If your monthly wage is more than $A450, your employer must contribute an additional sum equal to 9.5% of your wage into a superannuation (pension) account for you. If you entered Australia on an eligible temporary resident visa you can, in most cases, access your contributions when you leave Australia, although the contributions will be taxed.
Tax for working holiday makers.
It is a complete myth that you will automatically get all your tax back when you leave Australia! There is a lot of confusion out there amongst, not only working holiday backpackers but also amongst many employers and even some accountants and tax agents.
Workstay Australia gets many question from overseas travellers looking for information regarding Australia so this page has been dedicated to helping travellers, backpackers, Students and even migrants coming to live or travel in Australia with questions regarding opening a bank account in Australia from overseas.
Due to the demand and increasing numbers of people coming to Australia, workstay has join up with Traveltowork as our preferred agent for opening a bank account for overseas travellers.
This is what Traveltowork has to say regarding opening an overseas bank account in Australia
Are you leaving to work or study in Australia? If the answer is yes, you will need a bank account and the fastest way to do this is through Traveltowork. Traveltowork specialise in assisting over 25,000 customers to open bank accounts in countries all over the world and ensure that the whole process is hassle free.
Traveltowork have partnered with ANZ, one of the largest banks in Australia, to assist you in opening bank accounts in Australia. With over 484 branches throughout Australia ANZ is the best choice for banking in Australia.
You simply apply now and we will provide you with your account details within 4-5 working days by email. That simple!
On arrival you simply show your passport/driving license in any branch of ANZ within Australia and you will receive your ATM card by post 1-2 days later however you are free to access funds immediately at the ANZ branch.
One last comment from us, we were more that happy to work with Traveltowork due to Workstay having all our own banking done with ANZ and even the directors personnel accounts are all through ANZ so we highly recommend them.