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Working Holiday 417 Tax threshold

Newbie

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Replies 3

Hi There,

 

A Question re the Working Holiday Visa (417).

 

I can't find anywhere on the net information on whether the $37,000 15% tax threshold resets at the end of the financial year.

 

Example: I arrived in Australia in November 2018 on WHV 417. I earnt over the $37,000 threshold and therefore started to pay 32.5% tax. I want to know if my tax will go back down to 15% due to the fact we have now just started a new tax year or whether I have to pay the 32.5% tax for the remainder of my time on the 417 Visa.

 

Many thanks

Charlie

 

 

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ATO Certified

Community Support

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Hi @chazzawood,

 

Welcome to our Community.

 

As @macfanboy advised the financial year will reset to the 15% for working holiday makers.

 

As a working holiday maker you are required to lodge a tax return if your taxable income was more than $37,000 for the year, or you carried on a business.

 

When you lodge your income tax return we will work out the total tax payable based on the information you provide, your notice of assessment will advise if there is an amount to pay or a refund due.


You can refer to our income tax estimator and the working holiday maker tax tables on our website for more information.


If you have further questions, phone us on 13 28 61 between 8am - 6pm, Monday to Friday to speak to a customer service representative.
 
I hope this helps you, SueO

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Taxicorn

Replies 2

It is by financial year so yes it will go back to 15%.

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Newbie

Replies 1

Thanks Macfanboy!

 

Can you also let me know if I would need to file a tax return for the amount earned over $37,000 and whether I may expect to receive anything back if I process a tax return (on the amount over $37,000).

 

Thanks

Charlie

Highlighted

Best answer

ATO Certified

Community Support

Replies 0

Hi @chazzawood,

 

Welcome to our Community.

 

As @macfanboy advised the financial year will reset to the 15% for working holiday makers.

 

As a working holiday maker you are required to lodge a tax return if your taxable income was more than $37,000 for the year, or you carried on a business.

 

When you lodge your income tax return we will work out the total tax payable based on the information you provide, your notice of assessment will advise if there is an amount to pay or a refund due.


You can refer to our income tax estimator and the working holiday maker tax tables on our website for more information.


If you have further questions, phone us on 13 28 61 between 8am - 6pm, Monday to Friday to speak to a customer service representative.
 
I hope this helps you, SueO