I'm a working Australian

[boomtown]

But Im not getting a handout. Bugger lol.

http://www.news.com.au/business/story/0,27753,25001488-462,00.html

 

[buzzlightyear]

I am guessing a 200+bp reduction off the cash rate & mortgage interest rates over the next few months would more than compensate?

 

[boomtown]

Not if youre a 100% fixed.









Doh.

 

[FHB]

Yep, me neither, and I pay shed loads of tax. Maybe I should stop buying stuff in protest.

 

[boomtown]

Yep, me neither, and I pay shed loads of tax. Maybe I should stop buying stuff in protest.

Clearly Rudd thinks you are an unWorking Australian, or a Working unAustralian or maybe an unWorking unAustralian?

 

[FHB]

Oh, we'll get a little from the tax bonus, the missus gets the maximum:

A one-off lump sum tax bonus of $950 will be paid via a cheque in the mail or electronic transfer from April for all taxpayers earning up to $80,000.

Those earning between $80-90,000 will receive $650, and $300 will be handed out to people earning up to $100,000.

 

[Lamingtons]

Oh, we'll get a little from the tax bonus, the missus gets the maximum:

A one-off lump sum tax bonus of $950 will be paid via a cheque in the mail or electronic transfer from April for all taxpayers earning up to $80,000.

Those earning between $80-90,000 will receive $650, and $300 will be handed out to people earning up to $100,000.

So this is based on our current year PAYG?
Or last year's income??

 

[FHB]

Good question? The PAYG wouldn't take investment income into account. Maybe they will do it like they do the baby bonus, estimate your income for the next 6 months....

 

[terrence]

Nice, I think I deserve my one off payment of $950.

Working 70 hours a week for ~$700 is getting hard.

 

[Lamingtons]

This is interesting... so if it's an estimate and based on this year's income.
People might have to pay back the 'handout'?
Let's see what happens.

 

[Chris.R_WA]

Surely they don't add in rental income??

Then they'd have to account for interest payments/neg gearing, dividends, franking credits etc...

Hopefully it's on straight PAYG, then I just scrape in for some moolla

Anyone know for sure ?

 

[Lamingtons]

I'm franctically searching for something.
I was on the phone with ATO about 10 mins ago, I should have asked her!

 

[FHB]

I think it will be a few days before they have official details on the web.

 

[Lamingtons]

I just read the media release.

A 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.

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

 

[Alex P Keaton]

Yey $950 for me!!

 

[Nathan]

for me too

 

[Lamingtons]

Imagine the influx of people filing their taxes before April if they have been procrastinating.

 

[Witzl]

woohoo... both myself and my fiancee will get the $950 bonus.
No idea what to do with it though.

 

[Lamingtons]

woohoo... both myself and my fiancee will get the $950 bonus.
No idea what to do with it though.

Ruddy says to SPEND SPEND SPEND SPEND!
WOOOT!

 

[Witzl]

maybe we'll hold a big govt sponsored cash poker night with all our "working australian" friends....