SCI - SMART CHOOSING INVESTOR
AUSTRALIAN TRADE & TAX LAW
Introduce:
Among the top 10 countries creating favorable conditions for business enterprises, the fourth in the list of high population countries with developed economies, Australia has diverse human resources with high quality skill. Therefore, its advantages in business are higher than other countries. Besides, Australia is also more advantageous than other countries in the region because of clear and formal business protection laws. This contributes to motivating investors to choose Australia as a destination for their investment.
Tax system in Australia:
Australia is one of the countries with significant tax preferential policies such as:
- Tax preferences for scientific and technological research and development projects.
- Reducing the cost of capital for petroleum and mineral mining industries.
- Tax preferences for small and medium enterprises.
If investing in Australia, investors will have the opportunity to enjoy tax policies and some service policies. In some provinces, when becoming a permanent resident, you will be free of the tax of buying houses and small value real estates, you are also no limited to the right to purchase residential real estate. Besides, you will enjoy better credit, more incentives for personal loans, loans for buying house or car, etc.
Receiving many incentives from the government on the tax system, Australia has become one of the fascinating business environments attracting many business investors to establish companies here.
In general, Australia taxed revenues on the three income sources of personal taxpayers' as follows: personal income (eg: the salary), business income and income from selling assets. The income received by individuals will be taxed at gradually increasing rate. The income of companies that are taxed at a fixed price is 30%. Non-residents are usually only taxed on income originating in Australia. Most businesses are required to pay quarterly throughout the year based on estimated tax obligations.
Australian trade law:
The strict legal system helps Australia manage businesses easily, creating a healthy business environment:
- Strict in protection of patent, copyright and trademark.
- Competition law ensures that companies do not apply unfair business forms to competitors within Australia.
CONTACT SCI - SMART CHOOSING INVESTOR
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