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Navigating Business in Australia: Insights from Mazars' Comprehensive Guide

Mazars has published its annual guide to doing business in Australia, focusing on the key legal, tax and regulatory requirements.

Mazars new business guide assists in navigating the challenges and opportunities encountered when establishing an Australian business. The action focused guide will help you ask the right questions in areas such as foreign investment policy, tax requirements, compliance, insurance regulations, employment laws and government initiatives.

Below is a snapshot of some of the key questions included in the guide:

• What is the Australian fiscal year?

Companies normally file an annual tax return for the Australian financial year of 1 July to 30 June however companies can request a different year end so that it aligns with your parent entity.

• Are there foreign investment regulations that businesses need to be aware of?

The Australian government adopts an “open for business” stance and aims to reduce barriers for investment.  There are a number of considerations for foreign investment in Australia.

Foreign investment is regulated by the Foreign Acquisitions and Takeovers Act 1975 (Cth) (FATA); certain foreign investment proposals will require review and approval by the Foreign Investment Review Board (FIRB).

Additionally, there are industry-specific regulations that affect foreign investment into certain industries, e.g. banking.

Read the full 2023-2024 Guide here: