Australia at a glance – April 2021

These emails are designed for those investing into Australia and those who have plans to do so. We aim to keep the points short and sweet, and to merely list snippets of relevant but easy to read information.

April 2021

  1. An Australian private company only needs one shareholder.
  2. Australia has 25,760 km (16,000 miles) of coastline and no land boundaries. All other countries are thus ‘overseas’.
  3. Australian states levy ‘payroll tax’ – a tax on an employer once the total salaries reach a certain level.
  4. The most popular spread in Australia is known as ‘Vegemite’, which was invented by a chemist named Dr Cyril P. Callister. It has a salty, slightly bitter, malty taste.
  5. By geographic size, Australia ranks behind Russia, the United States, Canada, Brazil and China as the 6th largest country.
  6. If a foreign company carries on business ‘in’ Australia, it must register with ASIC.
  7. Donations in Australia of $2 or more are deductible for income purposes in Australia, provided the donation was made to a Deductible Gift Recipient (DGR).
  8. The world’s first mandatory seat belt laws were introduced in Victoria, Australia in the year 1970.
  9. Former Prime Minister of Australia, Bob Hawke, is known to have once held the world speed record for beer drinking.
  10. The Australian government has a ‘paid parental leave’ scheme which provides financial support for new parents, which can be provided for up to 18 weeks.

This message is not given in the form of an opinion, legal opinion or tax advice. If any of the information provided is of interest or relevance to you or your company we would strongly recommend you contact us or another qualified professional for specific advice. 

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