Australia states comparison table in 2023

SummaryNew South WalesVictoriaQueenslandAustralia Capital TerritoryWestern AustraliaSouth AustraliaNorthern Territory
Preferred city for incorporation of the company?SydneyMelbourneBrisbaneCanberraPerthAdelaideDarwin
Business output market size? (in AU$ billions)AU$507AU$356AU$300AU$35AU$276AU$99AU$22
Market size relative to the economy?31%22%19%2%17%6%1%
Local purchasing power (GSP per capita) AU$?66,96660,41363,20989,975107,24758,25392,107
Total population? (in thousands)7,6715,9964,8093932,6041,703244
Most popular business sector?Business servicesBusiness servicesBusiness servicesBusiness servicesMiningHousehold servicesNatural gas
Specific attractive Government incentives available?YesYesYesYesYesYesYes
Hub for the headquarters of multi-national firms?YesYesNoNoNoNoNo
City airport with direct flight to Europe, Asia and America? YesYesNoNoNoNoNo
Total foreign investment in 2015? (in AU$ trillion)1.410.
Logistical considerationsNew South WalesVictoriaQueenslandAustralia Capital TerritoryWestern AustraliaSouth AustraliaNorthern Territory
Attractive State for a manufacturing business?YesYesYesNoYesNoNo
Attractive State for a e-business?YesYesNoYesNoNoNo
Attractive State for an export-oriented service business?YesYesNoNoNoYesYes
CBD monthly office rental per sq m?AU$108AU$67AU$73AU$100AU$65AU$63AU$56
Average monthly warehouse rental per sq m?AU$60AU$33AU$36AU$55AU$33AU$30AU$28
Average monthly electricity prices? (cents per Kwh)31312627273630
Proximity of sea port to the main city?3km6km6km288km18km14km6km
Proximity of airport in kilometres to the main city?12km23km15km7km11km6km11km
Proximity of rail in kilometres to the main city?600m400m450m6km100m2km17km
Number of international tourists? (in million)
Average annual inflation rate?0.9%1.4%1.5%0.8%0.5%0.7%0.1%
Average unemployment rate?5.2%5.8%6.4%3.8%5.7%6.9%4.1%
Time zone? (ahead of GMT)+10 hours+10 hours+10 hours+10 hours+8 hours+9.30 hours+9.30 hours
Quality of internet broadband and Wi-Fi?ExcellentExcellentGoodExcellentGoodSatisfactorySatisfactory
Corporate banking and finance considerationsNew South WalesVictoriaQueenslandAustralia Capital TerritoryWestern AustraliaSouth AustraliaNorthern Territory
Is the main city a financial services hub?YesYesNoNoNoNoNo
How many global banks are based in the state?3317821251
How many Aussie banks with local branches?17151716171711
Recommended Bank for corporate banking?Westpac BankANZ BankCommonwealth Bank HSBCANZ BankCommonwealth Bank Westpac Bank
Quality of bank customer services?ExcellentExcellentGoodGoodGoodGoodSatisfactory
Quality of online banking services?ExcellentExcellentGoodGoodGoodGoodGood
Does the State have a reputable financial district?YesYesNoNoNoNoNo
Does the State have a local Stock Exchange?YesNoNoNoNoNoNo
Are there Private Equity Funds/VCs in the State?YesYesYesYesYesYesYes
Employment considerations New South WalesVictoriaQueenslandAustralia Capital TerritoryWestern AustraliaSouth AustraliaNorthern Territory
Average monthly salary for local employees?AU$6,678AU$6,300AU$6,322AU$7,482AU$7,371AU$6,134AU$6,807
Average skilled labour monthly salary?AU$8,014AU$7,560AU$7,586AU$8,978AU$8,845AU$7,361AU$8,168
Average unskilled labour monthly salary?AU$4,975AU$4,810AU$4,625AU$5,237AU$4,160AU$4,294AU$4,165
Labour productivity (Value Added per hour)?AU$61AU$59AU$59AU$64AU$63AU$57AU$59
Is there a large expatriate community in the State?YesYesNoNoNoNoNo
International schools for children of expatriate employees?YesYesYesYesYesYesYes
Golf courses near the main city of the State?YesYesYesYesYesYesYes
General availability of bars and restaurants?YesYesYesYesYesYesYes
Will I find European F&B products in the supermarkets?YesYesYesYesYesYesYes
Mercer Survey Ranking for global cities?101536282127Not ranked
Is the main city of the State safe for expatriates?YesYesYesYesYesYesYes
Literacy rate? (% of population)96%96%95%99%95%96%95%
Computer literacy rate? (% of population)85%85%80%90%70%65%65%
Working overtime is common?YesYesNoYesYesNoNo
Accounting and tax considerationsNew South WalesVictoriaQueenslandAustralia Capital TerritoryWestern AustraliaSouth AustraliaNorthern Territory
Payroll tax rates?5%5%5%7%6%5%6%
Stamp duty rate on asset transfers of AU$500,000?5%6%5%6%5%5%5%
Land tax (over threshold) on property worth AU$500,000?1.6%0.2%1.7%4.6%0.25%0.5%0%
Monthly state tax filing required?YesYesYesYesYesYesYes
Business grants offered by the state government?YesYesYesYesYesYesYes
Specific tax incentives available in this state?YesNoNoNoNoYesNo

How many tax exempt free zones available?0
Average customs duty of export products?5%
Average customs duty for imported products?5%
Local VAT rate?10%
Corporation tax rate?30%
Withholding tax on dividends to overseas shareholders?0%
Total foreign investment in 2015?AU$3 trillion
Minimum monthly wage?AU$2,915
Average pension and insurance benefits (% of salary)?10%
Mandatory labour unions?No
Minimum notice to dismiss employees?3 weeks
Minimum redundancy indemnity?2 months

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