Following extensive advocacy from R&CA, working holiday makers (WHM) will now be taxed at 15 per cent from the first dollar earned instead of the 32.5 per cent originally proposed by the Australian Government. After extensive negotiation with the major parties and the Senate, the following has been passed:
R&CA has welcomed the end of the uncertainty, but has highlighted the need to reinforce positive messaging about Australia as a great place to work and travel here.
In order to be able to apply to 15 per cent tax rate, businesses must register with the Australian Tax Office here.
Further information on the change can be found here.
Please note: The ATO expects to have updated tax tables for working holiday makers available on their website by the beginning of next week.