Tax, Superannuation and Visa fee
- The Turnbull Government is reducing the tax rate for all Working Holiday Makers from current 32.5% to 19% for earnings up to $37,000, provided your employer is registered with the ATO.
- As a result of this change to the tax rate, you will however have to forfeit 95% of your superannuation at the time of departing Australia.
- The government is also cutting the Working Holiday Maker Visa fee from the current fee of $440 to $390.
The above changes are significant leaving the visa holders with more savings than before, thus attracting more applicants.
Effective 1st January 2017, the Working Holiday Makers will be allowed to work for an additional six months with one employer in Northern Australia provided they work in the following areas:
- Agriculture, forestry and fishing
- Tourism and hospitality
- Mining and construction
- Disability and aged care
There is further good news for 462 visa holders as they will be able to apply for second 12 month visa similar to 417 visa holders.
The current age limit is 18 to 31 to be eligible for Working Holiday Maker visas. The Government has increased the age limit from 31 to 35 effective 1st January 2017.