Norfolk Island Tax

Tax Norfolk Island

The Norfolk Island legislature is disbanded and its residents are taxed in Australia and given social assistance. The Australian government will supersede the Norfolk Island legislature with a municipal councillor, introducing taxes and making social services available from July 2016. Norfolk is the Norfolk Island's most important legislature since it was founded in 1979. At present, the inhabitants of the small island between New Zealand and New Caledonia are paying 12% GST and the tourist industry is the most important factor in the economy.

"Norfolk Island's infrastructures are run down, the healthcare system is not up to scratch and many legislation is outdated," Briggs said. The island of New South Wales will be responsible for the provision of service and while the inhabitants will have to contribute to the island's tax and tax, they will be exempted from 10% VAT.

The fourteenth Norfolk Island legislature, electoral meeting on 13 March 2013, consists of nine members:

A new minister gives impetus to reform in the Norfolk Islands

"I am responding to concern in the Norfolk Island communities today by saying that Australia's withholding tax (CGT) does not cover property owned by Norfolk Islanders before today," said Mr Fletcher. "This amendment means that, as of today, CGT will only cover property purchased by Norfolk Islanders and provides added flexibilty in the management of inherited heritage.

This amendment does not cover CGT property owned by persons resident in Norfolk Island who would not have been exempted from CGT before Norfolk Island was integrated into the Australian tax system. "In order to help small companies on Norfolk Island, there are also tax incentives for companies that can mean an immediate withdrawal of capital that costs less than $20,000.

From their accession to the tax system in Australia on 1 July 2016, small companies on Norfolk Island may gain entry to this licence until 30 June 2017". "I am committed to the efficient execution and expansion of programmes and service on Norfolk Island.

Norfolk Island Administrator, Hon Gary Hardgrave, will share these stories with the Norfolk Island fellowship next months and share the results with the comunity.

Mehr zum Thema