Does Australia have a high tax rate?

December 2, 2022

Australia has a relatively high tax rate compared to some other countries. The country’s overall tax burden, which includes taxes on income, consumption, and wealth, is among the highest in the developed world. In 2019, the overall tax burden in Australia was 33.7% of gross domestic product (GDP), which was higher than the average for OECD countries of 28.9% of GDP. However, Australia’s tax system is progressive, meaning that people with higher incomes are generally subject to higher tax rates. In addition, the country offers various tax incentives and exemptions that can reduce the tax burden for some individuals and businesses.

“When a falling stock becomes a screaming buy because it cannot conceivably drop further, try to buy it thirty percent lower.” – Al Rizzo

sc name=”fma-cta”]

This website is owned and operated by Investor Unity Pty Ltd (ABN: 90 160 624 331). Any advice included in this website or correspondence is general advice only and is based solely on consideration of the investment or trading merits of the financial products alone, without taking into account the investment objectives, financial situation or particular needs (i.e. financial circumstances) of any particular person. In addition to its internal services, Investor Unity is compensated by brokers and other third parties by way of referral/affiliate and/or general partnership arrangements, via its websites and other communications. Investor Unity is genuinely interested in your long-term trading & investment success. We advise you to take all necessary steps to ensure you have a good understanding of the products & services you’re considering investing in – particularly if they involve leverage. While Investor Unity takes every care to ensure that we only deal with the highest quality services, from throughout the industry, past performance is not a guarantee of future performance. Before making an investment or trading decision based on the general advice, the recipient should carefully consider the appropriateness of the advice in light their financial circumstances and should carefully review the PDS of the relevant financial product as provided by your investment broker. Past results are not a guarantee of future performance. Please contact us, to discuss any questions or concerns you may have- we are here to help.