The tax revenue Australia would generate each year is $96,054,697,991.
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What is the percentage?</h3>
The percentage is the value per hundred.
Working population of Australia = 11,565,470 people
Annual average salary = $26,450
Income tax rate = 31.4%
Tax revenue generated by each resident = 26450*(31.4/100)
Tax revenue generated by each resident =$8305.3
So, Tax revenue generated by 11,565,470 residents = 11,565,470*8305.3
Tax revenue generated by 11,565,470 residents = $96,054,697,991
Therefore, the tax revenue Australia would generate each year is $96,054,697,991.
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