Australia Business, Taxation and Offshore Information
Australia is the world’s smallest continent and sixth-largest country, lying between the Pacific and Indian Oceans in the Southern Hemisphere. Covering over 7.5m square kilometres of land, it consists of the continental mainland plus the island of Tasmania and numerous smaller islands.
Australia’s population is 25 million and, while around 90% of Australia’s population is of European ancestry, there has been significant immigration from Asia. English is the national language and there is no state religion, though over 60% of Australians are at least nominally Christian.
The federated Commonwealth of Australia is composed of six states and two mainland territories. The head of state is the British monarch, currently Queen Elizabeth II. Elections for the Senate and House of Representatives are normally held at the same time every three years. The political party with majority support in the House forms the government and its leader becomes prime minister. The previous prime minister, Malcolm Turnbull, held office from September 2015 to 24 August 2018. Following a leadership contest (known locally as a ‘spill’), he resigned as prime minister, citing tensions and discontent within the Liberal party. The current prime minister is Scott Morrison. More »