Australian Culture and Economy

Australia is the sixth largest country in the world, while also being relatively isolated from the rest of the world (sometimes called the “island continent”). Although there are more than 200 spoken languages amongst its population, English is the most spoken language, followed by Mandarin. Having been a former colony, British culture dominates the country despite multi-ethnic migration to its shores.

The Australian economy had a GDP of A$1.69 trillion in 2017, making it the second-wealthiest country in per capita terms, after Switzerland. Its economy has faced some challenges, but the country emerged from the 2009 recession with minimal damage. Having such a strong economy has come with its own challenges, the primary being a fiscal deficit caused by the government prior to 2009 which has affected the effectiveness of subsequent governments. Despite this, Australia is highly competitive in technology, service delivery, manufacturing, and innovation and science services. The political stability, robust legal system, and bureaucracy in the country has also greatly enhanced transparency in civic life.

2021
April 2Good Friday
April 5Easter Monday
April 25ANZAC Day
December 25Christmas Day
December 26Boxing Day
  • LLP (Limited liability partnership)
  • Inc. (Incorporated)
  • Ltd. (Limited)
  • NL (No liability)
  • Pty. Ltd. (Proprietary Limited Company)
  • Pty. (Unlimited Proprietary)
  • Corporate Tax: 28.5% (reduced rate), 30% (standard rate)
  • Income Tax (Lowest Marginal Rate): 0%
  • Income Tax (Highest Marginal Rate): 45%
  • VAT/GST/Sales Tax: 10% (standard rate), 0% (essential items)
  • AMP Bank Limited (Local Bank)
  • Australian Military Bank (Local Bank)
  • Police Bank (Local Bank)
  • Greater Bank (Local Bank)
  • Heritage Bank (Local Bank)
  • Hume Bank (Local Bank)
  • Qudos Bank (Local Bank)
  • Auswide Bank (Commercial Bank)
  • Bank SA (Commercial Bank)
  • National Australia Bank (Commercial Bank)
  • Bank Australia (previously bankmecu) (State Bank)
  • Bank of Melbourne (State Bank)
  • IMB Bank (State Bank)
  • Macquarie Bank Limited (State Bank)
  • MyState Bank (State Bank)
  • P&N Bank (State Bank)
  • Australia and New Zealand Banking Group Limited (ANZ) (Foreign Bank)
  • Commonwealth Bank of Australia (Foreign Bank)
  • Arab Bank Australia Limited (Foreign Bank)
  • Bank of China (Australia) Limited (Foreign Bank)
  • Bank of Sydney Ltd, subsidiary of Bank of Beirut (Foreign Bank)
  • Citibank Australia (Foreign Bank)
  • HSBC Bank Australia (Foreign Bank)
  • ING Bank (Australia) a subsidiary of ING Group, Netherlands (Foreign Bank)
  • ABN AMRO Bank N.V. (Foreign Bank)
  • Bank of America, National Association (Foreign Bank)

Aadmi can support you with your expansion to Australia. Our team of experts in country manage every aspect of your expansion from incorporation, accounting, legal, and even administrative concerns.  Matched with Global People Strategist’s powerful labor compliance software, your company is in good hands.

Contact us today for more information about how your company can benefit from using Aadmi as your global expansion partner.

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