Australian Tax File Number Explained (Backpacker's Guide)
If you want to work while you are backpacking in Australia you're going to need a Tax File Number. So what the hell is a Tax File Number?
A Tax File Number (T.F.N) is a unique tax number which is issued by the Australian Tax Office to people who wish to work in Australia. It's only issued once for the duration of your life time and will be used to keep your tax records while you work.
As a backpacker, the tax rate you pay will vary depending on your status with the Australian Government and the amount you earn. For example, if you don't have a T.F.N you will be charged the emergency tax rate which is around 48.5% (obviously quite high) compared to the usual being 25% (or at least between 15% to 30%).
The good thing for people on a Temporary Working visa (i.e, working holiday) is that you can make a claim for all of the tax you have paid when you leave the country. So depending how much you've earned throughout you're time in Australia, it could be quite a lot of money.
The Backpacker's Budget (Cost Of living In Australia)
Budgeting for backpacking in Australia is all about getting the most out of your trip with the funds you have available. In this article we outline how to budget for backpacking around Australia including getting up to date prices for accommodation, transport, essential shopping items and day-to-day living expenses so you can budget your trip with confidence before you go.