Working Holiday Visa (Subclass 417), which tax code should I choose for this employee?

Zheng
Zheng Member Posts: 18 Reckoner Reckoner
edited October 23 in Accounts Hosted

We have an employee who is holding a Working Holiday Visa (Subclass 417), which tax code should I choose for this employee?

Best Answer

  • Acctd4
    Acctd4 Accredited Partner Posts: 3,811 Reckon Accounts Hosted Elite Expert Reckon Accounts Hosted Expert
    edited October 23 Answer ✓

    @Zheng Providing you are a registered WHM employer, the correct code is 8-No TaxC & the applicable percentage should be entered in to the Tax % box:

    These are the ATO's current tax rates for WHMs:

    Working holiday makers income tax rates

    Taxable income

    Tax rate

    Value (a)

    $0 – $45,000

    15% on each $1 up to $45,000

    0.15

    $45,001 – $135,000

    30% on each $1 over $45,000 to $135,000

    0.30

    $135,001 – $190,000

    37% on each $1 over $135,000 to $190,000

    0.37

    $190,001 & over

    45% on each $1 over $190,000

    0.45

    Under the Company dropdown menu > Company Information, you should also ensure this checkbox is ticked, in order for your STP submissions to include your eligible employer status:

    Shaz Hughes Dip(Fin) ACQ NSW, MICB

    *** Reckon Accredited Partner (AP) Bookkeeper - specialising EXCLUSIVELY in Reckon Accounts / Hosted ! ***

    * Regd BAS Agent (No: 92314 015)* ICB-Certified Bookkeeper* Snr Seasonal Tax Consultant since 2003 *

    Accounted 4 Bookkeeping Services

    Ballajura, WA

    shaz@accounted4.com.au

    https://accounted4.com.au

    (NB: Please give my post a Like or mark as Accepted Answer if I have been able to resolve your query as this helps others when seeking solutions!)

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