BUSINESS IN AUSTRALIA

The most cost-effective and fast-developing industries are: mining, chemical, chemical, building, telecommunication systems, programming, production of medications, some kinds of services. By the law, anyone who wants to run his own business, can do it. There are various forms of business: from individual owning of business to other different forms of running it. It means, that you can create your own company or buy the one, which is already working, be the one owner and boss of the company or be a joint owner. The sum of your start-up capital may be 10 000 dollars and more. The question is that it can accumulate in Australia gradually. Your income depends on the success of your projects. The more income – the more risk to lose the firm.

The reasons of failures in business:

1)      Not knowing English at a good level

2)      Ignorance of the law

3)      Absence of necessary business connections

Bank system.

The banks in Australia are conservative and reliable. Because of the competition for clients, there are different services there. If you have a good credit history, you can take big credits under little percents.

If you want to open your own account in a bank, first you need to have your personal tax number. The statement on a receipt of it can be got in any post office.

You can pay for services, commodities etc. in different ways:

1)      with cash

2)      according to EFTPOS system

3)      credit card

4)      shopping credit card

5)      by installments or on a rental

Tax system.

The taxes are paid from all profits, regardless of the country, where they were earned. If the tax of any sum was paid abroad, the person will get some discounts. At the end of a financial year (June 30) every tax-payer must fill in the tax declaration, where he specifies the size of his own profits (salary).

The form of a tax declaration can be got in any post office of Australia. Although the taxes are high, all people pay them honestly. The person cannot be put in prison for the non-payment of taxes. He will just be fined (it’s the worst way…).

The tax inspection  is honest too, and it returns your money to you if superfluous sum was taken from your profits.