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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

Taxation rulings and documentation search

eWombat is a targeted search engine that only searches websites relevant to financial planners and accountants. A great resource to search for tax rulings, human services documents, etc.