Nurses, teachers, office workers, sales assistants, and CEOs are among the millions of Australians earning income from ASX dividend shares, according to the ATO's recently released tax data for FY22.
We examined the data closely to learn more about who is buying ASX dividend shares. The data shows that Aussie dividend investors include workers earning the lowest incomes in the country.
This is a testament to the accessibility and affordability of shares investing for people of all ages and financial means.
Here are our findings.
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Sales assistants through to CEOs are buying ASX shares
The data showed about 2.75 million taxpayers reported franked dividend income in their tax returns.
The average franked dividend income per person totalled $12,178, up from $8,509 in FY21. The median was $549 per person, up from $343 in FY21.
The data was broken down into occupational and taxable income groups. This allowed us to learn more about ASX dividend shares investors.
We discovered that female registered nurses earning a taxable income of $45,000 to $120,000 are among the most prolific investors in ASX dividend shares, with 23,200 declaring franked dividend income in FY22.
About 22,600 female administration assistants or office workers, along with 20,800 female office administrators or managers, and about 18,000 female bank tellers in the same taxable income range also reported franked dividend income.
The next biggest cohort was 17,000 male CEOs or managing directors earning $180,000 or more. A further 16,300 male CEOs earning $45,000 to $120,000 also declared franked dividend income.
About 16,200 female sales assistants earning $18,200 to $45,000 declared franked dividend income.
A further 16,200 female accountants and 14,500 female infant or primary school teachers, both of which had taxable incomes of $45,000 to $120,000, reported franked dividend income to the ATO in FY22.
What about unfranked dividend income?
Unfranked dividend income can come from international shares or ASX companies that earn income overseas.
About 1.19 million taxpayers reported unfranked dividend income in FY22. The average income was $1,309 per person, up from $1,109 in FY21. The median was $166, up from $89.
The biggest cohorts of workers declaring unfranked dividend income all earned between $45,000 to $120,000 in taxable income.
Once again, registered female nurses were at the top, with 10,270 declaring unfranked dividend income.
About 8,800 administration assistants or office workers, 7,700 office administrators or managers, 7,000 female accountants, 6,300 male accountants, and 6,100 female infant or primary school teachers did the same.
Some high-earning cohorts were among the next biggest groups.
The data shows about 6,100 male CEOs and almost 6,000 male general managers, all earning more than $180,000 in taxable income per year, declared unfranked dividend income in FY22.
Brokers say buy these ASX dividend shares
Here at The Fool, we regularly cover which ASX dividend shares attract new buy recommendations from the brokers.
Here are a few examples of ASX dividend shares that the experts are recommending we buy today.
Goldman Sachs has a buy rating on QBE Insurance Group Ltd (ASX: QBE). The broker expects QBE shares to pay a dividend of 63 US cents (96.9 Australian cents) in FY25. Based on the QBE share price of $17.35 at Friday's close, this equates to a dividend yield of 5.6%.
Morgans has a buy rating on Eagers Automotive Ltd (ASX: APE). The broker expects a fully franked dividend of 74 cents per share in FY25. Based on Friday's closing share price of $10.55, this is a 7% yield.
Goldman also likes Rio Tinto Ltd (ASX: RIO) and is tipping fully franked dividends of US$4.45 (A$6.84) per share in FY25. Based on Rio's closing share price of $118.75, this equates to a dividend yield of 5.56%.
Morgans also recommends Woodside Energy Group Ltd (ASX: WDS) shares. It predicts a fully franked dividend of $1.57 per share in FY25. Based on the current share price of $27.48, that's a 7.8% yield.
