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NOT A WORKING HOLIDAY VISA HOLDER? BUT YOU ARE WORKING IN AUSTRALIA? THEN THIS IS WHAT YOU MUST DO

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13
Jun

Are you working as a backpacker, without any working holiday visa? Then you should know that, if you don’t have this visa, you are going to be taxed at 47% on all wages received. It will be good for you to get the visa as soon as possible, for nobody wants to be taxed at such a high rate. Get your TFN by applying online or through your tax agent. And if you are self-employed then make sure you have your ABN with you along with your TFN. Not only that, if you do sign the Employee Declaration form provided by your employer then the employer is liable to deduct tax at non-resident rates i.e. 32.5%.

The Australian fiscal year runs from July 1st to June 30th of the subsequent year. After the end of June 30th each backpacker must lodge their tax return. But if you are leaving Australia before the end of June 30th then you can still lodge your tax return by applying using a tax return form. When completing the return, it should be noted that the deductible expenses available to Australian employees are more generous than for many overseas countries. A backpacker cannot claim the cost of his living expenses in Australia as a living-away-from-home deduction or allowance. As a taxpayer, you can claim up to $300 in work-related expenses before you will be required to provide receipts to the Tax Office if audited.


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