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Official news from down under is that final government legislation has decreased backpacker tax rates. This is great news! But what exactly does this mean for you? Read more below to find out.
It means that Australian working holidays are generally the most profitable when compared to other working holiday visa. See below for an update on changes that are due to be put in place.
From January 1st 2017, the Australian Working Holidaymaker backpacker tax will be 15% on earnings up to $37,000 AU. This has been decreased from a proposed 32.5% - this means you’ll see more $$ in your wage packet – win! Additionally backpackers will no longer be eligible to be classed as residents for tax purposes, no matter how long you stay in any one location. The tax on working holiday makers’ superannuation when you leave Australia will also be increased to 65%. Why the changes?
Australian government have introduced new measures to make a working holiday more affordable and also more available, additional changes include:
With the amendments to legislation in place to change how backpackers are taxed, Australia still remains the highest minimum wage for backpackers, coming in at AU $22.13 per hour – chi-ching! With all of the positive changes to the Australia working holiday visa, and the land down under housing 3 of the top 10 most liveable cities in the world – what’s stopping you? That working holiday visa to Oz has your name on it so it's time to get yours and have a wander down under on our Work Australia programme!