5.2999999999999998],[192.30000000000001]]]

[]

[{"axis_id":"0","tick_interval":"","axis_min":"","axis_max":"","axis_title":"","precision":-1,"axis_units":"","tooltip_units":"","table_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

[{"axis_id":"0","tick_interval":"50","axis_min":"-50","axis_max":"200","axis_title":"% growth","precision":"","table_units":"(%)","tooltip_units":"(%)","axis_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

includes imputed income from owner occupied dwellings.

Graph 3.28 shows that households with MSI wages and salaries showed the largest increase (133.4%) of the 192.3% total household increase in gross saving from 2003-04 to 2017-18. The contribution of households MSI wages and salaries is particularly evident in the increase from 2005-06 to 2007-08, period prior to the Global Financial Crisis (GFC), where these households contributed 51.5% of the total 35.6% increase in household gross saving. The large contribution by MSI wages and salaries was offset by the remaining four MSI categories, namely, income from unincorporated business, property income and superannuation, government pensions and allowances, and other, detracting from gross saving between 2005-06 to 2007-08 of 4.2%, 0.9%, 9.6%, and 1.2% respectively. From 2015-16 to 2017-18, households with MSI wages and salaries detracted 5.5% and was the largest contributor to the total household gross saving detraction of 5.3%, the first total detraction in total household gross saving series for the time series. This detraction to gross savings by households with MSI wages and salaries was partially offset by positive contributions from MSI government pensions and allowances (2.0%) and MSI income from unincorporated businesses (1.4%).

Household composition

Contribution of household composition to gross saving growth

Graph 3.29A - Percentage growth of gross saving, household composition, 2003-04 onwards
Household composition	2003-04 - 2005-06 (%)	2005-06 - 2007-08 (%)	2007-08 - 2009-10 (%)	2009-10 - 2011-12 (%)	2011-12 - 2013-14 (%)	2013-14 - 2015-16 (%)	2015-16 - 2017-18 (%)
Lone person under 65	6.1	1.1	2.9	2.7	-0.4	-1.4	3.6
Lone person 65 and over	-1.0	-0.8	2.0	-0.1	-0.7	0.8	-1.3
One parent with dependent children	1.9	-6.6	3.4	-1.2	4.0	-1.9	-1.1
Couple only, reference person under 65	8.1	19.0	1.0	9.9	-2.5	-4.6	6.0
Couple only, reference person 65 and over	-2.4	4.9	-1.7	3.8	-0.5	-2.1	-4.2
Two adults or more with dependent children	4.3	1.5	32.8	-4.3	6.9	12.6	-10.0
Other households	2.3	16.6	2.7	13.5	-1.2	-1.8	1.7
Total households	19.2	35.6	43.2	24.3	5.7	1.6	-5.3

Graph 3.29A - Percentage growth of gross saving, household composition, 2003-04 onwards

["Household composition","2003-04 - 2005-06","2005-06 - 2007-08","2007-08 - 2009-10","2009-10 - 2011-12","2011-12 - 2013-14","2013-14 - 2015-16","2015-16 - 2017-18"]

[["Lone person under 65","Lone person  65 and over","One parent with dependent children","Couple only, reference person under 65","Couple only, reference person 65 and over","Two adults or more with dependent children","Other households","Total households"],[[6.0999999999999996],[-1],[1.8999999999999999],[8.0999999999999996],[-2.3999999999999999],[4.2999999999999998],[2.2999999999999998],[19.199999999999999]],[[1.1000000000000001],[-0.80000000000000004],[-6.5999999999999996],[19],[4.9000000000000004],[1.5],[16.600000000000001],[35.600000000000001]],[[2.8999999999999999],[2],[3.3999999999999999],[1],[-1.7],[32.799999999999997],[2.7000000000000002],[43.200000000000003]],[[2.7000000000000002],[-0.10000000000000001],[-1.2],[9.9000000000000004],[3.7999999999999998],[-4.2999999999999998],[13.5],[24.300000000000001]],[[-0.40000000000000002],[-0.69999999999999996],[4],[-2.5],[-0.5],[6.9000000000000004],[-1.2],[5.7000000000000002]],[[-1.3999999999999999],[0.80000000000000004],[-1.8999999999999999],[-4.5999999999999996],[-2.1000000000000001],[12.6],[-1.8],[1.6000000000000001]],[[3.6000000000000001],[-1.3],[-1.1000000000000001],[6],[-4.2000000000000002],[-10],[1.7],[-5.2999999999999998]]]

[]

[{"axis_id":"0","tick_interval":"","axis_min":"","axis_max":"","axis_title":"","precision":-1,"axis_units":"","tooltip_units":"","table_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

[{"axis_id":"0","tick_interval":"20","axis_min":"-20","axis_max":"60","axis_title":"% growth","precision":"","table_units":"(%)","tooltip_units":"(%)","axis_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

Graph 3.29B - Percentage growth of gross saving, household composition, 2003-04 to 2017-18
Household composition	Percentage growth (%)
Lone person under 65	23.8
Lone person 65 and over	-2.5
One parent with dependent children	-0.8
Couple only, reference person under 65	52.8
Couple only, reference person 65 and over	-11.4
Two adults or more with dependent children	76.3
Other households	54.1
Total households	192.3

  Graph 3.29B - Percentage growth of gross saving, household composition, 2003-04 to 2017-18

["Household composition","Percentage growth"]

[["Lone person under 65","Lone person  65 and over","One parent with dependent children","Couple only, reference person under 65","Couple only, reference person 65 and over","Two adults or more with dependent children","Other households","Total households"],[[23.800000000000001],[-2.5],[-0.80000000000000004],[52.799999999999997],[-11.4],[76.299999999999997],[54.100000000000001],[192.30000000000001]]]

[]

[{"axis_id":"0","tick_interval":"","axis_min":"","axis_max":"","axis_title":"","precision":-1,"axis_units":"","tooltip_units":"","table_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

[{"axis_id":"0","tick_interval":"50","axis_min":"-50","axis_max":"200","axis_title":"% growth","precision":"","table_units":"(%)","tooltip_units":"(%)","axis_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

Graph 3.29 shows that households with two adults with dependent children were the largest contributors to the 192.3% increase in total household gross saving from 2003-04 to 2017-18, contributing 76.3% to the total household growth. The contribution of households with two adults or more with dependent children is particularly evident in the increase to gross saving from 2007-08 to 2009-10, during the Global Financial Crisis (GFC), where they increased gross saving by 32.8% of the total 43.2% increase. Couple only households under 65 (52.8%) and other households (54.1%) were the next contributors to the 192.3% increase in total household gross saving from 2003-04 to 2017-18.

