If you are employing Working Holiday Makers (Visa Sub-Class 417 and 462), you should be aware of new reduced tax withholding rates that are applicable from 1 January 2017. Where an employer does not register with the ATO by 31 January 2017, employees will not be eligible for the reduced rates and will be taxed at 32.5%. In addition, you may be subject to penalties for failing to register.
Please refer to the attached link for more in depth discussions on the above:
Please contact Andrew Marshall or Janine Orpwood at Langley McKimmie Chartered Accountants on (03) 5427 8100 to discuss further.
We provide accounting and wealth management services to clients in Woodend, Gisborne and Macedon Ranges areas within Victoria Australia.