Working Holiday Makers
The parliament of Commonwealth of Australia introduced Working Holiday Makers Reforms Bill 2016 during the month of December. The bill emphasizes taxation on the payments made to working holiday makers. The Working Holiday Maker program allows young adults (18 to 30) from eligible partner countries to work in Australia while having an extended holiday.
Changes to Payment Summaries
Australian Taxation Office has published Final Specification for both Self-Printing PAYG Withholding Payment Summaries (version 5.3.0) and PAYG Withholding Annual Report (version 12.0) which would be used from 2016-17 financial year onwards.
Our Position Statement has been revised to include more details on the above legislative updates and the business solution availability. We advise customers to review the position statement to keep up-to-date. The Position Statement can be found on My Oracle Support
, Document ID 2219948.1.