Age of reference person

Contribution of age of reference person to gross saving growth

Graph 3.30A - Percentage growth of gross saving, age of reference person, 2003-04 onwards
Age of household reference person	2003-04 - 2005-06 (%)	2005-06 - 2007-08 (%)	2007-08 - 2009-10 (%)	2009-10 - 2011-12 (%)	2011-12 - 2013-14 (%)	2013-14 - 2015-16 (%)	2015-16 - 2017-18 (%)
15-24	6.4	-3.2	-0.2	1.5	-0.5	-0.4	3.1
25-34	1.4	-4.1	16.4	7.6	-1.3	-2.3	4.8
35-44	7.3	12.2	8.3	6.4	1.0	6.6	0.1
45-54	4.6	7.5	12.6	-0.2	7.3	-1.2	-1.6
55-64	11.0	9.3	5.2	7.2	-1.1	-2.8	-1.8
65+	-11.5	13.8	0.9	1.7	0.2	1.7	-9.9
Total households	19.2	35.6	43.2	24.3	5.7	1.6	-5.3

Graph 3.30A - Percentage growth of gross saving, age of reference person, 2003-04 onwards

["Age of household reference person","2003-04 - 2005-06","2005-06 - 2007-08","2007-08 - 2009-10","2009-10 - 2011-12","2011-12 - 2013-14","2013-14 - 2015-16","2015-16 - 2017-18"]

[["15-24","25-34","35-44","45-54","55-64","65+","Total households"],[[6.4000000000000004],[1.3999999999999999],[7.2999999999999998],[4.5999999999999996],[11],[-11.5],[19.199999999999999]],[[-3.2000000000000002],[-4.0999999999999996],[12.199999999999999],[7.5],[9.3000000000000007],[13.800000000000001],[35.600000000000001]],[[-0.20000000000000001],[16.399999999999999],[8.3000000000000007],[12.6],[5.2000000000000002],[0.90000000000000002],[43.200000000000003]],[[1.5],[7.5999999999999996],[6.4000000000000004],[-0.20000000000000001],[7.2000000000000002],[1.7],[24.300000000000001]],[[-0.5],[-1.3],[1],[7.2999999999999998],[-1.1000000000000001],[0.20000000000000001],[5.7000000000000002]],[[-0.40000000000000002],[-2.2999999999999998],[6.5999999999999996],[-1.2],[-2.7999999999999998],[1.7],[1.6000000000000001]],[[3.1000000000000001],[4.7999999999999998],[0.10000000000000001],[-1.6000000000000001],[-1.8],[-9.9000000000000004],[-5.2999999999999998]]]

[]

[{"axis_id":"0","tick_interval":"","axis_min":"","axis_max":"","axis_title":"","precision":-1,"axis_units":"","tooltip_units":"","table_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

[{"axis_id":"0","tick_interval":"20","axis_min":"-20","axis_max":"60","axis_title":"% growth","precision":"","table_units":"(%)","tooltip_units":"(%)","axis_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

Graph 3.30B - Percentage growth of gross saving, age of reference person, 2003-04 to 2017-18
Age of household reference person	Percentage growth (%)
15-24	12.6
25-34	44.9
35-44	73.3
45-54	46
55-64	29.9
65 and over	-14.5
Total households	192.3

Graph 3.30B - Percentage growth of gross saving, age of reference person, 2003-04 to 2017-18

["Age of household reference person","Percentage growth"]

[["15-24","25-34","35-44","45-54","55-64","65 and over","Total households"],[[12.6],[44.899999999999999],[73.299999999999997],[46],[29.899999999999999],[-14.5],[192.30000000000001]]]

[]

[{"axis_id":"0","tick_interval":"","axis_min":"","axis_max":"","axis_title":"","precision":-1,"axis_units":"","tooltip_units":"","table_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

[{"axis_id":"0","tick_interval":"50","axis_min":"-50","axis_max":"200","axis_title":"% growth","precision":"","table_units":"(%)","tooltip_units":"(%)","axis_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

Graph 3.30 shows that households with reference person between 35-44 years showed the largest increase 73.3% of the 192.3% total household increase in gross saving from 2003-04 to 2017-18. Households with reference person between 45-54 years increased 46.0%, similarly households with reference person aged between 25-34 years increased gross saving 44.9%. Households with reference person 65 years and older negatively contributed to gross saving by 14.5%. Households with reference person 65 years and older showed a significant negative contribution of 9.9% in gross saving from 2015-16 to 2017-18, resulting in an overall detraction in total household gross saving of 5.3% in that period.

Net worth

Electronic table 9 shows from 2003-04 and 2017-18, ASNA net worth grew 152.0%. The increase was driven by an increase in residential land and dwellings assets (143.8% growth), currency and deposits (235.3% growth) and insurance technical reserves (245.0% growth); these were offset by loan liabilities (182.3% growth).

Equivalised income quintiles

Contribution of income quintiles to net worth growth

Graph 3.31A - Percentage growth of net worth, by equivalised household income quintile, 2003-04 onwards
Equivalised household income quintile	2003-04 - 2005-06 (%)	2005-06 - 2007-08 (%)	2007-08 - 2009-10 (%)	2009-10 - 2011-12 (%)	2011-12 - 2013-14 (%)	2013-14 - 2015-16 (%)	2015-16 - 2017-18 (%)
Lowest	1.2	1.2	2.3	-0.5	0.0	1.8	1.3
Second	0.7	2.4	1.3	0.9	-0.3	1.8	2.5
Third	4.8	5.1	-0.4	-0.1	2.6	2.6	2.5
Fourth	3.7	3.1	2.8	0.8	3.3	3.4	3.2
Highest	11.1	3.1	5.1	1.8	10.9	8.8	5.0
Total Households	21.5	14.9	11.1	3.0	16.6	18.3	14.4

Graph 3.31A - Percentage growth of net worth, by equivalised household income quintile, 2003-04 onwards

["Equivalised household income quintile","2003-04 - 2005-06","2005-06 - 2007-08","2007-08 - 2009-10","2009-10 - 2011-12","2011-12 - 2013-14","2013-14 - 2015-16","2015-16 - 2017-18"]

