The current Australian government has received further support from the Australian Greens to Lower Working Holiday Maker tax from the current 32.5 per cent for every dollar earned to 15 per cent for 417 and 462 visa holders, consistent with the rate applicable to visa holders under the Seasonal Workers Program, consistent with the rate applicable to visa holders under the Seasonal Workers Program.
If passed through, the changes are likely to come into effect from July 2017.
These improvements in the tax rate will ensure that the Australian regional industry sectors such as Agriculture as well as Hospitality and Tourism are not adversely affected as employers can now offer a competitive tax rate for Working Holiday Makers that does not compromise other important visa classes under the Seasonal Workers Program.
The greens will further support the Australian Government in introducing amendments the superannuation payments for those holding 417 and 462 visas.
From July 1, 2017, the Departing Australia Superannuation Payment (DASP) tax rate will be 65 per cent compared to the current 47 per cent rate.
These changes are set to contribute $560 million dollars to the current budget of which $100 million dollars will be used to contribute to the National Landcare Program- looking after Australia’s Natural Resources.