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'Backpacker tax' to be imposed
Backpackers who travel to Australia and take up jobs will be hit by a 15 per cent tax in 2017.
Backpackers who travel to Australia and take up jobs will be hit by a 15 per cent tax in 2017.
Currently, visitors are taxed at the same rate as residents, however the federal government will be imposing a flat tax on backpackers, without a tax-free component, to try and raise revenue from visitors.
Superannuation takes effect on July 1st 2017, and for backpackers leaving the country and claiming superannuation from July, they stand to lose 65% in tax.
Terry Murphy, Director of TaxAssist Accountants said: “There are, of course, many other issues to be taken into consideration, such as visas and age limits, and penalties will be applicable if tax isn’t paid.
“This is a complex area that requires professional advice and guidance.”
Date published 15 Dec 2016 | Last updated 14 Dec 2016
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