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Work and Travel Company

Tax and Superannuation

Tax

 

The rate of tax for working holiday visa holders is 15% on the first $37,000 net income earned. Any income earned thereafter will be taxed at the normal rate of 32.5%. Please see this link to the Australian Tax Office website for more useful information: https://www.ato.gov.au/Individuals/International-tax-for-individuals/Coming-to-Australia/Working-holiday-makers/

 

To check your individual tax situation and get help to work out whether you need to do a tax return before you leave Australia, please go to the ATO website here – then select the year you have worked and follow the relevant instructions.

 

This page gives you lots of useful information about tax rates, what do when you have finished working and lodging a tax return.

 

To speak to the Tax Office about your tax situation call: 13 28 61

 

Tax File Number (TFN)

 

To work in Australia a legal requirement is a Tax File Number. Upon arriving in Australia and attending your WTC orientation, we will take a photocopy of your passport. With this photocopy WTC staff will apply for your tax file number. This is why it is important to bring your passport to your orientation.

 

Once we have applied for your TFN it usually takes up to 4 weeks to arrive at WTC in your postbox. Once it has arrived at WTC we will email you your TFN, which you can give to your employer immediately.

 

You are allowed to work in Australia for up to four weeks without a TFN (which is the time it takes to receive one), just make sure that you let your employer know that you have applied for your TFN. After this four week period, if you haven’t given your employer your TFN, you can be charged up to 49% in tax!  Don’t forget!

 

Superannuation (Super)

 

Your employer must pay 10.5% on top of your wage into a superannuation fund. Your employer will generally open an account up on your behalf. It would be a great idea to ask your employer which superannuation company they use and what your membership number is so that you have the relevant information to claim this money back after your visa has expired.

 

Claiming back superannuation

 

Superannuation (‘Super’) is separate to individual tax and the details on how to claim this back are below.

 

Super is an additional 10.5% paid in addition to your wages.

 

To claim back super you will need to know all the super fund/s where money has been paid for you (see below how you can find them). Super contributions are usually paid by employers on a quarterly basis so ensure that all your funds have been paid before you try and withdraw the money. To claim back your superannuation, you must have left Australia and not be returning to work. Your visa must have expired or been cancelled (more details below) before you can make a claim to get your superannuation returned.

 

Finding your Superannuation Funds

 

Before you leave Australia, make sure that you know the name/s of your super fund/s and your membership number of each. If you do not have your membership number, call the super fund and they will be able to provide it to you over the phone. I can’t see or access your super accounts but you can locate any unclaimed superannuation under your name by using this link here.

 

Work & Travel Company will open a fund for you with Australian Retirement Trust (https://https://www.australianretirementtrust.com.au) and pay your superannuation into this account (if eligible – and if you have not provided your preferred / another super fund in time).

 

To get your Member Number, you will have to call Australian Retirement Trust directly:

 

In Australia – 131184

 

International – +61 7 3333 7400
 
Note: If you have other super funds under your name then you will have to contact that fund directly. You can use a Google search to locate other Super funds and their contact details.

 

Departing Australia Superannuation Payment (DASP) – lodge via the Australia Taxation Office

 

See this link here on the ATO website for information about how to claim your Super back once you have left Australia.
Click on the link on the left hand side menu titled “DASP for working holiday makers”.
You can complete this claim for Super online here

 

Please note the following important information:-

 

Online applications will be verified with the Department of Home Affairs (Home Affairs). Home Affairs will verify your immigration and visa status and provide us with your visa information where required.

You can only submit a DASP application when you have left Australia and do not hold an active visa. However, we recommend you start your DASP application while you are still in Australia and have all the relevant information handy.

Take note of the information you enter when you commence your online application. You will need the same details to resume your saved application after you leave Australia.

Where the value of your super money is $5,000 or more, your super fund will require certified copies of your proof of identification documents.

It is much easier to certify documents while you are in Australia. There are specific rules of who can certify documents so we recommend you do this before you leave. Check with your super fund to confirm what documentation is required.
 

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