[["Lowest","Second","Third ","Fourth","Highest","Total Households"],[[1.2],[0.69999999999999996],[4.7999999999999998],[3.7000000000000002],[11.1],[21.5]],[[1.2],[2.3999999999999999],[5.0999999999999996],[3.1000000000000001],[3.1000000000000001],[14.9]],[[2.2999999999999998],[1.3],[-0.40000000000000002],[2.7999999999999998],[5.0999999999999996],[11.1]],[[-0.5],[0.90000000000000002],[-0.10000000000000001],[0.80000000000000004],[1.8],[3]],[[0],[-0.29999999999999999],[2.6000000000000001],[3.2999999999999998],[10.9],[16.600000000000001]],[[1.8],[1.8],[2.6000000000000001],[3.3999999999999999],[8.8000000000000007],[18.300000000000001]],[[1.3],[2.5],[2.5],[3.2000000000000002],[5],[14.4]]]

[]

[{"axis_id":"0","tick_interval":"","axis_min":"","axis_max":"","axis_title":"","precision":-1,"axis_units":"","tooltip_units":"","table_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

[{"axis_id":"0","tick_interval":"5","axis_min":"-5","axis_max":"25","axis_title":"% growth","precision":"","table_units":"(%)","tooltip_units":"(%)","axis_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

Graph 3.31B - Percentage growth of net worth, by equivalised household income quintile, 2003-04 to 2017-18
Equivalised household income quintile	Percentage growth (%)
Lowest	11.3
Second	15.1
Third	24.6
Fourth	31.4
Highest	69.6
Total households	152

Graph 3.31B - Percentage growth of net worth, by equivalised household income quintile, 2003-04 to 2017-18

["Equivalised household income quintile","Percentage growth"]

[["Lowest","Second","Third","Fourth","Highest","Total households"],[[11.300000000000001],[15.1],[24.600000000000001],[31.399999999999999],[69.599999999999994],[152]]]

[]

[{"axis_id":"0","tick_interval":"","axis_min":"","axis_max":"","axis_title":"","precision":-1,"axis_units":"","tooltip_units":"","table_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

[{"axis_id":"0","tick_interval":"40","axis_min":"0","axis_max":"160","axis_title":"% growth","precision":"","table_units":"(%)","tooltip_units":"(%)","axis_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

Graph 3.31 shows that households in the highest income quintile showed the largest increase, 69.6% of the of 152.0% growth in net worth from 2003-04 to 2017-18.

Electronic table 9 shows between 2003-04 and 2017-18, the highest quintile was responsible for majority of the balance sheet components that increased net worth by 152.0%.

Household material living standards - per household by income quintile

Graph 3.32A - Percentage growth per household, net worth by equivalised household income quintile, 2003-04 onwards
Equivalised household income quintile	2003-04 - 2005-06 (%)	2005-06 - 2007-08 (%)	2007-08 - 2009-10 (%)	2009-10 - 2011-12 (%)	2011-12 - 2013-14 (%)	2013-14 - 2015-16 (%)	2015-16 - 2017-18 (%)
Lowest	12.1	13.4	24.0	-8.3	-2.6	24.3	13.1
Second	2.1	16.8	6.1	4.7	-4.6	13.5	18.4
Third	27.8	27.5	-5.7	-3.5	13.1	14.7	11.9
Fourth	14.7	13.2	9.4	1.3	12.9	15.2	12.1
Highest	23.6	5.0	8.1	1.4	23.2	18.7	7.4
Total households	18.4	12.6	6.8	0.1	13.5	17.1	10.7

Graph 3.32A - Percentage growth per household, net worth by equivalised household income quintile, 2003-04 onwards

["Equivalised household income quintile","2003-04 - 2005-06","2005-06 - 2007-08","2007-08 - 2009-10","2009-10 - 2011-12","2011-12 - 2013-14","2013-14 - 2015-16","2015-16 - 2017-18"]

[["Lowest","Second","Third","Fourth","Highest","Total households"],[[12.1],[2.1000000000000001],[27.800000000000001],[14.699999999999999],[23.600000000000001],[18.399999999999999]],[[13.4],[16.800000000000001],[27.5],[13.199999999999999],[5],[12.6]],[[24],[6.0999999999999996],[-5.7000000000000002],[9.4000000000000004],[8.0999999999999996],[6.7999999999999998]],[[-8.3000000000000007],[4.7000000000000002],[-3.5],[1.3],[1.3999999999999999],[0.10000000000000001]],[[-2.6000000000000001],[-4.5999999999999996],[13.1],[12.9],[23.199999999999999],[13.5]],[[24.300000000000001],[13.5],[14.699999999999999],[15.199999999999999],[18.699999999999999],[17.100000000000001]],[[13.1],[18.399999999999999],[11.9],[12.1],[7.4000000000000004],[10.699999999999999]]]

[]

[{"axis_id":"0","tick_interval":"","axis_min":"","axis_max":"","axis_title":"","precision":-1,"axis_units":"","tooltip_units":"","table_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

[{"axis_id":"0","tick_interval":"10","axis_min":"-10","axis_max":"30","axis_title":"% growth","precision":"","table_units":"(%)","tooltip_units":"(%)","axis_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

Graph 3.32B - Percentage growth per household, net worth by equivalised household income quintile, 2003-04 to 2017-18
Equivalised household income quintile	Percentage growth (%)
Lowest	97.7
Second	70
Third	115.3
Fourth	109.9
Highest	123.4
Total households	109.8

 Graph 3.32B - Percentage growth per household, net worth by equivalised household income quintile, 2003-04 to 2017-18

["Equivalised household income quintile","Percentage growth"]

[["Lowest","Second","Third","Fourth","Highest","Total households"],[[97.700000000000003],[70],[115.3],[109.90000000000001],[123.40000000000001],[109.8]]]

[]

[{"axis_id":"0","tick_interval":"","axis_min":"","axis_max":"","axis_title":"","precision":-1,"axis_units":"","tooltip_units":"","table_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

[{"axis_id":"0","tick_interval":"25","axis_min":"0","axis_max":"125","axis_title":"% growth","precision":"","table_units":"(%)","tooltip_units":"(%)","axis_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

Graph 3.32 indicates an increase of 109.8% for the average of all households of net worth from 2003-04 to 2017-18, with the third and highest income quintiles growing above the average of all households, the fourth quintile just above the average, with an increase of 109.9%. The lowest and second quintiles were below the average growth of net worth per household, at 97.7% and 70.0% respectively.

