A range of tax breaks are available for entrepreneurs seeking to start or migrate new businesses to Western Australia, says darrell todd, ceo of thinkingaustralia.com. “With its ongoing booming economy, Western Australia is a highly attractive destination for business people seeking new opportunities,” says todd, whose company is supporting the Western Australian government’s bid to attract business migrants. “Western Australia is one of the most generous and attractive States in the country when it comes to business migration.”
thinkingaustralia.com has helped thousands of entrepreneurs and businesses to re-locate and/or migrate Down Under and is the UK’s number one point of contact for new business opportunities. “We work closely with the Western Australia Small Business Development Corporation to help identify and support new business enterprises,” says darrell todd.
“The S.B.D.C offers a comprehensive range of services to help start and grow your business, says Bruce McFarlane, a Director at the Western Australia Small Business Development Corporation. “We can help with everything from how to set up a company, register for tax, and obtain business licences, to providing information on local employment, market conditions and commercial opportunities”. Services and support offered by the S.B.D.C are free and aimed at attracting and supporting both start-ups and existing businesses.
“W.A. is a low tax state for business, with the cost of land and buildings relatively cheap, certainly when compared to UK,” says McFarlane. “We have a range of schemes and initiatives to support businesses, including development grants and tax breaks for areas such as R&D”. “Western Australia offers State Sponsorship for business migrants, including generous concessions on your existing business. Instead of needing a turnover of A$500,000 p.a. under previous regulations, you now only need a turnover of A$300,000. “Another major advantage of W.A. is that, rather than having to be under 45 years of age, if sponsored by the W.A. government, a business migrants only has to be under 55 years of age”.
“Economic growth offers incredible opportunities for new business, particularly in the services and tourism sectors,” says McFarlane. “The State’s ongoing boom in mining provides many openings for new businesses that aim to support and feed into and supply the major mining and resource companies. In addition, Australia’s rapidly expanding exports to China and India are set to provide a truly stable ongoing environment for business for decades to come.
Everyone enjoys a tax break, but considering it depends on the location this may not be the tax break for everyone. However, someone who offers a product that might sell well in Australia or already has a business there looking to relocate might benefit from the extra break they’d get in Western Australia.