Are you an investor or buyer considering Australia to invest, expand or start your business venture? Austrade can help you navigate the Australian business environment and kick start your Australian venture.
We can connect you to opportunities in Australia, provide local market intelligence and introduce you to relevant authorities for detailed tax, visa, and foreign investment advice.
This guide can help international investors and businesses explore opportunities to investing and operating in Australia.
Australian business culture is open and friendly. We are honest and fair, with a clear and direct communication style. We have few formalities and are not overly hierarchical. We may have a laid-back reputation, but we are hard-working people. Our government strongly supports business and industry.
Australia has the 11th most competitive taxes in the world, according to the Tax Foundation’s International Tax Competitiveness Index 2022. Our tax revenue represents 29% of our gross domestic product, compared to 34% across OECD countries (Organisation for Economic Co-operation and Development, 2023).
And we offer a range of deductions and incentives that lower effective tax rates. These include:
Australia provides generous incentives to encourage valuable R&D activities. Australia’s R&D Tax Incentive delivers almost A$3 billion a year to eligible companies.
For eligible R&D conducted from 1 July 2021, the tax offset is equal to your corporate tax rate plus an additional premium rate of up to 18.5%. For all claims, the R&D expenditure threshold is A$150 million per annum.
Eligible businesses can access additional tax concessions, offsets and rebates, potentially lowering effective rates further.
The Australian Government provides a searchable database of grants, funding and support programs for business in Australia.
Australia’s lifestyle and vibrant cities are global drawcards. We have 4 of the top 15 most livable cities in the world according to the EIU Global Liveability Index for 2023. They are safe, beautiful and well-managed.
They are also affordable. Australia’s capitals have a lower cost of living than neighbouring global cities including Hong Kong, Singapore, Tokyo, Seoul, Shanghai, Beijing, Shenzhen and Guangzhou (Mercer, Cost of Living City Ranking 2023). This makes Australia a cost-competitive destination for international companies that want to relocate employees and their families.