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Nick McInnes, Director General 
UKTI Australia & New Zealand 
A presentation on Australian Business Opportunities for the ...
Agenda 
Nick McInnes, Overview of the Australian market 
Taxation considerations, Joelle Tabone, Partner, HLB Mann Judd 
L...
Why Australia? 
• You’ll feel at home immediately 
• Over 1,000 UK companies and more Brits than in any other country 
out...
A comparison with Australia 
Australia UK 
Population 23.3 million 64.1 million 
Global GDP ranking 12th (IMF 2013) 6th 
G...
Australia: it’s bigger than you think
UK Exports to Australia
_
Opportunities in the Australian Market 
Significant opportunities for UK companies in the following industries; 
• Automot...
Australian Aerospace Industry 
• A$4bn industry 
• Boeing manufacturing 787 
components 
• BAE servicing RAAF 
• Australia...
Australian Automotive Industry 
•Large market A$170bn 
•Local car manufacturing 
ceasing in 2017 
•Imports of new cars 
ri...
Transport: Major Road Projects 
Major Road Projects 
West Connex, NSW 
East West Link, Victoria 
Bruce Highway, Queensland...
Rail Projects 
State Project Estimated value 
Queensland Bus and Train (BAT) Tunnel AU$5 billion 
Melbourne Melbourne Rail...
Rail Sector Opportunities 
•Advisory Opportunities 
•Technical Standard Harmonisation 
•Telecommunications 
•Signalling 
•...
How UKTI can help? 
•Passport to Export 
•Gateway to Global Growth 
•Export Market Research Scheme 
•Overseas Market Infor...
Doing business in Australia 
- Taxation Requirements 
Presented by 
Joelle Tabone 
Partner, 
Business Services 
jtabone@hl...
Disclaimer 
The content of this presentation is of a general nature only and 
should not be used or treated as professiona...
Overview of Taxation System 
 Tax is imposed by both the Federal and State 
governments 
 Standard financial year end is...
Taxation Requirements 
Corporate Entities 
Company tax rate of 30% 
Employer taxes: Payroll tax, Superannuation, 
WorkCo...
Taxation Requirements 
Individuals 
Australian tax residents assessed on 
worldwide ordinary income 
Non residents asses...
Taxation Requirements 
Taxable Income Tax on this income 
0 - $18,200 Nil 
$18,201 - $37,000 19c for each $1 over $18,200 ...
Other Tax Considerations 
 Goods and Services Tax rate of 10% 
(rebatable) 
 Thin capitalisation 
 Transfer pricing
DOING BUSINESS IN AUSTRALIA 
WEST MIDLANDS WEBINAR 
30 SEPTEMBER 2014 
Stephen Dobbs, Partner, +61 9225 5511, stephen.dobb...
INTRODUCTION 
• Common law legal system – based on English law 
• Multiple jurisdictions 
– Federal (‘Commonwealth’) 
– St...
25 
BUSINESS STRUCTURES 
• Essentially as per UK 
– sole traders 
– partnerships 
– private companies 
– public companies ...
IS A LOCAL ENTITY REQUIRED? 
• An overseas corporation is required to register in Australia if it ‘carries 
on business in...
FOREIGN ACQUISITIONS OF AUSTRALIAN BUSINESSES 
• Statutory foreign investment regime overlaid by published government 
for...
EMPLOYING STAFF IN AUSTRALIA 
• Federal legislation – Fair Work Act 
– minimum employee entitlements (re leave etc) 
– ind...
29 
TRADING 
• Law of contract broadly as per English law. However considerable 
statutory overlay 
– Prohibition on ‘misl...
PRODUCT LIABILITY 
• Strict liability for manufacturers of defective goods that cause injury, 
loss or damage – regime bas...
The contents of this publication, current at the date of publication set out in this document, are for reference purposes ...
Doing Business in 
Australia
Unipart Rail Journey 
• Invested time and effort in Specific desk 
top research 
• Number of key visits 
• Opened Unipart ...
Market Research & Intelligence 
• Do as mush research as possible 
• Best option “go and see” 
• Understand your market 
•...
Resourcing 
Costs 
•Local v Ex pat 
Cost of living 
Business costs – 457 Visa, travel, FBT 
Do your research 
Workforce...
Rail Opportunities 
•Major Infrastructure projects 
 NWRL 
 Melbourne Link 
Train Build Projects 
 QR NGR 
 NSW Inter...
Next Steps 
• Strategy agreed 
• Understand opportunities and threats 
• Understand “the onion” 
• AusRail 2014 – meeting ...
UKTI Australia - Business overview of Australia including tax and legal considerations and a UK success story
UKTI Australia - Business overview of Australia including tax and legal considerations and a UK success story
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UKTI Australia - Business overview of Australia including tax and legal considerations and a UK success story

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A presentation from UK Trade & Investment Australia, giving an overview of doing business in Australia for British companies. Also including tax and legal implications as well as Unipart Rail shares their story of doing business down under.

