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.
- The Australian Labor Party controls not only the Federal Government but is also in power in all six states other than Tasmania.
- The superannuation contributions will increase from 10.5% to 11% of salary from 01 July 2023.
- All overseas employers of employees working in Australia need to register for and administer PAYG, and are responsible for superannuation and workers compensation insurance.
- Where there are overseas associates (directors or shareholders) an ABN can take two months or more to obtain.
- An ABN is needed for many reasons. It is also necessary in order to register for PAYG.
- Merely having substantial equipment in Australia that is rented out can result in there being a taxable permanent establishment in Australia.
- GST on import can be deferred but customs duties cannot be deferred.
- The Australian company tax rate is 30%, but is 25% for smaller companies.
- A non-resident employee is taxed in Australia from day 1 if working for or deemed to be working for an Australian employer in Australia – even if their employment agreement is only with an overseas employer.
- Residents who are holders of short term visas are generally not taxable on their overseas income other than overseas salary income.
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.