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Tax Changes in Australia

Tax changes in Australia
Tax Changes affecting working people in Australia

Recent tax changes affecting overseas workers in Australia,  up until 2024:
Working Holiday Maker Changes
The significant change was the elimination of the 'backpacker tax.' Now, Working Holiday Makers (WHM) are treated as resident taxpayers if they meet residency criteria, potentially giving them access to:

Tax-free threshold ($18,200)
Progressive tax rates like other residents
Lower tax rates compared to the previous flat 15% rate

Superannuation Access
Recent changes to superannuation rules mean temporary residents can now:

Access their super after leaving Australia
Claim through the Departing Australia Superannuation Payment (DASP)
Expect different tax rates on withdrawal depending on visa type

Tax Residency Tests
The Australian government has simplified tax residency rules with:

A primary "183-day test" for physical presence
New factors considering work arrangements
Clearer guidelines for temporary residents

Foreign Income
Key updates include:

Modified reporting requirements for foreign income
Changes to double taxation agreements with several countries
New rules about declaring overseas earnings

COVID-19 Related Changes
Some temporary measures introduced during COVID-19 have become permanent:

More flexible working arrangements affecting tax residency
Remote work considerations for tax purposes
Modified requirements for presence in Australia

Important Notes:

These rules can be complex and change frequently
Specific circumstances may affect how these rules apply to you
Different visas may have different tax implications
Professional tax advice is recommended for your situation