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Abn+working holiday visa

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Newbie

Views 730

Replies 6

Hi, hoping you can help me. I have a few questions.

A) If you are in Australia on a working holiday visa (subclass 417) for one year can you get an ABN?

B)With my visa I am only allowed to work for a company for 6 months is it the same with ABN since I’m providing a service ?

C)If I stop the ABN after 6 months because I go and work for someone or I leave the country when do I put the forms in for the tax? Does it have to be June or can it be done before?

D)What percentage am I going to be taxed? 10%, 15% etc?

Many Thanks
1 ACCEPTED SOLUTION

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Best answer

ATO Certified

Community Manager

Replies 5

Hi @Phil2,

 

Welcome to our Community!

 

A) Yes, if you are on a working holiday visa you can apply for an ABN

B) You would need to discuss this with the Department of Home Affairs as they manage the visa system

C) Depending on your exact circumstances you may be able to lodge your return early. Have a look at the criteria listed on the linked page

D) As a working holiday maker the first $37,000 of your income is taxed at 15% and the balance is taxed at ordinary rates

 

Hope this helps! Thanks, NateH

6 REPLIES 6
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Best answer

ATO Certified

Community Manager

Replies 5

Hi @Phil2,

 

Welcome to our Community!

 

A) Yes, if you are on a working holiday visa you can apply for an ABN

B) You would need to discuss this with the Department of Home Affairs as they manage the visa system

C) Depending on your exact circumstances you may be able to lodge your return early. Have a look at the criteria listed on the linked page

D) As a working holiday maker the first $37,000 of your income is taxed at 15% and the balance is taxed at ordinary rates

 

Hope this helps! Thanks, NateH

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Newbie

Replies 4

Hey 😊
Thank you very much for your reply it was very helpful!

Kind Regards
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Newbie

Replies 3

Hi guys just a little bit of a follow up.

I have now stopped working with my ABN. I am about to start two jobs , working for someone/company.

What should I do with my ABN? Shall I cancel it? Is it possible to do that and then pay the taxes in June? Or should I keep it even tho I’m not self employed anymore?does it matter to have it and not use it?

If my second job is not registered as working holiday maker am I gonna be taxed at 37% on that one?

Ps. I ended up getting to the bottom of my “6month question” relating to the visa and work. it might be helpful for someone else. On a working holiday visa , regardless if you are employed by someone or self employed(abn) you can only work/provide services for that company/person for 6 months. There’s a few exceptions( if they have another business in a different location etc) but that’s the bottom line.

Thank you 😊
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Community Manager

Replies 2

 

Hi @Phil2,

 

Check out the information on cancelling your ABN.

 

The first $37,000 that you earn is taxed at 15% and the rest at ordinary tax rates.

So it depends on your income for the year.

 

Thanks

 

KylieS

 

 

 

 

 

 

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Newbie

Replies 1

Hi thanks for that.

I’ve just cancelled my abn , I’m trying to get the tax return forms to pay for my tax before June. I was told that I could do this before leaving the country. What forms should I get and is there a link where I can download them from ? Thank you.
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Community Manager

Replies 0

Hi @Phil2,

 

We have a webpage which has all the information you need for lodging your tax return early.

 

Let us know if you have any troubles!

 

Thanks, NateH