Time is running out for Working Holiday makers to …
Time is running out for Working Holiday makers to get their superannuation claims in ahead of the new rules. Any superannuation refunds paid out prior to 1 July will be taxed at 38% (taxed element), any refunds paid out after this date will be taxed at 65% (taxed element). Applications can take up to 28 days to be processed, sometimes more if your superannuation provider requests further information. If your claim is submitted prior to 1 July and paid out after – you will be charged the higher rate of tax.
Please contact us asap if you would like assistance with your claim.
https://www.ato.gov.au/Individuals/Super/Accessing-your-super/Working-Holiday-Makers/
Working Holiday Makers
ato.gov.au
From 1 July 2017, departing Australia superannuation payments (DASPs) made to Working Holiday Makers will be taxed at 65%. Payments made before 1 July 2017 will be taxed at the current rate, which is 38% for a taxed-element.
