Anyone got their 900 bucks yet?

The funds in my account that I thought was our stimulus was actually catch up for underpayment to me by Centrelink, so I am still waiting.
 
I actually still need to submit 06/07 and 07/08 :eek:

06/07 is a bit complicated and I'm still looking for paperwork with CGT.

07/08 isn't so bad...can probably get it done. Just have to make sure I have all the paperwork.

So question is can I submit 07/08 first? or do I need to do both?

I am not trading shares anymore...it's too much paperwork for tax purposes...buying/selling, dividends etc what a hassle and I lost money too. Waste of time.
 
Hi Sue 78.
I do not know if you have other children but believe me it gets more complexed with children. If you are receiving any sort of Govt Family A or B payments. Or even child care benifits for pre-school.

If you are getting any of these benefits but for some reason go over a certain amount of income , eg ( Capital gains that year)
you could find yourself paying tax. As well as a hefty refund for Family A or B payments along with govt child minding fees :eek:

Think you will need to get tax done in sequential order. Then ???
 
Isn't it a little tricky. It only says on the ATO website about the stimulus package that you have to file your 2007-2008 tax and does not mention about prior year's tax lodgement.
 
Just wondering if anyone has received a present from Kevin Rudd into their bank account yet.

I'm talking about the $900 for taxpayers which was supposed to start getting paid yesterday. Not the family payments etc.
I don't have it yet but not a worry.

I'm 55yo with an SMSF and somebody has just suggested a strategy. Even at a younger age, this could give a longer term gain. But I don't know if I even have my facts correct. So if I'm not right, can someone please point me in the right direction?

.Put an extra $100 into the cheque
.Therefore have $1000 to put into super
.That makes you eligible for an extra $1500 co contribution from the government.

So I've turned $100 plus Rudd's gift into $2500.

Whatever age, that's an extra big bonus.

But, at 55, somebody has suggested to me that if I can structure some of my SMSF into a "Transition to an Allocated Pension" (TRAP) which I can draw on immediately.

Is this really possible?
 
I don't have it yet but not a worry.

I'm 55yo with an SMSF and somebody has just suggested a strategy. Even at a younger age, this could give a longer term gain. But I don't know if I even have my facts correct. So if I'm not right, can someone please point me in the right direction?

.Put an extra $100 into the cheque
.Therefore have $1000 to put into super
.That makes you eligible for an extra $1500 co contribution from the government.

So I've turned $100 plus Rudd's gift into $2500.

Whatever age, that's an extra big bonus.

But, at 55, somebody has suggested to me that if I can structure some of my SMSF into a "Transition to an Allocated Pension" (TRAP) which I can draw on immediately.

Is this really possible?



Yes it is true:


Eligibility
From 1 July 2008, you will be eligible for the co-contribution if:

> you make a personal super contribution by 30 June each year into a complying super fund or retirement savings account
> your total income is less than $60,342 (this is indexed annually to reflect changes in average wages)
> 10% or more of your total income is from eligible employment, running a business or a combination of both
> you are less than 71 years old at the end of the year of income
> you do not hold an eligible temporary resident visa at any time during the year
> lodge your income tax return.
 
My partner and I got our combined $1500 by mail today. Straight into the offset account to use as a deposit when I get back to Australia. Still don't agree with it but happy to take it.

Struddy
 
Finally got our $900 x 2 today!

.That makes you eligible for an extra $1500 co contribution from the government.

Just be careful because it is "total income" not taxable income. For example negative gearing is added back on, plus business income may be too.
 
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