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Central & South America
Europe
Africa
Asia & Middle East
Southeast Asia & Oceania
Australia Business Report
General information
Source: The World Factbook - Central Intelligence Agency
Population
23,232,413 (July 2017 est.)GDP (PPP)
$1.235 trillion (2017 est.)Second largest economy in Southeast Asia - Pacific
GDP growth rate
2.2% (2017 est.)Healthy growth rate which the economy has kept for several years, although the fall in commodity prices poses the threat of a slowdown (commodities export is the backbone of the Australian economy)
GDP (PPP) per capita
$49,900 (2017 est.)High
Local currency
Australian Dollar (AUD)Stable currency, it suffered in recent years because of the fall in commodity prices
Financial stability (Public debt)
47.1% of GDP (2017 est.)Medium to low
Inflation
2% (2017 est.)Medium, very good level of inflation
Language
EnglishCorruption perception index (Source: Transparency International)
13/180Low level of corruption
Duties and tax
Source: PwC World Tax Summaries 2017-2018
VAT
10% goods and services tax rate
Corporate Tax
30% standard rate 27.5% applies to small business entities (turnover up to AUD 50M)
Duties
Imports into Australia are subject to duties under the Australian Customs Tariff. The top duty rate is 5%.
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