Tax Blog

Hired a backpacker?

If you employ backpackers who are in Australia on a 417 or 462 working holiday visa there are some things you’ll need to do following the tax rate changes that started on 1 January 2017. Hired a working holiday maker before 1 January 2017? You’ll need to issue two payment summaries for any working holiday maker you emp…

On 1 January 2017, tax rates changed for working holiday makers who are in Australia on a 417 or 462 visa. What does this mean for you? If you employ a working holiday maker on a 417 or 462 visa: You must register with us so you can withhold the correct amount tax. You should withhold 15% from every dollar earned up to…

The Australian Tax Office is encouraging anyone who employs a backpacker to register by the January 31 deadline so they can apply the new 15 per cent tax rate. From January 1, the working holiday maker tax rate, also known as the backpacker tax, of 15 per cent is applied from the first dollar earned to any workers with…

Changes to the ‘backpacker tax’

18 January 2017 This article has been updated. On 1 January 2017, tax rates changed for working holiday makers who are in Australia on a 417 or 462 visa. What does this mean for you? If you currently employ a working holiday maker on a 417 or 462 visa: You must register with us by 31 January 2017 so you can withhold th…

How can I tax refund 2015 ?

You can use the Good Tax Refund tax return calculator and get an accurate estimate of your 2014-2015 tax refund. Other calculators out there will miscalculate your tax situation. They’ll leave you with a refund estimate far from the actual amount. How To Use the E-Lodge Tax Return Calculator Only a few steps  are invol…

Australian Tax Rates 2015-2016

It’s about time to lodge your tax for the 2014-2015 financial year. Why not get ahead of the game and see what to expect for next year? There are several projected tax rate changes for the 2015-2016 tax year.   Australian tax rates for residents For residents of Australia, there are a few updates to the tax scale: tax…

Australian Taxation Office Audit

Everyone who running the business try to avoid the taxation Audit. The best scenario is the paying the minimum tax under the taxation law boundaries. Some taxpayer tightrope act in the border between tax avoidance and evasion dislike the Audit of ATO. In fact, the Australian tax administrations fairly trust the taxpaye…

Zone offset

If you are a high income earner, you have to pay for the higher tax. However, there are legal approaches to reduce your liability to pay taxes or increase refundable amount. Firstly, you can apply deductions on the work-related expenses against your income. You will not receive the amount back but it will reduce your t…

GST Reporting

Business entities report and pay GST amounts to ATO, and claim GST credits, by lodging a business activity statement (BAS) or an annual GST return. ATO issue entity’s activity statement about two weeks before the end of your reporting period, which for GST is usually every three months. The date for lodging and paying…