Business Migration to Australia
13 September 2015 by News Desk
Migrants generated $1.8bn in business income in Australia, with skilled migrants making the most money.
Skilled stream migrants reported $1.2 billion (66%) of Own unincorporated business income while those in the Family stream reported $485.7 million (27%), according to latest available official figures for 2010.
The majority of Own unincorporated business income was received by males with $1.4 billion (77%). Male migrants aged between 35 and 44 years were responsible for almost a third of this income and those aged 25 to 34 years almost a quarter, according to latest figures from the Australian Bureau of Statistics.
The 34% female migrants reported $451 million in Own unincorporated business income.
Primary applicants received the majority of Own unincorporated business income with $1.4 billion (80%) (see Graph 11).
A third of all income from Own unincorporated business ($603.4 million) was reported by migrants with taxable incomes between $6,001 and $35,000. A further 29% was received by those with taxable incomes between $35,001 and $80,000.
Almost a quarter of Own unincorporated business income was reported by only 2.4% of migrants with taxable incomes over $180,000. This subgroup also had the highest median Own unincorporated business income at $119,833.
Of those migrants who reported receiving Own unincorporated business income, two-thirds were males who reported 77% ($1.4 billion) of this form of income. Migrants also reported $327 million in Other income, with males receiving 70% of this income. Migrants aged 55 years and over had the highest median Other income, with the median income of males in this age group double that of females ($15,434 compared with $7,477).
In contrast, females reported receiving over half of Investment income ($561.0 million). Females aged 55 years and over had the highest median Investment income ($2,335).
Skilled migrants were responsible for generating 66% ($1.2 billion) of total Own unincorporated business income. The vast majority of Own unincorporated business income was reported by Skilled males with $928.1 million or 79%. Skilled males aged 25 to 44 years reported $671.7 million (57%) of this Own unincorporated business income and Skilled females in the same age group $198.1 million (17%).
