Latest Accounting News

Deprecated: mysql_connect(): The mysql extension is deprecated and will be removed in the future: use mysqli or PDO instead in /home/sowacctw/public_html/articles/sow_server_v3.php on line 530
Hot Issues
ATO reveals small business hit list to combat tax debt
What are the FBT implications of Employee Christmas Parties and Gifts?
Assess a business before you buy it
Christmas Parties and Taxi Fare/Rideshare – FBT implications.
Practitioners cautioned on ATO’s top target areas for GST
ATO to target growing businesses in latest compliance blitz
Our SG compliance results are here
Top 20 Most Watched Christmas Movies ever - pre covid
A Unique Advent Calendar
Businesses ghosting the ATO targeted in debt collection blitz
Claiming the tax-free threshold: getting it right
Aussies tired of ‘dodgy tax criminals’, warns ATO
Protect your small business by following these essential steps.
Super guarantee a focus area for ATO business debt collection
Controversial ‘Airbnb tax’ set to become law
Withholding for foreign residents: an ATO focus area
1 in 3 crypto owners confused about tax, study reveals
20 Years of Silicon Valley Trends: 2004 - 2024 Insights
ATO reveals common rental property errors from data-matching program
New SMSF expense rules: what you need to know
Government releases details on luxury car tax changes
Treasurer unveils design details for payday super
6 steps to create a mentally healthy and vibrant workplace
What are the government’s intentions with negative gearing?
Small business decries ‘unfair’ payday super changes
The Leaders Who Refused to Step Down 1939 - 2024
Time for a superannuation check-up?
Scam alert: fake ASIC branding on social media
Millions of landlords the target of expanded ATO crackdown
Government urged to exempt small firms from TPB reforms
ATO warns businesses on looming TPAR deadline
How to read a Balance Sheet
Unregistered or Registered Trade Marks?
Most Popular Operating Systems 1999 - 2022
Articles archive
Quarter 3 July - September 2024
Quarter 2 April - June 2024
Quarter 1 January - March 2024
Quarter 4 October - December 2023
Quarter 3 July - September 2023
Quarter 2 April - June 2023
Quarter 1 January - March 2023
Quarter 4 October - December 2022
Quarter 3 July - September 2022
Quarter 2 April - June 2022
Quarter 1 January - March 2022
Quarter 4 October - December 2021
Quarter 3 July - September 2021
Quarter 2 April - June 2021
Quarter 1 January - March 2021
Quarter 4 October - December 2020
Quarter 3 July - September 2020
Quarter 2 April - June 2020
Quarter 1 January - March 2020
Quarter 4 October - December 2019
Quarter 3 July - September 2019
Quarter 2 April - June 2019
Quarter 1 January - March 2019
Quarter 4 October - December 2018
Quarter 3 July - September 2018
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
Quarter 3 July - September 2014
Quarter 2 April - June 2014
Quarter 1 January - March 2014
Quarter 4 October - December 2013
Quarter 3 July - September 2013
Quarter 2 April - June 2013
Quarter 1 January - March 2013
Quarter 4 October - December 2012
Quarter 3 July - September 2012
Quarter 2 April - June 2012
Quarter 1 January - March 2012
Quarter 4 October - December 2011
Quarter 3 July - September 2011
Quarter 2 April - June 2011
Quarter 1 January - March 2011
Quarter 4 October - December 2010
Quarter 3 July - September 2010
Quarter 2 April - June 2010
Quarter 1 January - March 2010
Quarter 4 October - December 2009
Quarter 3 July - September 2009
Quarter 2 April - June 2009
Quarter 1 January - March 2009
Quarter 4 October - December 2008
Quarter 3 July - September 2008
Quarter 2 April - June 2008
Quarter 1 January - March 2008
Quarter 2 April - June 2007
Quarter 2 April - June 2006
Quarter 2 April - June 2004
Quarter 1 January - March 2004
Quarter 4 October - December 2003
Quarter 3 July - September 2003
Quarter 2 April - June 2003
Quarter 1 January - March 2003
Quarter 4 October - December 2002
Quarter 3 July - September 2002
Quarter 2 April - June 2002
Quarter 1 January - March 2002
Quarter 4 October - December 2001
Quarter 3 July - September 2001
Quarter 2 April - June 2001
Quarter 2 of 2018
Articles
Touch Payroll (STP)
‘Calm before the storm’: Government proposes 12-month SG amnesty
Government intensifies cash payments crackdown - Kelly O'Dwyer
Passive investment companies tax rate still 30%
Cryptocurrency audits tipped to increase this EOFY
Australia by numbers – Update
$2.4m lost to tax scams, ACCC reports
No GST on digital currency
Federal Budget 2018 - Overview
Your Budget
4 components of our 2018 Federal Budget
Resources to help understand and implement Single Touch Payroll (STP)
New rules capture SMSFs trading big with cryptocurrency
New passive income test for lower corporate tax rate
Tools to help you manage your financial position are available on our site.
‘A simple mistake can attract our attention’: ATO reminder about FBT slips-ups
Australia by numbers – Update
Beware residency rules if moving overseas
Meaningful tax reform in high demand
Working holidaymakers and tax returns
Single Touch Payroll – 1 April 2018 Action
Property investors on notice after ATO spots false claims
ATO issues update on cryptocurrency compliance traps
Australia's vital statistics
Accountants spy elder abuse spike as mortgage stress sets in
Tax office releases fresh guidance on SMSFs
Labor's tax plans could favour the rich, analysis shows
FBT Reminder – Odometer Reading

Deprecated: Function split() is deprecated in /home/sowacctw/public_html/articles/sow_server_v3.php on line 268

