Despite their vast property holdings, the royal family no longer own properties outside the United Kingdom.
Crown lands comprise around 23% of Australian land, of which the largest single category is vacant land, comprising 12.5% of the land.
The monarch appoints the governor-general and the governors, on the advice of the respective State and Federal executive governments. These are now almost the only constitutional functions of the monarch with regard to Australia.
The monarch of the UK is still the head of state of Australia and 'rules' through a governor-general. The death of Queen Elizabeth II has reignited a debate in Australia regarding whether the country should become a republic, and thus shed its colonial past.
The Queen owns the Balmoral and Sandringham Estates, which were both inherited from her father. Estimates of The Queen's wealth often mistakenly include items which are held by her as Sovereign on behalf of the nation and are not her private property.
It may surprise you to know that while the queen was the richest member of the royal family, she wasn't a billionaire.
The Queen and Prince Phillip stopped by the Inn at Whitewell in 2006 for a celebratory birthday lunch before visiting the nearby Burholme Farm. While it may be unexpected for the head of state to pop for a cottage pie and apple crumble, it perhaps make a lot more sense when you realise she owns the pub.
The Queen receives a yearly sum through what is known as the Sovereign Grant , which is equivalent to £1.29 per person in the UK. In Aussie dollars, that's around $2.23 per person, which last financial year amounted to a whopping $148 million.
Her Majesty Queen Elizabeth II was the longest reigning monarch in British history. Her portrait has been represented in every Australian banknote series since her coronation, reflecting Australia's constitutional monarchy.
The final constitutional ties between the United Kingdom and Australia ended in 1986 with the passing of the Australia Act 1986. Formal economic relations between the two countries declined following Britain's accession to the European Economic Community in 1973.
These include giving Royal Assent to laws passed by the Australian Parliament and starting the process for a federal election. While these powers are exercised by the Governor-General, in reality this is normally done on the advice of the Prime Minister and ministers.
Section 68 of the Constitution sets out the ADF's command arrangements. The Section states that "the command in chief of the naval and military forces of the Commonwealth is vested in the Governor-General as the King's representative".
The Queen is the only person to declare war and peace. This dates back from when the Monarch was responsible for raising, maintaining and equipping the Army and Navy. Today, this power can only be exercised on the advice of Ministers.
Australia's biggest private landowners, pastoralists Donny and Colleen Costello and their equity partner, former racing horse trainer Viv Oldfield, have extended their vast cattle station empire to more than 9.2 million hectares, after acquiring Mount Doreen Station in the Northern Territory for around $70 million.
The simple answer is No. Australia does not pay a cent for the maintenance or security of the Sovereign.
Which economies invest in Australia? The United States and United Kingdom are the biggest investors in Australia, followed by Belgium, Japan and Hong Kong (SAR of China). China is our eighth largest foreign investor, with 2.2 per cent of the total.
Her Majesty leaves behind over $500 million in personal assets from her 70 years on the throne, which Prince Charles will inherit when he is crowned king.
Australians will get a one-off public holiday as a national day of mourning to mark the death of Queen Elizabeth II the prime minister, Anthony Albanese, has announced.
Will new coins with the face of the King be issued? Yes, but there is no firm timetable for release. After a period of mourning observance, new coins and notes with King Charles III's image will need to be designed and minted or printed, but are not likely to appear in general circulation for some time.
The Royal Family has opened its books to show how the Queen receives her money. A taxpayer-funded payment, known as the Sovereign Grant, is paid to the Royal Family each year - but it's not the Queen's only source of income.
What government funding does the royal family receive? The reigning British monarch receives a sovereign grant from the government each year to support their official duties – such as receptions and garden parties – and to cover running costs – such as for royal travel and building maintenance.
They are part of the Royal Collection, held in trust by the monarch for the nation. Since the 1600s the 'Crown Jewels' have been protected at the Tower of London.
However, perhaps a little more unconventionally, the Queen even has a fast-food McDonald's branch. Nested 80 miles outside of London at the Banbury Gateway Shopping Park, on the edge of Oxfordshire, the Maccy D's is open to the public.
Heinz, which has been providing the royal households with products since 1955, said it “sincerely hopes to be able to continue doing so for many years to come”.
The Goring hotel, sitting on a leafy side street in the shadow of Buckingham Palace, has been the royal family's favorite property for decades.