Australia at a glance – December 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.

December 2021

  1. Australian tax residents can ‘discount’ any capital gains (taxable profits) made on the disposal of certain investments by 50%, subject to satisfying criteria such as a minimum holding period.
  2. Melbourne, the capital of Victoria, has the largest public tram system in the world.
  3. Certain Australian businesses will have access to ‘temporary full expensing’ measures through to 30 June 2022, allowing them to deduct the cost of fixed assets in full against their taxable income.
  4. Australia has a larger population of camels than Egypt.
  5. A foreign employer needs to register in Australia if it has an employee performing ‘work’ here.
  6. Between 1838 and 1902, swimming at public beaches in Sydney (and other parts of New South Wales) was illegal during daylight, for reasons of ‘morality’.
  7. The Australian Emu (a large, flightless bird) can run as fast as 45km/h (28mph).
  8. For business purposes, it is best to visit Australia from March to November, as the tourist season occurs from December to February.
  9. Wireless technology (i.e. Wi-Fi) used all around the world is an Australian invention.
  10. Foreign-owned Australian companies are subject to more strict rules than locally-owned companies regarding the requirements to be audited and to file annual financial statements on a public register – however, on application, some foreign-owned companies may be treated the same as locally-owned companies.

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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