Electronic tables 3, 4 and 10 illustrate that from 2003-04 to 2017-18, the average residential dwelling and land for all households increased from $356,961 per household to $724,496 per household, a growth of 103.0%. For households in the highest income quintile, residential dwelling and land per household increased from $638,088 per household in 2003-04 to $1,454,132 per household in 2017-18, a growth of 127.9%, which was above the average for all households. For highest income quintile, the residential dwelling and land was 1.79 times the average of all households in 2003-04 and by 2017-18 the ratio had increased to 2.01.

Table 3.16 Contribution by major component to the growth in net worth per household, by equivalised household income quintile, 2003-04 to 2017-18, per cent

Balance sheet	Lowest	Second	Third	Fourth	Highest	All households
Net worth	97.7	70.0	115.3	109.9	123.4	109.8
Residential dwelling and land	76.1	47.8	78.2	71.8	75.8	71.5
Currency and deposits	14.5	11.9	15.9	14.3	14.0	14.1
Insurance technical reserves	27.3	21.1	38.5	41.1	48.5	39.8
Loans and placements	-31.0	-16.3	-25.3	-26.3	-28.3	-26.0

Table 3.16 shows that for all households, the largest contributor to growth in average net worth per household was residential dwelling and land, at 71.5%. Residential dwelling and land was the largest contributor for all income quintiles. Insurance technical reserves was the next largest contributor to growth in net worth per household for all income quintiles. Loan borrowings detracted from the average growth of net worth of all households by 26.0%, in particular for the lowest income quintile where it detracted 31.0% from the growth of net worth per household.

Equivalised household net worth quintiles

Contribution of net worth quintiles to net worth growth

Graph 3.33A - Percentage growth of net worth, by equivalised household net worth quintile, 2003-04 onwards
Equivalised household net worth quintile	2003-04 - 2005-06 (%)	2005-06 - 2007-08 (%)	2007-08 - 2009-10 (%)	2009-10 - 2011-12 (%)	2011-12 - 2013-14 (%)	2013-14 - 2015-16 (%)	2015-16 - 2017-18 (%)
Lowest	0.2	0.0	0.1	0.0	0.2	0.1	0.0
Second	1.2	1.0	0.1	-0.4	1.0	1.1	0.7
Third	2.9	1.7	1.7	0.0	1.3	2.5	1.9
Fourth	3.0	3.1	2.8	1.1	3.4	3.9	3.0
Highest	14.2	9.1	6.5	2.3	10.7	10.6	8.7
Total households	21.5	14.9	11.1	3.0	16.6	18.3	14.4

Graph 3.33A - Percentage growth of net worth, by equivalised household net worth quintile, 2003-04 onwards

["Equivalised household net worth quintile","2003-04 - 2005-06","2005-06 - 2007-08","2007-08 - 2009-10","2009-10 - 2011-12","2011-12 - 2013-14","2013-14 - 2015-16","2015-16 - 2017-18"]

[["Lowest","Second","Third ","Fourth","Highest","Total households"],[[0.20000000000000001],[1.2],[2.8999999999999999],[3],[14.199999999999999],[21.5]],[[0],[1],[1.7],[3.1000000000000001],[9.0999999999999996],[14.9]],[[0.10000000000000001],[0.10000000000000001],[1.7],[2.7999999999999998],[6.5],[11.1]],[[0],[-0.40000000000000002],[0],[1.1000000000000001],[2.2999999999999998],[3]],[[0.20000000000000001],[1],[1.3],[3.3999999999999999],[10.699999999999999],[16.600000000000001]],[[0.10000000000000001],[1.1000000000000001],[2.5],[3.8999999999999999],[10.6],[18.300000000000001]],[[0],[0.69999999999999996],[1.8999999999999999],[3],[8.6999999999999993],[14.4]]]

[]

[{"axis_id":"0","tick_interval":"","axis_min":"","axis_max":"","axis_title":"","precision":-1,"axis_units":"","tooltip_units":"","table_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

[{"axis_id":"0","tick_interval":"5","axis_min":"0","axis_max":"25","axis_title":"% growth","precision":"","table_units":"(%)","tooltip_units":"(%)","axis_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

Graph 3.33B - Percentage growth of net worth, by equivalised household net worth quintile, 2003-04 to 2017-18
Equivalised household net worth quintile	Percentage growth (%)
Lowest	0.9
Second	7.1
Third	18.3
Fourth	31.8
Highest	93.8
Total households	152

 Graph 3.33B - Percentage growth of net worth, by equivalised household net worth quintile, 2003-04 to 2017-18

["Equivalised household net worth quintile","Percentage growth"]

[["Lowest","Second","Third","Fourth","Highest","Total households"],[[0.90000000000000002],[7.0999999999999996],[18.300000000000001],[31.800000000000001],[93.799999999999997],[152]]]

[]

[{"axis_id":"0","tick_interval":"","axis_min":"","axis_max":"","axis_title":"","precision":-1,"axis_units":"","tooltip_units":"","table_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

[{"axis_id":"0","tick_interval":"50","axis_min":"0","axis_max":"200","axis_title":"% growth","precision":"","table_units":"(%)","tooltip_units":"(%)","axis_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

Graph 3.33 shows that households in the highest net worth quintile showed the largest increase, 93.8% of the of 152.0% growth in total households net worth from 2003-04 to 2017-18, nearly two thirds of the overall increase. Similar patterns were observed for the contribution by the highest net worth quintile for the analysed periods from 2003-04 onwards.

Electronic table 9 shows between 2003-04 and 2017-18, the highest net worth quintile was responsible for majority of the balance sheet components that increased net worth 152.0%. From 2003-04 to 2017-18, insurance technical reserve (ITR), which is the largest financial asset, grew by 245.0%. A significant proportion of the growth occurred from 2003-04 to 2005-06 increasing 36.9% and during the GFC period, 2007-08 to 2009-10 ITR increased 8.0%.

