The right environment for business

Just as trees can only thrive under the right conditions - with clean water, sunshine and nutrition - business can only thrive when it has the right conditions. Australia offers the right conditions to make a business grow.

It has the 'clean water' of top level technology, quality raw materials and a highly skilled workforce; it has the 'sunshine' of a low level of government interference and taxes; and it has the 'nutrition' of a substantial home market along with access to many vigorous export markets.

In short, Australia provides a unique and exciting business environment in the most dynamic business region in the world today.

Australia has the technology

Australia produces about two per cent of the world's scientific papers, ranking with the US and the UK on a per capita basis.

Australian scientists have produced important advances which have led to such technological tools as gene shears for genetic engineering, a stable storage medium for nuclear waste, and an aircraft landing system which is to be installed at all major airports in the world.

Public sector research and development (R&D) is highly accessible to industry. Government R&D agencies include the highly regarded CSIRO, which has supplied many technological advances to private industry.

Government is pro-business

The Federal and State governments in Australia are committed to supporting business growth in the interest of all Australians.

Government decisions have created a competitive business tax regime and have made Australia an attractive place to do business.

For example, corporate tax has been reduce from 39% to 36% in the 1999-2000 tax year and will be further reduced to 34% in 2000-2001 and to 30% in 2001-2002. Depreciation provisions allow accelerated write-offs for longer-lived items of plant and equipment.

A development allowance provides significant tax concessions for large-scale investments which use world best-practice techniques.

Exemptions have been extended under the wholesale sales tax system for business supplies and services. Finally, the introduction of dividend imputation has removed double taxation of dividends.

Access to markets

Australia is making the most of its closeness to Asian markets. But Australian high technology exports are also heading in other directions: Australian designed and built high speed ferries already cross the English Channel and Australian play equipment graces many McDonalds stores around the world.

Australia is committed to opening its own markets to world trade and to taking a positive role in negotiations to liberalise trade. The conditions for business growth are getting better all the time.