WORKING holidays in Australia are set to become a lot less attractive, with plans to jack up the tax rate for backpackers who want to work their way around the country.
Under changes flagged in the Federal Budget, overseas visitors who embark on a working holiday down under will be taxed at 32.5 cents from the first dollar they earn.
At the moment, those on working holiday visas pay 19 cents in the dollar on taxable income above the tax-free threshold (of $18,500).
It means someone earning up to $37,000 on a working holiday will pay around $12,000 in tax instead of $3500.
The measure will take effect from July 2016 [...]
Source: news.com.au
Under changes flagged in the Federal Budget, overseas visitors who embark on a working holiday down under will be taxed at 32.5 cents from the first dollar they earn.
At the moment, those on working holiday visas pay 19 cents in the dollar on taxable income above the tax-free threshold (of $18,500).
It means someone earning up to $37,000 on a working holiday will pay around $12,000 in tax instead of $3500.
The measure will take effect from July 2016 [...]
Source: news.com.au
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