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Backpacker Tax 15% ATO Deadline – 31st January

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Contact us at Knox Taxation & Business Advisory on 9762 7344  … 

If you feel this might apply to you, but you haven’t done anything about it yet!

The ATO has put the word out to all current Backpacker Employers (or employers of working holiday makers) that the new tax rate of 15% became effective as of the 1st January, 2017.  If you are an Australian-based employer in this area (of employees with 417 and 464 Visas), the deadline for registration of your employer status is 31st January, 2017.

At Knox Tax, we’ve already personally contacted most of our clients to warn them, but if we have been unable to reach you, then we’d love to hear from you so we can inform you of further details regarding this important change to Australian Tax Laws.

There are some other points to note in addressing these changes, including:

  1. Do your employees from overseas hold the correct Visas – as applicable to working in Australia and the new tax rate?  You (or those employees) can easily check on this by accessing the Visa Entitlement Verification Online Service, via the Department of Immigration & Border Protection website…  and
  2. Have you, as a Backpacker Employer, already applied the new 15% tax rate to every dollar your employees have earned from 1st January, 2017?

Further, if you intend to employ Backpackers at a later time (like not right now, but further into the year), don’t worry!  We’ll be here with all the right advice at Knox Taxation & Business Advisory – both when the time comes, and keep you posted on any other pertinent compliance information.

Talk to us today, also, if you find any of your Backpacker Employees don’t hold the relevant visas.  We’ll source the answers and make them available to you, to ensure you’re covered with the ATO’s new Withholding Tax Provisions.

(The information above has been sourced from the ATO Website Media Release, 23rd January, 2017)

Our team of expert Accountants is always on hand to be of service at Knox Tax.

 

Kind Regards,

Coral Page – Principal

 

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