second stimulus package just announced

[Dawn&Andy]

just been watching this on telly, lets hope it works eh,

 

heres a link to whats happening this time round

 

http://www.pm.gov.au/media/Release/2009/media_release_0778.cfm

 

Dawn x

[Guest Jamie&Carrie]

This looks very intriguing but there was one thing that caught my eye...

 

The remaining third of the plan is an immediate injection of $12.7 billion in one-off bonus payments of $950 each for low- and middle-income households and individuals through five bonuses to be paid in the next few weeks through either the Australian Tax Office or Centrelink.

 

It means 8.7 million workers earning $100,000 or less will receive a lump sum payment of up to $950 each from April.

 

Would this apply to ANYONE in full time-part time employment irregardless of type of visa?

 

I assume a person on a WHV would not get a look in though.

[Guest Jamie&Carrie]

This is good too..

 

$12.4 BILLION over three years to fund the construction of assembly halls, new libraries, indoor sports centres and performing arts centres for primary schools.

[Diane]

Oh good, they can use all the new halls to run drop-in centres for all the people who end up out of work!

 

All very well giving money to tax payers, but what about families such as ourselves where OH has been made redundant and therefore will possibly not be paying any tax!

 

And I have to say it drives me mad this concept of "give people money and tell them to go out and spend it" - with job insecurity in the current climate I reckon saving it to make possible mortage repayments so you don't lose your home might be slightly better advice - and as most of the things people spend the money on are made abroad anyway, it doesn't help the Australian economy a great deal....

 

<climbing off soapbox> D

[ozzieclare2be]

its only for people who payed tax 2007-2008 so doubt we qualify as we arrived in july

[lorluc]

This looks very intriguing but there was one thing that caught my eye...

 

The remaining third of the plan is an immediate injection of $12.7 billion in one-off bonus payments of $950 each for low- and middle-income households and individuals through five bonuses to be paid in the next few weeks through either the Australian Tax Office or Centrelink.

 

It means 8.7 million workers earning $100,000 or less will receive a lump sum payment of up to $950 each from April.

 

Would this apply to ANYONE in full time-part time employment irregardless of type of visa?

 

I assume a person on a WHV would not get a look in though.

 

The link in the opening thread explains this really well.

 

lump-sum payment of up to $950 will be made to eligible taxpayers from April 2009. The bonus will be available to Australian resident taxpayers who paid tax in the 2007-08 financial year after taking into account available tax offsets and credits.

 

So if you were a resident and paid tax during 2007-2008 (after offsets etc) you will be eligible.

[lorluc]

Oh good, they can use all the new halls to run drop-in centres for all the people who end up out of work!

 

All very well giving money to tax payers, but what about families such as ourselves where OH has been made redundant and therefore will possibly not be paying any tax!

 

 

If he paid tax last year (2007-2008)...you should get it...if i understand it correctly!

[Guest Jamie&Carrie]

The link in the opening thread explains this really well.

 

lump-sum payment of up to $950 will be made to eligible taxpayers from April 2009. The bonus will be available to Australian resident taxpayers who paid tax in the 2007-08 financial year after taking into account available tax offsets and credits.

 

So if you were a resident and paid tax during 2007-2008 (after offsets etc) you will be eligible.

 

 

Didn't use that link but if I had I wouldn't have asked the question...or would I? LOL!

 

I'm a space cadet! :embarrassed:

[lorluc]

The Government’s $950 Back to School Bonus will provide a one-off, up-front bonus to be paid to families eligible for Family Tax Benefit Part A (FTB-A) on 3 February 2009 for each eligible child of school age (aged 4 to 18 on 3 February 2009).

 

Although i admit this is good for us as we fall in the above category....a thought has occured to me....there doesnt seem to be too much for families with pre-school age kids in this package.

 

It seems that if you are a family, where the mother stays home to care for young kids...and maybe does some part-time work, but doesnt pay tax as she doesnt earn much...then you miss out on quite a bit here...

 

You miss out on the single income family bonus....because you're earning an income....

You miss out on the tax bonus as you would not have paid tax in 2007-2008

You miss out out on the school bonus because yr kids are not at school!!!

[Guest Django]

All very well giving money to tax payers, but what about families such as ourselves where OH has been made redundant and therefore will possibly not be paying any tax!

 

I see what you are saying here but if you read all the text this payment is instead of tax cutting. If someone isn't working they wouldn't receive the benefit of a tax cut either. Its just a gimic. Where most countries are cutting the rate of tax, Oz is giving away the money they would lose out on from tax cuts. Not only does it look good that they are 'giving' money away, they have the added bonus of not having to put the tax up in the future and look bad for that.