Deprecated: Function ereg_replace() is deprecated in /home/sowacctw/public_html/articles/sow_server_v3.php on line 276

Deprecated: Function ereg_replace() is deprecated in /home/sowacctw/public_html/articles/sow_server_v3.php on line 277

Deprecated: Function ereg_replace() is deprecated in /home/sowacctw/public_html/articles/sow_server_v3.php on line 276

Deprecated: Function ereg_replace() is deprecated in /home/sowacctw/public_html/articles/sow_server_v3.php on line 277

Deprecated: Function ereg_replace() is deprecated in /home/sowacctw/public_html/articles/sow_server_v3.php on line 276

Deprecated: Function ereg_replace() is deprecated in /home/sowacctw/public_html/articles/sow_server_v3.php on line 277

Deprecated: Function ereg_replace() is deprecated in /home/sowacctw/public_html/articles/sow_server_v3.php on line 276

Deprecated: Function ereg_replace() is deprecated in /home/sowacctw/public_html/articles/sow_server_v3.php on line 277

Deprecated: Function ereg_replace() is deprecated in /home/sowacctw/public_html/articles/sow_server_v3.php on line 276

Deprecated: Function ereg_replace() is deprecated in /home/sowacctw/public_html/articles/sow_server_v3.php on line 277

Deprecated: Function ereg_replace() is deprecated in /home/sowacctw/public_html/articles/sow_server_v3.php on line 276

Deprecated: Function ereg_replace() is deprecated in /home/sowacctw/public_html/articles/sow_server_v3.php on line 277

Deprecated: Function ereg_replace() is deprecated in /home/sowacctw/public_html/articles/sow_server_v3.php on line 276

Deprecated: Function ereg_replace() is deprecated in /home/sowacctw/public_html/articles/sow_server_v3.php on line 277

Deprecated: Function ereg_replace() is deprecated in /home/sowacctw/public_html/articles/sow_server_v3.php on line 276

Deprecated: Function ereg_replace() is deprecated in /home/sowacctw/public_html/articles/sow_server_v3.php on line 277

Deprecated: Function ereg_replace() is deprecated in /home/sowacctw/public_html/articles/sow_server_v3.php on line 276

Deprecated: Function ereg_replace() is deprecated in /home/sowacctw/public_html/articles/sow_server_v3.php on line 277

Deprecated: Function ereg_replace() is deprecated in /home/sowacctw/public_html/articles/sow_server_v3.php on line 276

Deprecated: Function ereg_replace() is deprecated in /home/sowacctw/public_html/articles/sow_server_v3.php on line 277

Deprecated: Function ereg_replace() is deprecated in /home/sowacctw/public_html/articles/sow_server_v3.php on line 276

Deprecated: Function ereg_replace() is deprecated in /home/sowacctw/public_html/articles/sow_server_v3.php on line 277

Deprecated: Function ereg_replace() is deprecated in /home/sowacctw/public_html/articles/sow_server_v3.php on line 276

Deprecated: Function ereg_replace() is deprecated in /home/sowacctw/public_html/articles/sow_server_v3.php on line 277

Deprecated: Function ereg_replace() is deprecated in /home/sowacctw/public_html/articles/sow_server_v3.php on line 276

Deprecated: Function ereg_replace() is deprecated in /home/sowacctw/public_html/articles/sow_server_v3.php on line 277

Deprecated: Function ereg_replace() is deprecated in /home/sowacctw/public_html/articles/sow_server_v3.php on line 276

Deprecated: Function ereg_replace() is deprecated in /home/sowacctw/public_html/articles/sow_server_v3.php on line 277

Deprecated: Function ereg_replace() is deprecated in /home/sowacctw/public_html/articles/sow_server_v3.php on line 276

Deprecated: Function ereg_replace() is deprecated in /home/sowacctw/public_html/articles/sow_server_v3.php on line 277

Deprecated: Function ereg_replace() is deprecated in /home/sowacctw/public_html/articles/sow_server_v3.php on line 276

Deprecated: Function ereg_replace() is deprecated in /home/sowacctw/public_html/articles/sow_server_v3.php on line 277

Deprecated: Function ereg_replace() is deprecated in /home/sowacctw/public_html/articles/sow_server_v3.php on line 276

Deprecated: Function ereg_replace() is deprecated in /home/sowacctw/public_html/articles/sow_server_v3.php on line 277

Deprecated: Function ereg_replace() is deprecated in /home/sowacctw/public_html/articles/sow_server_v3.php on line 276

Deprecated: Function ereg_replace() is deprecated in /home/sowacctw/public_html/articles/sow_server_v3.php on line 277

Deprecated: Function ereg_replace() is deprecated in /home/sowacctw/public_html/articles/sow_server_v3.php on line 276

Deprecated: Function ereg_replace() is deprecated in /home/sowacctw/public_html/articles/sow_server_v3.php on line 277

Deprecated: Function ereg_replace() is deprecated in /home/sowacctw/public_html/articles/sow_server_v3.php on line 276

Deprecated: Function ereg_replace() is deprecated in /home/sowacctw/public_html/articles/sow_server_v3.php on line 277

Deprecated: Function ereg_replace() is deprecated in /home/sowacctw/public_html/articles/sow_server_v3.php on line 276

Deprecated: Function ereg_replace() is deprecated in /home/sowacctw/public_html/articles/sow_server_v3.php on line 277

Deprecated: Function ereg_replace() is deprecated in /home/sowacctw/public_html/articles/sow_server_v3.php on line 276

Deprecated: Function ereg_replace() is deprecated in /home/sowacctw/public_html/articles/sow_server_v3.php on line 277
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