WHV sole trader tax info

[#1]

Hello there,

I am on a working holiday visa, and have worked as a sole trader with an ABN throughout my stay here in Australia so far, except for when I completed my farmwork to extend my visa.

I was wondering if it is possible for those on a working holiday to still setup a payment plan to pay their tax as a sole trader? I have earnt less than the $37000 first threshold for the 2018-2019 tax year, so as I understand it I should be taxed 15%? Is this also correct?

I have had to use money I saved for my tax for an emergency flight back to the UK for a family event so I am concerned about not being able to pay my tax in a lump sum, especially if I end up being taxed more than 15%. I've read that Aussie citizen sole traders can setup a payment plan, but I wanted to check if those on a working holiday visa who have been working as a sole trader are also able to do this.

Many thanks in advance to anyone who can advise me here!

Sophie

[#2 · Accepted solution]

Hi @animatingsophie,

Yes, if you have earned under $37,000 you should only be taxed at 15% if you are on a working holiday visa.

Payment plans are available to use to pay off any debts if you meet the criteria listed on the page I linked. You don't just have to be an Australian citizen to use them, they are available to all.

Hope this helps! Thanks, NateH

[#3]

Thank you very much! This was really helpful

Sophie