Veröffentlicht in: Business
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UKTI Australia - Business overview of Australia including tax and legal considerations and a UK success story

  1. 1. Nick McInnes, Director General UKTI Australia & New Zealand A presentation on Australian Business Opportunities for the World Trade Fair in the Black Country
  2. 2. Agenda Nick McInnes, Overview of the Australian market Taxation considerations, Joelle Tabone, Partner, HLB Mann Judd Legal considerations, Stephen Dobbs, Partner, Herbert Smith Freehills Unipart Rail experience, Steven Scriven, Sales Director, Unipart Rail
  3. 3. Why Australia? • You’ll feel at home immediately • Over 1,000 UK companies and more Brits than in any other country outside the UK • Very similar business, legal and regulatory culture • Strong economy, with good growth prospects • Exchange rates make UK goods and services attractive • Good trading links with fast growing Asia-Pacific nations
  4. 4. A comparison with Australia Australia UK Population 23.3 million 64.1 million Global GDP ranking 12th (IMF 2013) 6th GDP growth est. 2014 2.6% 2.9% GDP per capita ($US US$61,137 $43,803 2014) Ease of doing business (World Bank 2013) 11th 10th Unemployment (July 2014) 6.4% (ABS) 6.4% Land mass – sq kms 7 692 000 242 000
  5. 5. Australia: it’s bigger than you think
  6. 6. UK Exports to Australia
  7. 7. _
  8. 8. Opportunities in the Australian Market Significant opportunities for UK companies in the following industries; • Automotive • Defence • Oil and gas • Construction services • Life sciences • Transport infrastructure • ICT • Education • Financial and business services
  9. 9. Australian Aerospace Industry • A$4bn industry • Boeing manufacturing 787 components • BAE servicing RAAF • Australian Aerospace Ltd manufacturing helicopters
  10. 10. Australian Automotive Industry •Large market A$170bn •Local car manufacturing ceasing in 2017 •Imports of new cars rising •UK exports £800m+ •Online automotive parts sales A$380m and growing 7.5%
  11. 11. Transport: Major Road Projects Major Road Projects West Connex, NSW East West Link, Victoria Bruce Highway, Queensland Opportunities Construction Design, Project Management Engineering, Project Finance & PPP Drainage, CCTV, Road safety management and providers of building equipment, materials, and supplies.
  12. 12. Rail Projects State Project Estimated value Queensland Bus and Train (BAT) Tunnel AU$5 billion Melbourne Melbourne Rail Link Up to AU$11 billion Western Australia Perth Airport Rail Link AU$2.2 billion New South Wales North West Rail Link Sydney Light Rail AU$7.5 billion AU$2 billion ACT Capital Metro Light Rail AU$2.1 billion
  13. 13. Rail Sector Opportunities •Advisory Opportunities •Technical Standard Harmonisation •Telecommunications •Signalling •Financing and PPP’s •Maintenance and upgrading of existing track •Electrification •Digital Railway
  14. 14. How UKTI can help? •Passport to Export •Gateway to Global Growth •Export Market Research Scheme •Overseas Market Information Service •Trade show Access Programme •Trade Missions For further information, please contact: Nick.McInnes@fco.gov.uk
  15. 15. Doing business in Australia - Taxation Requirements Presented by Joelle Tabone Partner, Business Services jtabone@hlbvic.com.au
  16. 16. Disclaimer The content of this presentation is of a general nature only and should not be used or treated as professional advice. This presentation does not take into account your particular objectives, situation or needs. As a result, it may not be appropriate to your particular circumstances, and should not be relied upon. You should rely on your own enquiries, together with professional advice that takes into account your particular circumstances, in making any decisions concerning your own interests.
  17. 17. Overview of Taxation System  Tax is imposed by both the Federal and State governments  Standard financial year end is 30 June  Australian resident company or branch?  Australian resident Public Officer/Director  Lodgement of annual Income Tax Return and Financial Statements (consider audit exemptions)
  18. 18. Taxation Requirements Corporate Entities Company tax rate of 30% Employer taxes: Payroll tax, Superannuation, WorkCover, Fringe benefits tax Withholding taxes on payments to overseas entities Payment What rate (UK/Australia) Interest 10% gross amount of interest paid Non-franked dividends 15% gross dividend paid Royalties 5% gross royalty
  19. 19. Taxation Requirements Individuals Australian tax residents assessed on worldwide ordinary income Non residents assessed on Australian sourced income – 183 day rule Resident individual tax rates
  20. 20. Taxation Requirements Taxable Income Tax on this income 0 - $18,200 Nil $18,201 - $37,000 19c for each $1 over $18,200 $37,001 - $80,000 $3,572 plus 32.5c for each $1 over $37,000 $80,001 - $180,000 $17,547 plus 37c for each $1 over $80,000 $180,001 and over $54,547 plus 45c for each $1 over $180,000 The above rates do include the Medicare levy of 2% and the Temporary Budget Repair Levy of 2% for taxable incomes over $180,000.
