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Latest Accounting News
Hot Issues
ATO dispels top tax time myths to clients as clampdown rolls out
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Tools to help you manage your financial position are available on our site.
Articles archive
Quarter 2 April - June 2018
Quarter 1 January - March 2018
Quarter 4 October - December 2017
Quarter 3 July - September 2017
Quarter 2 April - June 2017
Quarter 1 January - March 2017
Quarter 4 October - December 2016
Quarter 3 July - September 2016
Quarter 2 April - June 2016
Quarter 1 January - March 2016
Quarter 4 October - December 2015
Quarter 3 July - September 2015
Quarter 2 April - June 2015
Quarter 1 January - March 2015
Quarter 4 October - December 2014
Working holidaymakers and tax returns

If your business employs working holidaymakers – or you’ve been one yourself this year! – you need to satisfy the “backpacker tax” s that came into effect from 1 January 2017.



     



Employers needed to issue two payment summaries to each working holidaymaker with the income apportioned before and after 1 January 2017. Only one summary is issued for 2018.




If the right visa is held (471 or 462 are most common) the tax rate is:-




0 - $37,000 15% each dollar


$37,000 - $87,000 32.5% over $37,000


etc




Employers must register their intention to hire working holiday makers.




It is advisable not to attempt to comply with these rules without help.





AcctWeb




3rd-May-2018