McCarthy joined the WorldTour with Tinkoff-Saxo last year after a successful 2012 season with Jayco-AIS that saw him win the New Zealand Cycle Classic and the Tour de l'Avenir prologue.
The Queenslander made his Grand Tour debut this year at the Giro d'Italia where he finished third in Stage 17.
"I've had a solid season in the manner that I've developed steadily, I rode my first Giro d'Italia and I got some more World Tour experience and power. I'm getting closer to finding myself as a rider," said the 22 year old.
"Right now, I see myself moving in the direction of becoming a rider for the medium mountain or hilly stages, where you try your luck and play the tactical game carefully."
As a domestique McCarthy has ridden many kilometers in the front of the peloton working for the team, an experience he values.
"I like working for the team captains even if it completely ruins my own chances in the race. Cycling is a team effort, and I learn a lot from riding with my captains. It feels as a sort of victory, when you let go of the front after having done your very best."
McCarthy had a medical scare in August at the Eneco Tour when he had an allergic reaction to peanuts, causing him to withdraw from the race.
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