Social Studies

Keyon Garcia

2 April, 01:56

Australia's economy has seen constant growth over the past 20 years, and it came through the worldwide economic recession almost untouched. Their top individual tax rate is 45%, which the top corporate tax rate is 30%. Government spending accounts for roughly 35% of the total GDP. Australia has deregulated many of its markets and reduced trade barriers since the 1980s. While the government does have some regulatory control over business, starting a company requires little in the way of "red tape." - taken from "Australia: 2014 Index of Economic Freedom" by The Heritage Foundation.