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
