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These investments offered by Australia State/Territory Treasury Corporations are:
Repayment of principal on maturity is guaranteed by the State/Territory government.
The Australian Taxation Office (ATO) has deemed that income you earn from your investment in Australia is taxable under Australian taxation law. Income earned in Australia by non-residents is subject to 10% withholding tax which will be automatically deducted from the interest earned on your Designated Investment until you provide an Australian tax file number and evidence of your status to the agency in which you have made your investment.
The ATO strongly advises people arriving in Australia for the first time as business entrants to contact the ATO and apply for a tax file number.
To make a Designated Investment you should first contact at least one of the State/Territory Treasury Corporations. They will be able to provide you with current information on the terms and conditions of the investment, as well as ssend you an investment application form and specific instructions on how to lodge a Designated investment in their State/Territory.
At the initial enquiry stage, the Treasury Corporation can only indicate the likely rate of return on a proposed investment. The actual rate of return on your investment will be set when you deposit your funds in the Designated Investment. Obviously, interest rates can change frequently and may differ among State/Territory Treasury Corporations.
Do not make the Designated Investment until the DIMIA officer processing your case informs you in writing to go ahead. You should also ensure that the funds you used to make the Designated Investment are personally owned and have been legally acquired as a result of your business and/or investment activities. The funds transferred must be in Australian dollars.
The Designated Investment must be made in time for you to enter Australia before your health and character checks expire. Once you have made the investment, the stock issuing authority will send you a letter or certificate to acknowledge receipt. A receipt will also be sent to your case officer, whereafter a decision can be made on your application.