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The Australian Union: Basic Information
The Australian Union (as a separate state) began its historical journey on the first day of the twentieth century - the first of January 1901. It was to this date that the announcement of Australia by the Colony Federation was timed. Six years later, the Australian Union received the status of a British dominion.
The first British dominion was in 1867, Canada, the Australian Union was the second. Then came the turn of New Zealand, the Union of South Africa and Ireland. After the Second World War, a "parade of sovereignties" began, and when in 1949 the "budding" India declared itself a republic and refused even the formal power of the British Empire, the term "dominion" was abandoned.
In the economy of the Australian Union, a significant place is occupied by the extraction of minerals, with which the country is very rich. In addition, in areas with a temperate climate, there are good conditions for farming. These two sectors of the economy dominated Australia until the end of World War II. Upon its completion, the country began an industrial boom.
The Australian tax system is characterized by the fact that residents of the Australian Union pay taxes regardless of the source of income. That is, the resident can earn in Russia or Mexico, and you will still have to pay taxes in Australia. In order to avoid double taxation, the government of the country has concluded more than forty treaties with various states.
The economy of Australia since the beginning of the 1990s has not known what a recession is, the unemployment rate in the country is less than five percent (and tends to decrease further), and inflation is two to three percent per year. According to various estimates, the level and quality of life in Australia is within the first five countries. To this optimistic picture it is necessary to add only a warm, climate-friendly climate. And here it is - Australia in all its glory.
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