Anyone got their 900 bucks yet?

[stumunro]

I'd like to get stimulated! I work, but have too many losses, so I will have to stay unstimulated. Hubby won't get stimulated either. We might have to stimulate ourselves. The interest rate cuts are better anyway.

as i understood it anyone who lodged a tax return - positive or negative would receive it

 

[Sim]

as i understood it anyone who lodged a tax return - positive or negative would receive it

No - it is only available to people who have a positive tax liability.

http://www.ato.gov.au/corporate/content.asp?doc=/content/00181138.htm

 

[Cherry Pro]

Hubby and I got our checks in the mail yesterday.

Our teenagers who filed their returns but claimed back all the meagre
tax paid, did not get anything, so Sim's right - only paid to people with
a 'positive' tax liability.

 

[depreciator]

I got mine yesterday. I wasn't sure whether I would get it, but I had plenty of losses last year that dragged my taxable income down.
I've blown the lot!
Bought a new inverter welder ($490) to replace my old transformer stick welder. Chinese made machine, but a local retailer, so he would have made a couple of hundred dollars. And it's being delivered to the office today by a courier - a bit of local stimulus there.
The $410 balance I've given to a local charity - www.ourplace.org.au
I figure that with the GFC and the amount of money people gave to the bushfire appeals that some smaller charities will be doing it tough this year. And this local charity is one that appeals to me. They will be spending the $410 in the local area.
Scott

 

[pully]

yes got the payment.
on the same day paid the PAYG tax for april.
so just recycling really.

regards

 

[AUSPROP...]

Hubby and I got our checks in the mail yesterday.

Our teenagers who filed their returns but claimed back all the meagre
tax paid, did not get anything, so Sim's right - only paid to people with
a 'positive' tax liability.

depending on the size of their claims they may be better off not claiming some of their deductions and paying $1 of tax

highlights what a shambolic and ill thought policy this thing is

 

[rugrat]

Hubby and I got our checks in the mail yesterday.

Our teenagers who filed their returns but claimed back all the meagre
tax paid, did not get anything, so Sim's right - only paid to people with
a 'positive' tax liability.

Anyone under 18 is not eligible for the bonus anyway. I know I have a sister who is now 18, but was 17 last financial year, and she is very ticked off that she won't get it, even though she had a fulltime job and did pay tax.

 

[skater]

No - it is only available to people who have a positive tax liability.

http://www.ato.gov.au/corporate/content.asp?doc=/content/00181138.htm

Sim is correct. It is only available to those who actually paid tax last year, no matter how small an amount it is.

I was talking to my accountant about it the other day and he was telling me that it is amazing the people that this package has brought out of the woodwork, hoping to get a payment. He said that there are quite a few people who have not lodged a return, some for several years, but they have all now done it, so they can get the stimulous. Some of these with very negative results for them, not the ATO.

There are a lot of people that believe that if they lodge a return they will automatically get it. He cited one case, where an individual had not lodged a return for over 5 years and had a tax liability of over $55k which had not been paid. He's just done his back taxes so he can claim the $900.

 

[vbplease]

He cited one case, where an individual had not lodged a return for over 5 years and had a tax liability of over $55k which had not been paid. He's just done his back taxes so he can claim the $900.

eek.. I think he may regret that.

I'm still waiting for my cheque.. patiently

 

[AUSPROP...]

on the other hand he probably realised he had to pay the back taxes anyway so may as well file and get the $900 bucks than sit back and wait for the inevitable and not get the $900

 

[rugrat]

Sim is correct. It is only available to those who actually paid tax last year, no matter how small an amount it is.

I was talking to my accountant about it the other day and he was telling me that it is amazing the people that this package has brought out of the woodwork, hoping to get a payment. He said that there are quite a few people who have not lodged a return, some for several years, but they have all now done it, so they can get the stimulous. Some of these with very negative results for them, not the ATO.

There are a lot of people that believe that if they lodge a return they will automatically get it. He cited one case, where an individual had not lodged a return for over 5 years and had a tax liability of over $55k which had not been paid. He's just done his back taxes so he can claim the $900.

It always amazes me that people can let it go that long without doing a return I am one of those people who have booked in with my accountant as soon as all the group certificates arrive. So far I have always received money back, but I would rather kno if I owed any money earlier rather then later.

 

[joeExpat]

No - it is only available to people who have a positive tax liability.

you also have to be resident.. I'm not eligible despite paying Australian tax last year

 

[Gee Cee]

At the other end of the scale. We off loaded a number of older properties in 07/08 that had good gains.

So we will be paying Capital Gains tax and not getting the $900.

Then 08/09 will be all losses.

Cannot win em all

 

[chrispy]

Gee Cee

Same here - CGT no bonus

Chris

 

[Collector]

got ours today

 

[Big Tone]

Nothing for me yet!

 

[AUSPROP...]

OMG... now they are looking at slashing the health rebate. Rather than rush out to buy a new Ipod you better keep the $900 to cover medical expenses. Talk about skewed priorites!

 

[BayView]

One of my pupils is using his $900 to buy new clubs.

But here's the catch; nothing is made in Australia in the golf industry anymore - nothing.

A few bits and pieces of clothing made from material from OS and assembled here and that's it.

About $350 of it will stay here in Aus - wholesaler profit, retail profit and GST.

 

[depreciator]

Quote:
Originally Posted by Sim
No - it is only available to people who have a positive tax liability.

you also have to be resident.. I'm not eligible despite paying Australian tax last year

That's odd, Joe. When the cheques started going out, there was a huge hullabaloo in the papers about a lady who had lived here for a few years ages ago but had been living in NZ for yonks.

 

[sue78]

i'm so stressed, haven't done my returns yet and now have my handsfull. will have to get it done asap.