2017年-德勤中国_亚太地区国别投资指南_40页_669kb

报告摘要

Summary of Deloitte. Taxation and Investment in Australia 2018

1.0 Investment Climate

Australia is an independent country within the Commonwealth of Nations, comprising six states and two territories. It has a federal, state, and local government structure, with the federal government handling income taxation, corporate regulation, and foreign affairs. The country is a member of several international organizations, including the OECD, WTO, APEC, and G20.

1.1 Business Environment

Australia has a federal parliamentary system with a prime minister as head of government.
The federal government regulates corporate and financial matters, while states and territories may impose taxes on certain goods and services.
The business environment is competitive, with a focus on the eastern seaboard for economic activity.
The services sector is a major contributor to GDP.

1.2 Currency

The official currency is the Australian Dollar (AUD).

1.3 Banking and Financing

Australia has a competitive banking system with various financial intermediaries.
Major capital providers include banks, insurance companies, and superannuation funds.
Banks offer a range of services including deposit-taking, lending, and international transactions.

1.4 Foreign Investment

The federal government encourages foreign investment that aligns with community interests.
The Foreign Acquisitions and Takeovers Act 1975 (FATA) and its regulations govern foreign investment.
Certain investments require prior approval, such as those over AUD 252 million or in restricted industries like banking and telecommunications.
Foreign persons are defined broadly, including non-residents, foreign-controlled entities, and trusts with foreign interests.
Substantial interest is defined as 15% or more ownership by a foreign person, or 40% or more collectively.

1.5 Tax Incentives

R&D Tax Incentive: Qualifying R&D expenditures are not deductible, but companies receive tax offsets. Small companies (turnover < AUD 20M) get a 43.5% refundable offset, while larger companies get a 38.5% non-refundable offset.
Early Stage Innovation Company (ESIC) Tax Incentives: Investors can receive a 20% non-refundable carryforward tax offset and concessional CGT treatment for shares in ESICs.
IMR Concession: Non-residents are exempt from Australian income tax on gains from investments, but not on dividends or interest.
Other incentives include film tax incentives and state-level financial assistance.

1.6 Exchange Controls

Australia does not have exchange controls, but the government monitors currency movements through reporting requirements.
The Financial Transaction Reports Act 1988 requires reporting of cash movements of AUD 10,000 or more and electronic transfers.
The Australian Transaction Reports and Analysis Centre (Austrac) assists in tracking and preventing money laundering.
Tax authorities may treat income from subsidiaries in tax havens as attributable to Australian parents.

2.0 Setting Up a Business

2.1 Principal Forms of Business Entity

Common forms include limited liability companies, sole proprietorships, partnerships, trusts, joint ventures, and foreign branches.
Private companies (Pty Ltd) and public companies (Ltd) are the main types under the Corporations Act 2001.
Corporate Limited Partnerships (CLPs) are treated as companies for tax purposes.

2.2 Regulation of Business

Mergers and acquisitions are subject to Competition and Consumer Act 2010 to prevent anti-competitive behavior.
The Australian Competition and Consumer Commission (ACCC) may authorize mergers if they bring public benefits.

2.3 Accounting, Filing and Auditing Requirements

Companies must report to ASIC on shareholders, directors, and financial status.
Public and private company classifications may differ for tax purposes.
Public companies must meet criteria related to share trading and control.
Partnerships are taxed as flow-through entities, with each partner liable for their share of income.
Trusts are treated as flow-through entities, with beneficiaries liable for tax. Some trusts (MITs and AMITs) may receive tax concessions.
Branches of foreign companies are taxed similarly to Australian subsidiaries and must register with ASIC.

3.0 Business Taxation

3.1 Overview

Taxation is governed by federal and state laws, with no income tax at the state level.
Businesses are subject to various taxes, including income tax, capital gains tax, and withholding taxes.

3.2 Residence

Tax residence is determined by the place of incorporation, central management and control, and shareholder control.

3.3 Taxable Income and Rates

Taxable income is based on the business's profit, with a standard tax rate of 30% for most entities.

3.4 Capital Gains Tax

Capital gains are generally taxed at the same rate as income tax, with concessions for certain entities and investments.

3.5 Double Taxation Relief

Relief is available through tax treaties and mechanisms like the IMR concession.

3.6 Anti-Avoidance Rules

These rules aim to prevent tax avoidance and ensure fair taxation of business activities.

3.7 Administration

Tax administration is handled by the Australian Taxation Office (ATO), with compliance requirements for reporting and record-keeping.

3.8 Other Taxes on Business

Includes goods and services tax (GST), stamp duty, customs and excise duties, and environmental taxes.

4.0 Withholding Taxes

Withholding taxes apply to various types of income, including dividends, interest, royalties, branch remittance tax, and wage tax/social security contributions.
Distributions from MITs and AMITs may be subject to specific withholding tax rates.

5.0 Indirect Taxes

Includes GST, capital tax, real estate tax, transfer tax, stamp duty, customs and excise duties, and environmental taxes.
GST is levied on most goods and services, with some exemptions.

6.0 Taxes on Individuals

Individuals are taxed based on residence, taxable income, and marginal tax rates.
Includes inheritance and gift tax, net wealth tax, real property tax, and social security contributions.
Compliance with tax obligations is required, with penalties for non-compliance.

7.0 Labor Environment

Employee rights and remuneration are protected under various laws.
Wages and benefits are regulated, with specific rules for termination of employment and employment of foreigners.