  21. 21. Other Tax Considerations  Goods and Services Tax rate of 10% (rebatable)  Thin capitalisation  Transfer pricing
  22. 22. DOING BUSINESS IN AUSTRALIA WEST MIDLANDS WEBINAR 30 SEPTEMBER 2014 Stephen Dobbs, Partner, +61 9225 5511, stephen.dobbs@hsf.com
  23. 23. INTRODUCTION • Common law legal system – based on English law • Multiple jurisdictions – Federal (‘Commonwealth’) – State / Territory – all have own statutes and courts • Taxes are levied at the federal level (corporations tax, personal income tax, capital gains tax) • Stamp duty can be significant and is levied on a state by state basis – generally imposed on a much broader range of transactions than in the UK • 10% GST (federal) • Customs duty (federal) – depends on class of goods 24
  24. 24. 25 BUSINESS STRUCTURES • Essentially as per UK – sole traders – partnerships – private companies – public companies – trusts • Companies must have at least one director ordinarily resident in Australia (three for public companies).
  25. 25. IS A LOCAL ENTITY REQUIRED? • An overseas corporation is required to register in Australia if it ‘carries on business in Australia’ - usually requires some form of regularity of commercial transactions • Key exceptions: – maintaining a bank account – effecting sales through an independent contractor (ie distributor) – soliciting or procuring orders that become binding contracts only if 26 accepted outside Australia • Registration requires appointment of a local agent, filing of financial information etc • Alternatively can establish Australian subsidiary
  26. 26. FOREIGN ACQUISITIONS OF AUSTRALIAN BUSINESSES • Statutory foreign investment regime overlaid by published government foreign investment policy • Administered by Foreign Investment Review Board (FIRB) • Generally foreign acquisitions of Australian businesses require notification and approval if value above approx A$250 million • Direct or indirect acquisitions of non-agricultural land generally require approval regardless of value (some exceptions apply) • ‘National interest’ test • No exchange control restrictions 27
  27. 27. EMPLOYING STAFF IN AUSTRALIA • Federal legislation – Fair Work Act – minimum employee entitlements (re leave etc) – industry /occupation based awards (collective bargaining) – enterprise agreements between particular employer and its staff • Statutory long service leave – state by state • Mandatory superannuation contributions by employer – currently 9% but scheduled to ultimately increase to 12% • Wages generally high by international standards given high cost of living 28
  28. 28. 29 TRADING • Law of contract broadly as per English law. However considerable statutory overlay – Prohibition on ‘misleading or deceptive conduct in trade or commerce’ – applies to all commercial dealings – Additional consumer protection provisions – statutory guarantees of fitness for purpose etc – Protection for consumers against unfair trading terms and unconscionable conduct • Strict anti-trust laws and restrictions on third line forcing, boycotts, price fixing etc (exclusive distribution arrangements generally fine) • Privacy legislation protects personal information of customers
  29. 29. PRODUCT LIABILITY • Strict liability for manufacturers of defective goods that cause injury, loss or damage – regime based on 1985 EC product liability directive • UN Convention on Contracts for the International Sale of Goods may apply to certain international contracts for the sale of products (no application to products for personal, family or household use) 30
  30. 30. The contents of this publication, current at the date of publication set out in this document, are for reference purposes only. They do not constitute legal advice and should not be relied upon as such. Specific legal advice about your specific circumstances should always be sought separately before taking any action based on this publication. Herbert Smith Freehills LLP and its affiliated and subsidiary businesses and firms and Herbert Smith Freehills, an Australian Partnership, are separate member firms of the international legal practice known as Herbert Smith Freehills. © Herbert Smith Freehills 2014 31 DISCLAIMER
  31. 31. Doing Business in Australia
  32. 32. Unipart Rail Journey • Invested time and effort in Specific desk top research • Number of key visits • Opened Unipart Rail Office Nov 2007 – AusRail trade show • Sydney Location due to sister company • Formed JV with UGL in 2011 • JV Successful with RailCorp Maintenance Contract in 2011 worth $1.4B • Unipart Rail growth into other states • “Different” solutions • Products • Supply Chain Services • Consultancy
  33. 33. Market Research & Intelligence • Do as mush research as possible • Best option “go and see” • Understand your market • Local competition • Where you fit against local activity • Understand “win” factors – Local content • Location • Tyranny of distance • Communication • Nationally / Internationally – Time zones • Portability of the offering
  34. 34. Resourcing Costs •Local v Ex pat Cost of living Business costs – 457 Visa, travel, FBT Do your research Workforce Flexibility •Distance from UK •Visa process and rules •Experience/Skill set •Union strength •Responsiveness •Support for in-territory team
  35. 35. Rail Opportunities •Major Infrastructure projects  NWRL  Melbourne Link Train Build Projects  QR NGR  NSW Intercity Light Rail  State Capitals •Innovation •Partnerships
  36. 36. Next Steps • Strategy agreed • Understand opportunities and threats • Understand “the onion” • AusRail 2014 – meeting / Visit programme • UKTI advice

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