Household material living standards - per household by net worth quintile

Graph 3.34 - Percentage growth per household, net worth by equivalised household net worth quintile, 2003-04 to 2017-18
Equivalised household net worth quintile	Percentage growth (%)
Lowest	178.4
Second	105
Third	108.6
Fourth	102.6
Highest	111.5
Total households	109.8

Graph 3.34 - Percentage growth per household, net worth by equivalised household net worth quintile, 2003-04 to 2017-18

["Equivalised household net worth quintile","Percentage growth"]

[["Lowest","Second","Third","Fourth","Highest","Total households"],[[178.40000000000001],[105],[108.59999999999999],[102.59999999999999],[111.5],[109.8]]]

[]

[{"axis_id":"0","tick_interval":"","axis_min":"","axis_max":"","axis_title":"","precision":-1,"axis_units":"","tooltip_units":"","table_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

[{"axis_id":"0","tick_interval":"50","axis_min":"0","axis_max":"200","axis_title":"% growth","precision":"","table_units":"(%)","tooltip_units":"(%)","axis_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

Graph 3.34 indicates an increase of 109.8% for the average of all households of net worth from 2003-04 to 2017-18, with the lowest and highest net worth quintiles growing above the average of all households, at 178.4% and 111.5% respectively.

Electronic tables 3, 4 and 10 illustrate that from 2003-04 to 2017-18, the average ITR for all households increased from $109,340 per household to $314,043 per household, a growth of 187.2%. For households in the lowest net worth quintile, ITR per household increased from $11,943 per household in 2003-04 to $35,233 per household in 2017-18, a growth of 195.0%, which was above the average growth of all households. For the lowest net worth quintile, the ITR in 2003-04 and 2017-18 was 0.11 times the average of all households.

Table 3.17 Contribution by major component to the growth in net worth per household, by equivalised household net worth, 2003-04 to 2017-18, per cent

Balance sheet	Lowest	Second	Third	Fourth	Highest	All households
Net worth	178.4	105.0	108.6	102.6	111.5	109.8
Residential dwelling and land	209.9	119.7	102.0	77.1	58.0	71.5
Currency and deposits	111.7	21.6	12.9	13.5	13.3	14.1
Insurance technical reserves	240.0	67.0	38.1	30.7	39.7	39.8
Loans and placements	-407.5	-108.4	-49.0	-23.3	-13.1	-26.0

Table 3.17 shows that for all households, the largest contributor to growth in average net worth per household was residential dwelling and land at 71.5%; it was the largest contributor for most net worth quintiles, apart from the lowest net worth quintile where ITR was the largest contributor to growth in net worth per household, at 240.0%. ITR was the second largest contributor to net worth per household for all net worth quintiles apart from the lowest quintile, where residential dwelling and land was the second largest contributor, at 209.9%.

Main source of income

Contribution of main source of income to net worth growth

Graph 3.35 - Percentage growth of net worth (a), by main source of income, 2003-04 to 2017-18
Main source of income	Percentage growth (%)
Wages and salaries	83.3
Income from unincorporated business	21.4
Property income and superannuation	33.7
Government pensions and allowances	12.9
Other	0.8
Total households	152

Graph 3.35 - Percentage growth of net worth (a), by main source of income, 2003-04 to 2017-18

["Main source of income","Percentage growth"]

[["Wages and salaries","Income from  unincorporated business","Property income and superannuation","Government pensions and allowances","Other","Total households"],[[83.299999999999997],[21.399999999999999],[33.700000000000003],[12.9],[0.80000000000000004],[152]]]

[]

[{"axis_id":"0","tick_interval":"","axis_min":"","axis_max":"","axis_title":"","precision":-1,"axis_units":"","tooltip_units":"","table_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

[{"axis_id":"0","tick_interval":"40","axis_min":"0","axis_max":"200","axis_title":"%","precision":"","table_units":"(%)","tooltip_units":"(%)","axis_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

includes imputed income from owner occupied dwellings.

Graph 3.35, shows that households with MSI wages and salaries showed the largest increase, 83.3% of the 152.0% growth in net worth from 2003-04 to 2017-18, followed by households with MSI property income and superannuation, with 33.7% of the increase.

Electronic table 9 shows between 2003-04 and 2017-18, households with MSI wages and salaries was responsible for majority of the balance sheet components that increased net worth 152.0%. From 2003-04 to 2017-18, currency and deposit assets grew by 235.3%, with most of the growth occurring in the earlier periods analysed.

Household material living standards - per household by main source of income

Graph 3.36 - Percentage growth per household (a), net worth by main source of income, 2003-04 to 2017-18
Main source of income	Percentage growth (%)
Wages and salaries	99.4
Income from unincorporated business	146.9
Property income and superannuation	165.9
Government pensions and allowances	74.8
Other	160.9
Total households	109.8

Graph 3.36 - Percentage growth per household (a), net worth by main source of income, 2003-04 to 2017-18

["Main source of income","Percentage growth"]

[["Wages and salaries","Income from  unincorporated business","Property income and superannuation","Government pensions and allowances","Other","Total households"],[[99.400000000000006],[146.90000000000001],[165.90000000000001],[74.799999999999997],[160.90000000000001],[109.8]]]

[]

[{"axis_id":"0","tick_interval":"","axis_min":"","axis_max":"","axis_title":"","precision":-1,"axis_units":"","tooltip_units":"","table_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

[{"axis_id":"0","tick_interval":"50","axis_min":"0","axis_max":"200","axis_title":"% growth","precision":"","table_units":"(%)","tooltip_units":"(%)","axis_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

includes imputed income from owner occupied dwellings.

Graph 3.36 indicates an increase of 109.8% for the average of all households of net worth from 2003-04 to 2017-18, with households with MSI income from unincorporated business, property income and superannuation, and other, growing their net worth per household above the average of all households, 146.9%, 165.9% and 160.9% respectively.

Table 3.18 Contribution by major component to the growth in net worth per household, by main source of income, 2003-04 to 2017-18, per cent

Balance sheet	Wages and salaries	Income from unincorporated business	Property income and superannuation	Government pensions and allowances	Other	All households
							Net worth	99.4	146.9	165.9	74.8	160.9	109.8
							Residential dwelling and land	75.4	99.0	62.1	49.4	140.6	71.5
Currency and deposits	12.3	13.9	23.6	13.7	34.8	14.1
Insurance technical reserves	41.6	22.6	68.8	13.1	24.9	39.8
Loans and placements	-36.9	-17.5	-7.8	-4.5	-53.5	-26.0

Table 3.18 shows that for all households, the largest contributor to growth in average net worth per household was residential dwelling and land at 71.5%. It was the largest contributor for most MSI household groups (ranging from 49.4% to 140.6%) apart from households with MSI property income and superannuation where insurance technical reserve (ITR) was the largest contributor to growth in net worth per household, at 68.8%. Loan borrowings detracted from the average growth of net worth of all households by 26.0%, and in particular households with MSI wages and salaries where it detracted 36.9% from the growth of net worth per household, leaving these households with a growth in net worth per household of 99.4%, below the average for all households of 109.8%.

