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INVESTING IN NSW > Living in NSW

Visas, salaries and taxes

Visas
The NSW Government has a clear, easy to use website with immigration information for:

  • business owners, investors and senior executives who want to enter NSW to start a business
  • skilled migrants looking to work in NSW
  • skilled migrants looking for opportunities in regional NSW.

Other websites of interest to potential migrants are:



Australian citizenship
If you are interested in becoming an Australian citizen you must:
  • have been living in Australia as a permanent resident for two years in the previous five, including for 12 months in the past two years
  • be of good character
  • have a basic knowledge of English (this does not apply if you are 50 years or over)
  • have an adequate knowledge of the responsibilities and privileges of being an Australian citizen (this does not apply if you are 60 years or over)
  • intend to live in, or maintain a close and continuing association with, Australia.

The Australian Government introduced legislation into the Australian Parliament in September 2005 to amend some of the provisions for Australian citizenship including extending the residency requirement by 12 months to three years. For further information visit the Citizenship website. This site also details whether you can hold dual citizenship with your country of origin.


Salaries – what you will earn
Salaries vary widely by industry, location and are dependent on skills and experience. For up to date information on what you might expect to earn in NSW go to the web sites of some of NSW recruitment firms that publish salary survey information:

http://www.olivier.com.au/page/salary.html
http://www.hays.com.au/salary/default.aspx
http://www.acpeople.com.au/salary/
http://www.careerone.com.au/news-advice/salary-centre/salary-surveys-20080506


Taxation
Tax is a specialised area and needs to be worked out on an individual basis. Income tax can be structured in various ways for employees in Australia. Individual, partnerships and companies have to submit a tax return at the end of each financial year, which falls on 30 June. It is advisable to use the services of an accountant to do this.

If you start your employment as a salaried worker, visit an accountant to find the best tax set-up for you. There are two kinds of qualified accountant in Australia: the certified practicing accountant or CPA, or Chartered Accountant. Make sure your accountant has one of these qualifications.

For basic information on tax rates, fringe benefits tax – which affects employment benefits like company cars and business expenses – superannuation and family tax benefits visit the Australian Tax Office (ATO) website.

If you will be paid a salary you can work out your weekly, fortnightly or monthly income tax deductions in the tax calculation section of the ATO website. The amount of income tax you pay also depends on your visa status. Once you are registered as an Australian resident, the following table for 2009-10 is a guide to the income tax that will apply.

Annual earnings Marginal Tax
rate (%)		 Annual rate
A$1 - $6000 0 Nil
$6,001 – $35,000 15 15c for each $1 over $6,000
$35,001 - $80,000 30 $4,350 plus 30c for each $1 over $35,000
$80,001 – $180,000 38 $17,850 plus 38c for each $1 over $80,000
$180,001 and over 45 $55,850 plus 45c for each $1 over $180,000

In addition there is the Medicare levy of 1.5% of taxable income.

For more information on individual income tax rates, see the ATO website.