Hot Issues
spacer
Fringe Benefits Tax (FBT): employees’ private use of vehicles
spacer
ATO to contact clients over bank details
spacer
ATO claws back $850m in unpaid SG in FY 17-18
spacer
Appetite for property in SMSFs shows signs of life despite tough market
spacer
Superannuation gender gap narrowing, research shows
spacer
Identification numbers for directors
spacer
How financial advice helps create wealth.
spacer
Australia's vital statistics
spacer
Unlocking equity crowdfunding in Australia
spacer
$20m boost for SME clients looking to exporting
spacer
Work-Related Expenses
spacer
ATO updates crypto guidance
spacer
ATO zones in on hundreds of newly created reserves
spacer
Senate passes $20,000 instant asset write-off extension
spacer
Victorian Vacant Property Tax
spacer
Director Penalty Notices
spacer
ATO set to pounce on undisclosed income streams
spacer
In case you missed it – The company tax Bill that did pass Parliament.
spacer
GST spotlight headed to smaller end of town
spacer
Superannuation Amnesty – Maybe! Maybe Not!
spacer
ATO drills in car-sharing focus this tax time
spacer
What is Bankruptcy?
spacer
Update of Australia's vital statistics
spacer
ATO speaks on risk factors, surveillance triggers for FY19
spacer
ATO’s corporate residency guidance cops backlash
spacer
ATO dispels top tax time myths to clients as clampdown rolls out
spacer
Tools for budgeting, cash flow, Super and more ….
spacer
Guidance for SMSFs on transfer balance reporting
Article archive
spacer
Quarter 3 July - September 2018
spacer
Quarter 2 April - June 2018
spacer
Quarter 1 January - March 2018
spacer
Quarter 4 October - December 2017
spacer
Quarter 3 July - September 2017
spacer
Quarter 2 April - June 2017
spacer
Quarter 1 January - March 2017
spacer
Quarter 4 October - December 2016
spacer
Quarter 3 July - September 2016
spacer
Quarter 2 April - June 2016
spacer
Quarter 1 January - March 2016
spacer
Quarter 4 October - December 2015
spacer
Quarter 3 July - September 2015
spacer
Quarter 2 April - June 2015
spacer
Quarter 1 January - March 2015
spacer
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