Hi, i am an employer and im registered for employing Persons on 417 visa (Holiday Maker Tax) they have only earned 21k with my company but says they are over the 45k threshold from other works.
as i am registered is it me that supposed to amend their tax or does it automatically get register within my accounting software.
Thx
I think you should ask your accounting software provider
Hi @RCMBuild,
Continuing on from what @YellowPotato has provided, yes - as the employer, you’ll be responsible for correcting this on your end before the employee's annual income statement is finalised.
As a registered employer of working holiday makers, you're responsible for withholding the correct amount of tax from payments you make to your employees on 417 visas. The withholding isn't automatically adjusted by your accounting software based on their total income from all employers.
If your employee tells you they've exceeded $45,000 in total payments from all employers combined (including your company and other work), you need to withhold at 30% on each dollar over $45,000 that you pay them.
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