Country profile
Anglo-economic and lifestyle stronghold of the Asia-Pacific. World-class universities, mining-driven prosperity, and one of the highest median living standards globally — paired with notoriously expensive housing and a tax system that combines progressive income tax (top 47%) with mandatory superannuation contributions of 12% from 2025. Skilled migration is points-based and predictable; the Subclass 482 / Skills in Demand visa replaced TSS in late 2024.
Capital
Canberra
Currency
AUD
Australian Dollar
Population
27M
Nominal GDP
$1.79T
Top marginal rate
47%
Effective at $100K
23.4%
Capital gains
23.5%
Income tax FY2025-26: 0% to A$18,200, 16% to A$45,000, 30% to A$135,000, 37% to A$190,000, 45% above + 2% Medicare Levy = top combined 47%. Stage 3 tax cuts revised in 2024 lowered low / middle bracket rates. CGT: 50% discount on assets held 12+ months — effective top rate 23.5%. Superannuation (mandatory employer 12% from FY2025-26): tax-advantaged retirement savings, taxed at 15% on contributions / earnings. Foreign tax residents do not get the tax-free threshold and pay 30%+ from dollar 1.
Median annual wage
$65,000
ABS Average Weekly Earnings × 52 (excluding super). Sydney / Melbourne tech compensation 70-90% of US tier-2 cities. Mining roles in WA / NT pay materially above national median due to FIFO premium. Total comp typically includes 12% superannuation employer contribution above stated salary.
Index (US baseline = 100)
92
Sydney is consistently in the world's top 10 most expensive cities (Demographia housing affordability survey). 1BR central rent A$3,000-4,500/mo. Melbourne 20-30% cheaper. Brisbane / Perth / Adelaide 40-50% cheaper at high quality of life. Healthcare via Medicare is universal; private supplements common. School fees are the major expat hidden cost — A$25K-45K/yr per child for international schools.
Skills in Demand (Subclass 482)
Replaced TSS in Dec 2024. Sponsored employment, 2-4 year duration. Skilled occupation list.
Skilled Independent (Subclass 189)
Points-based, no employer sponsor. PR directly. Skilled Occupation List + 65+ points.
Skilled Nominated (Subclass 190)
State / territory nominated. Slightly easier point thresholds than 189. Direct PR.
Working Holiday (Subclass 417/462)
12 months for under-30s from eligible countries. Extendable to 24-36 months via regional work.
Citizenship eligibility: minimum 4 years of legal residence (varies by pathway).
Citizenship requires 4 years lawful residence (incl. 1 year as PR). Australia allows dual citizenship since 2002. PR transitions to citizenship via the Australian Values Pledge.
An Australian Pty Ltd is the standard private limited company. ASIC registration ~A$575 + ABN/TFN registration. Corporate tax 25% for base-rate entities (turnover < A$50M), 30% for larger companies. Imputation system (franking credits) prevents double taxation of dividends — a major advantage for resident shareholders.
Pty Ltd (Proprietary Limited Company)
Standard SME / startup vehicle. Cheap (~A$575 ASIC fee) and quick. Franking credits eliminate double-tax of resident dividends.
Big 4 (CBA, Westpac, ANZ, NAB) dominate; CBA's app and ATM coverage best for new arrivals. Account opening typically requires Australian address + 100 points of ID — most do this remotely with newcomer documents. Up (Bendigo Bank's neobank) is the modern app-first option. Wise AUD account works for most international transfers.
System: Universal (Medicare) + private supplement
Citizens, PRs, and treaty-country visitors get Medicare — covers GP visits + public hospital + subsidized prescriptions. Medicare Levy 2% of income (low-income exemptions).
Expat insurance: $110–$250/mo
Lifetime Health Cover loading penalizes private insurance entry after age 31 — most working-age residents take out private hospital cover (Bupa, Medibank, HCF, NIB) early. International student / 482-visa OSHC / OVHC required by visa terms. Dental and optical NOT covered by Medicare.
100 Mbps
Median fixed broadband. Source: Ookla Speedtest Global Index, March 2026