If you work in Australia, tax will be withheld from your pay and you’ll be obligated to lodge a tax return each year.

The Australian income year starts 1 July and ends on 30 June the following year.

From 1 January 2017 – as a working holiday maker – the first $37,000 of your income is taxed at 15%, with the balance taxed at ordinary rates.

You are a working holiday maker if you have a visa subclass:

• 417 (Working Holiday)
• 462 (Work and Holiday).

You can check your visa status using the Visa Entitlement Verification Online serviceExternal Link.

When you lodge a tax return, we will work out how much tax you should have paid. If you paid too much, we will give you a refund. If you have not paid enough, we will send you a bill.

As a working holiday maker your employer also has to pay super for you if you are eligible. When you leave Australia you can apply to have your super paid to you as a Departing Australia Superannuation Payment (DASP). The tax on any DASP made to working holiday makers on or after 1 July 2017 is 65%.

https://www.ato.gov.au/Individuals/Super/Super-changes/

 

Financial statements are prepared according to agreed upon guidelines. In order to understand these guidelines, it helps to understand the objectives of financial reporting. The objectives of financial reporting, as discussed in the Financial Accounting standards Board (FASB) Statement of Financial Accounting Concepts No. 1, are to provide information that

Value Added Tax (VAT) is a tax on consumption levied in the United Kingdom by the National Government. It was introduced in 1973 and is the third largest source of government revenue after Income Tax and National Insurance. It is administered and collected by HM revenue and customs, primarily through the Value Added Tax Act 1994. VAT is levied on most goods and services provided by registered businesses in the UK and some goods and services imported from outside the European Union.

Financial statements are prepared according to agreed upon guidelines. In order to understand these guidelines, it helps to understand the objectives of financial reporting. The objectives of financial reporting, as discussed in the Financial Accounting standards Board (FASB) Statement of Financial Accounting Concepts No. 1, are to provide information that

Financial statements are prepared according to agreed upon guidelines. In order to understand these guidelines, it helps to understand the objectives of financial reporting. The objectives of financial reporting, as discussed in the Financial Accounting standards Board (FASB) Statement of Financial Accounting Concepts No. 1, are to provide information that