Household composition

Contribution of household composition to net worth growth

Graph 3.37 - Percentage growth of net worth, by household composition, 2003-04 to 2017-18
Household composition	Percentage growth (%)
Lone person under 65	12.5
Lone person 65 and over	12.7
One parent with dependent children	3.5
Couple only, reference person under 65	21.1
Couple only, reference person 65 and over	29.2
Two adults or more with dependent children	44.3
Other households	28.7
Total households	152

Graph 3.37 - Percentage growth of net worth, by household composition, 2003-04 to 2017-18

["Household composition","Percentage growth"]

[["Lone person under 65","Lone person  65 and over","One parent with dependent children","Couple only, reference person under 65","Couple only, reference person 65 and over","Two adults or more with dependent children","Other households","Total households"],[[12.5],[12.699999999999999],[3.5],[21.100000000000001],[29.199999999999999],[44.299999999999997],[28.699999999999999],[152]]]

[]

[{"axis_id":"0","tick_interval":"","axis_min":"","axis_max":"","axis_title":"","precision":-1,"axis_units":"","tooltip_units":"","table_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

[{"axis_id":"0","tick_interval":"18","axis_min":"0","axis_max":"160","axis_title":"% growth","precision":"","table_units":"(%)","tooltip_units":"(%)","axis_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

Graph 3.37 shows that households containing two adults or more with dependent children showed the largest increase 44.3% of the of 152.0% growth in net worth from 2003-04 to 2017-18, followed by couple only households with reference person 65 years and over, 29.2% of the increase, and other households, 28.7% of the increase. One parent households with dependent children contributed only 3.5% to the increase in net worth.

Electronic table 9 shows between 2003-04 and 2017-18, households containing two adults or more with dependent children were responsible for majority of the balance sheet components that increased net worth 152.0%. From 2003-04 to 2017-18, loan borrowing grew by 182.3%, majority of this increase occurred prior to the GFC (2003-04 to 2007-08). The largest contributions to the increase in loan borrowing was from households containing two adults or more with dependent children (92.5%) and households with couple only with reference person under 65 years (36.3%).

Household material living standards - per household by household composition

Graph 3.38 - Percentage growth per household, net worth by household composition, 2003-04 to 2017-18
Household composition	Percentage growth (%)
Lone person under 65	119.3
Lone person 65 and over	92.4
One parent with dependent children	197.1
Couple only, reference person under 65	65.8
Couple only, reference person 65 and over	142.1
Two adults or more with dependent children	110.3
Other households	127.5
Total households	109.8

Graph 3.38 - Percentage growth per household, net worth by household composition, 2003-04 to 2017-18

["Household composition","Percentage growth"]

[["Lone person under 65","Lone person  65 and over","One parent with dependent children","Couple only, reference person under 65","Couple only, reference person 65 and over","Two adults or more with dependent children","Other households","Total households"],[[119.3],[92.400000000000006],[197.09999999999999],[65.799999999999997],[142.09999999999999],[110.3],[127.5],[109.8]]]

[]

[{"axis_id":"0","tick_interval":"","axis_min":"","axis_max":"","axis_title":"","precision":-1,"axis_units":"","tooltip_units":"","table_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

[{"axis_id":"0","tick_interval":"50","axis_min":"0","axis_max":"200","axis_title":"% growth","precision":"","table_units":"(%)","tooltip_units":"(%)","axis_units":"","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

Graph 3.38 indicates an increase of 109.8% for the average of all households of net worth from 2003-04 to 2017-18, with most household groups growing above the average net worth for all households, with the exception of households containing lone persons over 65 years (92.4%), and couple only households with reference person under 65 years (65.8%).

Table 3.19 Contribution by major component to the growth in net worth per household, by household composition, 2003-04 to 2017-18, per cent

Balance sheet	Lone person under 65 years	Lone person over 65 years	One parent with dependent children	Couple only with reference person under 65 years	Couple only with reference person over 65 years	Two adults or more with dependent children	Other	All households
									Net worth	119.3	92.4	197.1	65.8	142.1	110.3	127.5	109.8
									Residential dwelling and land	71.8	54.9	156.0	43.9	62.6	93.6	72.7	71.5
									Currency and deposits	17.4	18.5	38.5	9.4	15.4	9.8	18.9	14.1
Insurance technical reserves	42.6	23.5	56.7	33.6	55.2	39.4	39.8	39.8
Loans and placements	-27.2	-1.2	-68.4	-23.3	-5.7	-45.6	-21.9	-26.0

Table 3.19 shows that for all households, the largest contributor to growth in average net worth per household was residential dwelling and land at 71.5%; was the largest contributor for all household compositional groups (ranging from 43.9% to 156.0%). ITR was the second largest contributor to growth for all household groups. Loan borrowings detracted from the average growth of net worth of all households by 26.0%, and in particular households with one parent with dependent children where it detracted 68.4% from the growth of net worth per household, leaving these households with a growth in net worth per household of 197.1%, this is above the average for all households of 109.8%.

Age of reference person

Contribution of age of reference person to net worth growth

Graph 3.39A - Percentage growth of net worth, by age of reference person, 2003-04 onwards
Age of household reference person	2003-04 - 2005-06 (%)	2005-06 - 2007-08 (%)	2007-08 - 2009-10 (%)	2009-10 - 2011-12 (%)	2011-12 - 2013-14 (%)	2013-14 - 2015-16 (%)	2015-16 - 2017-18 (%)
15-24	0.2	0.0	-0.1	0.1	0.0	0.1	0.0
25-34	3.0	3.5	-4.0	-0.6	1.0	1.2	0.6
35-44	2.7	3.6	-1.2	-0.7	0.2	2.4	2.6
45-54	6.8	2.8	1.7	0.8	2.8	4.2	3.7
55-64	4.0	3.6	6.3	1.4	5.3	2.5	5.3
65+	4.7	1.5	8.5	1.8	7.3	7.8	2.2
Total households	21.5	14.9	11.1	3.0	16.6	18.3	14.4

Graph 3.39A - Percentage growth of net worth, by age of reference person, 2003-04 onwards

["Age of household reference person","2003-04 - 2005-06","2005-06 - 2007-08","2007-08 - 2009-10","2009-10 - 2011-12","2011-12 - 2013-14","2013-14 - 2015-16","2015-16 - 2017-18"]

