Tax benefits
Stable and business focused
Australia offers one of the world’s most stable political environments, with the lowest risk of political instability in the Asia-Pacific, and the second lowest in the world. All levels of government in Australia are pro-business. Strong policies of flexible corporate and financial structures for foreign investment are reflected in Brisbane’s open and supportive business environment.
Australia’s lowest taxes
According to the Organisation for Economic Cooperation and Development (OECD), Australia is the ninth lowest taxing country of its 30 members, while Queensland stands out as the state with the lowest taxes and charges in Australia. The influential IMD 2011 World Competitiveness Yearbook ranks Australia ninth in terms of overall competitiveness.
Payroll tax
Queensland’s payroll tax rate of 4.75 per cent is the lowest in Australia. The threshold for Queensland’s payroll tax is the highest in Australia, ensuring the lowest payroll tax rate in the country.
Corporate tax
The Australian corporate tax rate is the sixth lowest in the OECD – ahead of France, India, Japan and the United States of America. Personal income tax is the third lowest.
Goods and services tax
The goods and services tax (GST) is a broad-based ten per cent tax included in the shelf prices of most Australian goods and services. This is the lowest consumption tax in the OECD.
R&D Tax Incentive
The R&D Tax Incentive is a two-tiered Federal Government initiative that will provide 45 per cent refundable R&D tax offset for eligible companies with a group turnover less than $20 million (AUD) and a 40 per cent non-refundable R&D tax offset for all other eligible companies. This incentive is open to Australian corporations, corporations that are Australian residents for tax purposes, foreign corporations that carry on R&D activities though a permanent establishment in Australia and corporations acting as trustee of a public trading trust.
