Internationals doing business in Australia
Businesses today are becoming more global in their outlook and their reach. Like any country, establishing a business in Australia can be a minefield of documents, government departments and legislation. Australia’s tax laws are complex and for multinational businesses their global tax strategies are a focus of attention. DFK Gooding Partners Chartered Accountants can assist in simplifying the process, allowing you to focus on the actual business and the reasons why you are in Australia. Our tax and corporate advisors’ experience can help you ensure your business objectives and tax strategies are well aligned.streamline the documents and in most cases, cut down the set up time.
The profitability of foreign start-up operations can be greatly affected by the amount of international taxation paid. With this in mind, our experienced advisors can work with you to ensure you pay the right amounts to the ATO.
Our International Business Services
If you want to operate or grow internationally, DFK can help you get there by tapping into our global membership. Member firms are carefully selected for the quality of service that they provide and with more than 50 years of experience of working together, DFK has the experience to know what we are talking about.
If you are looking to enter the Australian market from overseas, we can help you identify matters key to the company’s success and advise on setup, management and compliance, cost minimization and even human resources. We provide end-to-end solutions including:
- Entity establishment and registration;
- Relationship management with local contacts;
- Tax advisory services;
- Corporate secretarial services;
- Back Office Support;
- Business Advisory Services
Establishing a new business in a foreign country can be an overwhelming experience. DFK Gooding Partners can assist in taking the compliance and paperwork costs off your busy schedule by proving back office support to your business, allowing you to focus on establishing sales and revenue streams. We offer several solutions ranging from complete support services, through to simple administration tasks such as completing the regular taxation compliance lodgements for the Australian Taxation Office.
The added benefit to this service is the cost savings of not having to employ full time back office staff and the ongoing costs associated with such. As your business grows in Australia, we can continue to provide this service or work with your team to transition this service to your office in Australia.
For foreign individuals and businesses wanting to enter the Australian market, an acquisition or merger with an existing company is commonplace. Our Corporate Finance Division can help you maximise these opportunities with services such as:
- Due diligence;
- Business/asset valuations;
- Deal structuring advice;
- Risk mitigation.
Dividends, interest and royalties paid to non-residents are generally subject to withholding tax at a flat rate varying between 10-30%. These are considered to be final taxes on these payments. Exemptions can apply, or may be reduced, under Double Tax Agreements. Knowing the exemptions and when to apply them can save significant tax, for example an interest payment is not deductible until the withholding tax has been paid. The team at DFK Gooding Partners can ensure you are fully informed of the obligations, giving you peace of mind.
DFK Gooding Partners can also help with the reporting requirements for the Australian Securities and Investments Commission (ASIC). Foreign companies are not exempt from the audit and disclosure requirements set in place, and any foreign company wishing to carry out business within Australia must be registered with ASIC. This lengthy process can be undertaken by our skilled business advisors as well as all ongoing obligations with ASIC including:
- Lodgement of financial statements;
- Annual reviews;
- Notification of corporate changes;
- Applications of relief;
- Periodic reporting;
- Outsourced Payroll;
- Back Office Support;
- Double Taxation Agreements.
National and International Network
DFK Gooding Partners is an independent member of DFK International an association of independent accounting firms and business advisers.
Our DFK membership means that wherever in the world you want to do business, we can draw on the experience of independent firms like ours, who also share our client-focused approach. In this way, you’ll benefit from working with a local firm that takes the time to understand your needs. You’ll also effectively be supported by a multinational accountancy firm, offering worldwide expertise on issues including business practices, tax regimes and business opportunities.
