Australia

At a glance

 

Corporate Income Tax Rate 30%
Tax rate applied on capital gains 30%
Tax rate applied on branch profits 30%
   
Other taxes (e.g. local or state tax) levied on corporate profits? N.A.
   
Withholding taxes (standard rates) Subject to further reduction by DTA
on dividends 15%
on branch profit remittance 30%
on interest 10%
on royalties 30%
   
Loss carry back period N.A.
Loss carry forward period Indefinite

Introduction

Australia, officially the Commonwealth of Australia, is a highly developed country in the Southern Hemisphere comprising the mainland of the Australian continent (the world's smallest), the island of Tasmania and numerous smaller islands in the Indian and Pacific Oceans. Neighbouring countries include Indonesia, East Timor and Papua New Guinea to the north, the Solomon Islands, Vanuatu and New Caledonia to the northeast and New Zealand to the southeast. On 1 January 1901, the six colonies became a federation and the Commonwealth of Australia was formed. Since Federation, Australia has maintained a stable liberal democratic political system and is a Commonwealth realm. The population is 22 million, with approximately 60% concentrated in and around the mainland state capitals of Sydney, Melbourne, Brisbane, Perth and Adelaide. The nation's capital city is Canberra, in the Australian Capital Territory. A prosperous developed country, Australia is the world's thirteenth largest economy. Australia ranks highly in many international comparisons of national performance such as human development, quality of life, health care, life expectancy, public education, economic freedom and the protection of civil liberties and political rights. Australia is a member of the United Nations, G20, Commonwealth of Nations, ANZUS, OECD, APEC, Pacific Islands Forum and the World Trade Organization. (Source: Wikipedia)

Publications

CTA Members in Australia

Philip Price Philip Price
Telephone: +61 (2) 92338933 E-Mail: philip.price@corptax.org

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