 

Pete

[newlife]

Hi,

I may sound thick, but does this mean anyone earning under 90,000 gets a payment of $950, plus single income on part b gets $950 plus each child of school age gets $950? or is it just a single payment per family?

 

Wendy

[Beanbear]

:arghh:

 

Can't believe it! For a brief moment I really thought that we were in for some help at a time when school fees and all the other huge bills that seem to have come recently have left us quite skint... but no. Presumably although OH worked most of 2008 we won't qualify - or is it for people who paid tax in that period at all? Hope it's the latter, 'cos it's wearing a bit thin all this missing out on things.

 

And before anyone jumps on this I know it's what we signed up for, but it's still been a set of continuing knocks missing out on things that were unexpected to everyone (i.e the increased FHOG, $1000 pay outs etc..) the ordinary benefits I can live with even though we pay the same rate of tax as the pr lot grrrr....

[Andrew from Vista Financial]

Hi Claire

 

The way I read it is that anyone who is an Australian resident for tax purposes and who lodges a tax return for 07/08 by June 2009 are eligible. So temporary residents who fit this criteria are eligible for the working person $950 payment.

 

Don't hold me to it but just my interpretation of what I have read so far.

 

Andy

[ozzieclare2be]

The Government’s $950 Back to School Bonus will provide a one-off, up-front bonus to be paid to families eligible for Family Tax Benefit Part A (FTB-A) on 3 February 2009 for each eligible child of school age (aged 4 to 18 on 3 February 2009).

 

Although i admit this is good for us as we fall in the above category....a thought has occured to me....there doesnt seem to be too much for families with pre-school age kids in this package.

 

It seems that if you are a family, where the mother stays home to care for young kids...and maybe does some part-time work, but doesnt pay tax as she doesnt earn much...then you miss out on quite a bit here...

 

You miss out on the single income family bonus....because you're earning an income....

You miss out on the tax bonus as you would not have paid tax in 2007-2008

You miss out out on the school bonus because yr kids are not at school!!!

 

yep thats me even though i do work and pay tax, alex is only 2.5 so we get nada lol, cant complain we got $1000 at xmas but $950 would have paid nursery fees for a month

[Beanbear]

Hi Claire

 

The way I read it is that anyone who is an Australian resident for tax purposes and who lodges a tax return for 07/08 by June 2009 are eligible. So temporary residents who fit this criteria are eligible for the working person $950 payment.

 

Don't hold me to it but just my interpretation of what I have read so far.

 

Andy

 

Thanks Andy, hopefully you're right and you would know more about it than me. Just having a very hot, tired and stressed moment, but it would be nice to be cut some slack having spent the last year paying into the economy in a big way, with more to come in the form of a large stamp duty bill ... ho hum:wacko:

[lorluc]

Hi Claire

 

The way I read it is that anyone who is an Australian resident for tax purposes and who lodges a tax return for 07/08 by June 2009 are eligible. So temporary residents who fit this criteria are eligible for the working person $950 payment.

 

Don't hold me to it but just my interpretation of what I have read so far.

 

Andy

 

Ah....but the way i read it...it says 'have paid tax' in the year 2007-2008. So you may have put in a tax return, but if your tax was 'nil' (which mine was) then you are not eligible...

 

What do you reckon?

[Andrew from Vista Financial]

Yes it states that you should have paid tax.

 

I was referring to Beanbears post regarding tax paying temporary residents and whether temp as opposed to perm would be eligible.

 

Andy

[Guest donna T]

Yes it states that you should have paid tax.

 

I was referring to Beanbears post regarding tax paying temporary residents and whether temp as opposed to perm would be eligible.

 

Andy

 

So - we paid tax in the last 2 tax returns but can't claim family benefits (temp 495 visa) - would we be eligible do you think??

Please say yes!!

 

Donna x

[lorluc]

So - we paid tax in the last 2 tax returns but can't claim family benefits (temp 495 visa) - would we be eligible do you think??

Please say yes!!

 

Donna x

 

IMO...u would be...but i'm not an expert in all this...just interpret things from what i read. But i understand that on a temp visa u are classed as a resident for tax...so i reckon yes.

 

But unfortunatley for the 'back to school' bonus, you have to be eligible for FA part A...

[Guest tooeasy]

woohoo i love mr rudd

[Anne B]

Hopefully it won't all get spent on the pokies.....

 

http://www.news.com.au/adelaidenow/story/0,,24953191-5005962,00.html

[Guest dunnarunna]

from what they said on telly this morning the $950 tax return is for people who submitted a tax return between october and now for tax year ending july 08, so as i understand it we arrived in may so wouldnt be entitled to this payment.