[["15-24","25-34","35-44","45-54","55-64","65+","Total households"],[[0.20000000000000001],[3],[2.7000000000000002],[6.7999999999999998],[4],[4.7000000000000002],[21.5]],[[0],[3.5],[3.6000000000000001],[2.7999999999999998],[3.6000000000000001],[1.5],[14.9]],[[-0.10000000000000001],[-4],[-1.2],[1.7],[6.2999999999999998],[8.5],[11.1]],[[0.10000000000000001],[-0.59999999999999998],[-0.69999999999999996],[0.80000000000000004],[1.3999999999999999],[1.8],[3]],[[0],[1],[0.20000000000000001],[2.7999999999999998],[5.2999999999999998],[7.2999999999999998],[16.600000000000001]],[[0.10000000000000001],[1.2],[2.3999999999999999],[4.2000000000000002],[2.5],[7.7999999999999998],[18.300000000000001]],[[0],[0.59999999999999998],[2.6000000000000001],[3.7000000000000002],[5.2999999999999998],[2.2000000000000002],[14.4]]]

[]

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Graph 3.39B - Percentage growth of net worth, by age of reference person, 2003-04 to 2017-18
Age of household reference person	Percentage growth (%)
15-24	0.5
25-34	5.8
35-44	15
45-54	34.3
55-64	44
65+	52.4
Total households	152

Graph 3.39B - Percentage growth of net worth, by age of reference person, 2003-04 to 2017-18

["Age of household reference person","Percentage growth"]

[["15-24","25-34","35-44","45-54","55-64","65+","Total households"],[[0.5],[5.7999999999999998],[15],[34.299999999999997],[44],[52.399999999999999],[152]]]

[]

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Graph 3.39 shows that households where the reference person was over 65 years showed the largest increase (52.4%) of the 152.0% growth in net worth from 2003-04 to 2017-18, followed closely by households where the reference person is between 55-64 years, increasing 44.0% to the overall growth. The graph indicates that the older the household reference person, greater the contribution to the growth in net worth.

Electronic table 9 shows between 2003-04 and 2017-18, households where the reference person was older than 65 years were responsible for majority of the asset components that increased net worth by 152.0%; households with reference person between 55-64 years were the second largest contributor to the asset components that increased net worth. Households with reference person older than 65 contributed significantly less to loan borrowing growth when compared to households with reference person between 55-64 years, and therefore showed the greater contribution to the increase in net worth.

Household material living standards - per household by age of reference person

Graph 3.40 - Percentage growth per household, net worth by age of reference person, 2003-04 to 2017-18
Household composition	Percentage growth (%)
15-24	115.1
25-34	77
35-44	85.1
45-54	108.7
55-64	92.3
65+	107.3
Total households	109.8

Graph 3.40 - Percentage growth per household, net worth by age of reference person, 2003-04 to 2017-18

["Household composition","Percentage growth"]

[["15-24","25-34","35-44","45-54","55-64","65+","Total households"],[[115.09999999999999],[77],[85.099999999999994],[108.7],[92.299999999999997],[107.3],[109.8]]]

[]

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Graph 3.40 indicates an increase of 109.8% for the average of all households of net worth from 2003-04 to 2017-18. Most household groups grew below the average net worth for all households; however the exception was households with age of reference person 15-24 years, where the net worth per household grew at 115.1%.

Table 3.20 Contribution by major component to the growth in net worth per household, by age of reference person, 2003-04 to 2017-18, per cent

Balance sheet	15-24 years	25-34 years	35-44 years	45-54 years	55-64 years	65 years and over	All households
Net worth	115.1	77.0	85.1	108.7	92.3	107.3	109.8
Residential dwelling and land	61.3	81.1	93.6	76.5	55.2	53.6	71.5
Currency and deposits	52.9	17.6	10.8	10.8	11.6	14.8	14.1
Insurance technical reserves	62.9	36.3	32.2	34.1	40.4	38.4	39.8
Loans and placements	-66.3	-68.7	-59.5	-33.8	-17.2	-4.7	-26.0

Table 3.20 shows that for all households, the largest contributor to growth in average net worth per household was residential dwelling and land at 71.5%. It was the largest contributor for most household reference person age groups (ranging from 53.6% to 93.6%). The only exception was for households with reference person between 15-24 years were residential dwelling and land was the second largest contributor at 61.3%. The largest contributor for households with reference person between 15-24 years was ITR assets, contributing 62.9% to net worth growth per household. Loan borrowings detracted from the average growth of net worth of all households by 26.0%, and in particular households with reference person between 25-34 years where it detracted 68.7% from the growth of net worth per household.

Conclusion

The distribution by household groups of the national accounts household income, consumption and wealth estimates presented in this publication provides a bridge between the macro-economic aggregate household estimates produced within the Australian System of National Accounts (ASNA) and the ABS household economic resource surveys distributional analysis of household income, consumption and wealth. The household distributional results presented in this paper complement the aggregate estimates for household income, consumption and wealth for 2003-04 to 2017-18 published in the household sectoral accounts in the Australian System of National Accounts, 2017-18 (cat. no. 5204.0).

Due to feedback from users for more timely household distributional data, this release includes extrapolated estimates for household distributional data for income, consumption and wealth for 2017-18, approximately 5 months after the end of the reference year. A feasibility study to test the robustness of the linear extrapolation methodology ( in the November 2015 release), found the modelled estimates of the total shares of national accounts aggregates and components by household groups to be quite accurate. The study found the actual levels of distributed estimates at the aggregate level to be more accurate than the components, but overall less accurate than the shares. Overall, the ABS considers that the 2017-18 estimates will provide a timely initial assessment of the financial health of household groups.

The distributional results for 2017-18 show income inequalities (calculated as ratios of the shares of the highest to lowest quintile) across households classified according to income and net worth quintiles for income components such as compensation of employees, property income and superannuation benefits received. However, the results show a reversal of the inequality when the impact of the distributional policies of government through transfer payments in cash and in kind (i.e. social assistance benefits and health social transfers in kind), and income tax are analysed on the income quintiles, this impact is illustrated to a lesser extent on the net worth quintiles. The value of the ratios for total gross disposable income and household final consumption, indicate income inequalities are higher than consumption inequalities, with further evidence provided by the inequality across households income quintiles for gross saving. Inequalities in wealth are illustrated by income and net worth quintile distribution of ownership of residential dwelling and land and superannuation and insurance reserves, with the net worth quintiles indicating these inequalities more markedly.

