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Why Investing In Australia Is Profitable

 

Why Investing In Australia Is Profitable

For international companies, investing their money is the very fire that runs their business operations. These companies are always on a treasure hunt of the best places to invest. One goldmine for prime investment is Australia. You can never accuse Australia of prevalent poverty and low development rate. In fact, statistics show that Australia is one of the wealthiest countries in the whole world, making Australia as a first-rate location for international investments.

A Closer Look at the Australian Economy, Money and Tax

Most financial studies claim that the economy of Australia is one of the busiest and most profitable capitalist economies in the world; an estimated amount of earning of a state is US$1.57 trillion in the year 2012. Majority of Australia’s economy is fuelled by its service sector.

Australia’s biggest service sector is related to information technology (IT) related jobs. Another service oriented industry attracting major investors is Australia’s banking system. The known Big Four banks namely the National Australia Bank, Commonwealth Bank, Westpac and Australia and New Zealand Banking Group were included among the world’s 50 safest banks as of April 2012.

The tourism industry also keeps the wheel of profit turning in favour of the Australian economy, money and tax. With unique tourist spots like the spectacular Uluru Rock Formation and the scenic Great Barrier Reef, no doubt that millions of tourists spend their hard earned cash for their Australian holiday. In terms of an economist, the more active tourism industry, the more dollars coming in.

When it comes to the trade and economic performance of Australia as a country, it has a known badge of integrity and greener pastures. This is perhaps the reason why most developing countries as well as developed countries are willing to enter into Free Trade Agreements with Australia. Countries like United States, Singapore, Japan, China, Malaysia, are just the few countries that Australia had agreements with. Not to mention that Australia is also a member of the Pacific Agreement on Closer Economic Relation (PACER) way back 2009 and the Trans-Pacific Strategic Economic Partnership since 2010.

When it comes to taxes, the lifeblood of Australia’s economy is its income tax. This revenue stream is imposed on personal earnings, business income and capital gains.

Indeed, with an economic performance like this, there can be no doubt that Australia is a key player in today’s world-wide economy.

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