**BACKPACKERS TAX RATE CHANGES WILL AFFECT TAX REFUNDS*
Did you know that the longer you work after 1 January 2017, the more tax you will pay?
Backpackers who have worked during the period 1 July 2016 to 31st December 2016 should stop working NOW!
So what does this mean for you?
You will be eating into your tax refund the more you work.
The changes which everyone is talking about are that the tax rate from 1 January 2017 is 15%. But there is another change, which is affecting most backpackers and no one is talking about. As you earn income up to 1st January 2017 that income reduces the tax threshold you were entitled to up to 31st December 2016. It is a retrospective tax change.
STOP WORKING NOW!
You will be creating a tax liability which will be payable by you before or after you leave the country.
Do you want to keep working???
No should be the answer
Please contact us with any enquiries and calculations you may have!
We will keep you posted of any further updates.
If you have any further enquiries please contact Yulia.
Phone: 1300 551 412
Email: [email protected]