The ABS are among only a few national statistical offices (NSOs) that have produced time series of the household distributional data set. The distributional analysis of the time series in this release may be employed to address policy questions not otherwise possible with aggregate time series estimates of the household sector from the ASNA. The questions that can be answered may be broadly categorised to those related to a household group's (i) contribution to growth in income (consumption, net saving and net worth) and (ii) material living standards, such questions as:

which household group benefitted from the increase in gross disposable income, and its components such as interest and dividend receivable during the period 2003-04 to 2017-18;
what was the saving behaviour of household groups before, during and after the global financial crisis (GFC);
which household groups are investing in superannuation (insurance technical reserves), and over time which household groups are benefitting from growth in superannuation technical reserves;
for a household group, what is the contribution of social transfer kind in education to the overall growth in actual individual consumption per household;
for household groups, what is the contribution of residential dwelling and land to growth overtime in net worth per household; and
what is the impact on gross disposable income per household for household groups with a change in taxation policy.

Data downloads

Table 1 Household (excluding non-profit institutions serving households) income, consumption and wealth, by household distributional indicator, $millions, current prices

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Table 2 Household (excluding non-profit institutions serving households) income, consumption and wealth, share of total household, by household distributional indicator, per cent

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Table 3 Household (excluding non-profit institutions serving households) income, consumption and wealth, per household, by household distributional indicator, $, current prices

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Table 4 Household (excluding non-profit institutions serving households) income, consumption and wealth, ratio of the average of all households, by household distributional indicator

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Table 5 Change of household (excluding non-profit institutions serving households) gross disposable income, contribution of income items, per household, by household distributional indicator, per cent

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Table 6 Change of household (excluding non-profit institutions serving households) final consumption expenditure, contribution of consumption items, per household, by household distributional indicator, per cent

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Table 7 Change of household (excluding non-profit institutions serving households) actual individual consumption, contribution of consumption items and social transfers in kind, per household, by household distributional indicator, per cent

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Table 8 Change of household (excluding non-profit institutions serving households) net worth, contribution of wealth items, per household, by household distributional indicator, per cent

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Table 9 Household (excluding non-profit institutions serving households) income, consumption and wealth, contribution to growth, by household distributional indicator, per cent

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Table 10 Household (excluding non-profit institutions serving households) income, consumption and wealth, growth per household, by household distributional indicator, per cent

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Table 11 Impact of redistribution measures by government and non-profit institutions serving households, by household distributional indicator

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All data cubes

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History of changes

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Previous catalogue number

This release previously used catalogue number 5204.0.55.011

APA

Australian National Accounts: Distribution of Household Income, Consumption and Wealth

APA

Introduction

International and domestic drivers

Results

Analysis and comments - income and wealth quintiles, 2017-18

Income

Table 2.1 ASNA total household income (excluding NPISH), 2017-18

Compensation of employees

Gross mixed income

Gross operating surplus - dwellings owned by persons

Property income receivable

Social assistance benefits

Interest payable

Income tax payable

Social transfers in kind

Superannuation benefits received (memorandum item)

Disposable income

Impact of the redistribution by government and non-profit institution serving household (NPISH)

Table 2.2 ASNA total household gross disposable income, impact of government and NPISH redistribution - 2017-18

Consumption and saving

Table 2.3 ASNA household income and consumption (excluding NPISH) - 2017-18

Consumption

Gross saving

Wealth

Table 2.4 ASNA total household wealth (excluding NPISH) - 2017-18

Dwellings and residential land

Financial assets - currency and deposits, shares and other equity, and superannuation and insurance reserves

Liabilities - loans

Net worth

Time series analysis

Income

Equivalised income quintiles

Contribution of income quintiles to income growth

Household material living standards - per household by income quintile

Table 3.1 Contribution by major component to the growth in gross disposable income per household, by equivalised household income quintiles, 2003-04 to 2017-18, per cent

Equivalised household net worth quintiles

Contribution of net worth quintiles to income growth

Household material living standards - per household by net worth quintile

Table 3.2 Contribution by major component to the growth in gross disposable income per household, by equivalised household net worth quintiles, 2003-04 to 2017-18, per cent

Main source of income

Contribution of main source of income to income growth

Household material living standards - per household by main source of income

Table 3.3 Contribution by major component to the growth in gross disposable income per household, by MSI, 2003-04 to 2017-18, per cent

Household composition

Contribution of household composition to income growth

Household material living standards - per household by household composition

Table 3.4 Contribution by major component to the growth in gross disposable income per household, by household composition, 2003-04 to 2017-18, per cent

Age of reference person

Contribution of age of reference person to income growth

Household material living standards - per household by age of reference person

Table 3.5 Contribution by major component to the growth in gross disposable income per household, by age of reference person, 2003-04 to 2017-18, per cent

Impact of redistribution measures by government and non profit institutions serving households

Equivalised income quintiles

Table 3.6 Impact of redistribution measures by government and NPISH, equivalised household income quintiles, ratio to average of all household

Equivalised net worth quintiles

Table 3.7 Impact of redistribution measures by government and NPISH, equivalised household net worth quintiles, ratio to average of all household

Main source of income

Table 3.8 Impact of redistribution measures by government and NPISH, main source of income, ratio to average of all household

Household composition

Table 3.9 - Impact of redistribution measures by government and NPISH, household composition, ratio to average of all household

Age of reference person

Table 3.10 Impact of redistribution measures by government and NPISH, age of reference person, ratio to average of all household

Consumption

Equivalised income quintiles

Contribution of income quintiles to consumption growth

Household material living standards - per household by income quintile

Table 3.11 Contribution by major component to the growth in actual individual consumption per household, by equivalised household income quintile, 2003-04 to 2017-18, per cent

Equivalised net worth quintiles

Contribution of net worth quintiles to consumption growth

Household material living standards - per household by net worth quintile

Table 3.12 Contribution by major component to the growth in actual individual consumption per household, by equivalised household net worth quintiles, 2003-04 to 2017-18, per cent

Main source of income

Contribution of main source of income to consumption growth

Household material living standards - per household by main source of income

Table 3.13 - Contribution by major component to the growth in actual individual consumption per household, by main source of income, 2003-04 to 2017-18, per cent

Household composition

Contribution of household composition to consumption growth

Household material living standards - per household by household composition