Special Tax Situations
Working holiday makers, instant asset write-off, and more
Working Holiday Makers
Different tax rates for 417 and 462 visa holders
Working Holiday Maker Tax Rates
If you're on a 417 or 462 visa, you pay a flat 15% on the first $45,000, then normal rates above that. No tax-free threshold applies.
Example
Earn $30,000 on a working holiday visa — tax = $4,500 (15% flat). An Australian resident earning $30,000 would pay $1,888.
Departing Australia Super
When you permanently leave Australia, you can claim your super back (minus tax). The ATO withholds 65% for working holiday makers (35% for temporary residents).
Example
Super balance of $5,000 as a WHM — you get $1,750 after 65% tax. Apply through myGov or the DASP form.
Instant Asset Write-Off
Immediately deduct business assets under the threshold
$20,000 Instant Asset Write-Off
Small businesses (under $10M turnover) can immediately deduct the full cost of eligible assets costing less than $20,000 each, instead of depreciating them over years.
Example
Buy a $15,000 work vehicle for your sole trader business — deduct the full $15,000 this financial year.
What's Eligible
Most tangible business assets: tools, equipment, vehicles, computers, furniture. The asset must be first used or installed ready for use in the relevant income year.
Example
Laptop ($2,000), desk ($800), printer ($400) — each is under $20,000, so deduct all three in full this year.