116 replies to this topic

[Xon]

I can make one out of sticky-taped straws?

[B4TT]

sounds good to me... long as you paint it Silver ..

[Xon]

For $950, I'll have the straws powder coated for you.

[DukeNik'em]

LOL, you poor bastard.
I mean that both ways too...

I was think earlier. When i logged my last tax return i was an Apprentice. I've since finnished and I'm now working in a totally different trade. I'm not indentured now. So how does that effect this bonus?

The only plausible solution I can find to that is that your eligibility will be assessed on your position at your last Tax Return, but the payment will be assessed on your 07/08 Return.
eg. You earned $150,000 during 07/08, but are now studying and claiming AuStudy, you'll be ineligible because of the amount you earned in 07/08, regardless of your position now.

Hope that helps a bit.

Nick

[ams]

JOINT MEDIA RELEASE WITH THE PRIME MINISTER $950 ONE-OFF CASH BONUS TO SUPPORT JOBS The Rudd Government today announced five key $950 one-off payments for low and middle income households and individuals. The Government is providing these cash payments to immediately support jobs and strengthen the Australian economy during a severe global recession. These targeted cash bonuses are a key element of the Government’s $42 billion Nation Building and Jobs Plan to support up to 90,000 Australian jobs. To immediately stimulate the economy in the shortest possible time, five groups of one-off cash bonuses will be paid in March and April 2009. These five key bonuses include a: · Tax Bonus for Working Australians of up to $950 paid to every eligible Australian worker earning $100,000 or less. This will support up to 8.7 million individuals. · $950 Single Income Family Bonus to support 1.5 million families with one main income earner. · $950 Farmer’s Hardship Bonus paid to around 21,500 drought affected farmers and farm dependent small business owners receiving exceptional circumstances related income support. · $950 per child Back to School Bonus to support 2.8 million children from low- and middle-income families. · $950 Training and Learning Bonus paid to students and people outside of the workforce returning to study to help with the costs of education and training. · support jobs in the middle of a severe global recession the Government must stimulate the economy in the most immediate manner possible. That is why one off cash bonuses to people and families who are doing it toughest are a key part of our Nation Building and Jobs Plan. These one off cash bonuses reflect the weight of economic authority – including the advice of the International Monetary Fund – that targeted one off payments rather than generalised tax cuts spread over a lengthy period are more likely to be consumed, and thus provide a more effective economic stimulus and provide more support for Australian jobs. There will be no quick fixes, but the Government is determined to act swiftly and decisively to support Australian households, growth and jobs. These cash bonuses will stimulate consumption quickly, supporting economic activity and jobs until our nation building initiatives have an impact. This $12.7 billion package is a major economic initiative to deal with these extraordinary economic times and is in addition to the Economic Security Strategy that the Rudd Government delivered in December 2008. Tax Bonus for Working Australians The Government will provide an up-front, lump-sum tax bonus of up to $950 to around 8.7 million Australian workers earning $100,000 or less. 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. The bonus is subject to an income threshold test which determines that a: • $950 bonus will be paid to eligible taxpayers with a taxable income of up to and including $80,000; • $650 bonus will paid to eligible taxpayers with taxable incomes exceeding $80,000 and up to $90,000; and • $300 bonus will be paid to eligible taxpayers with incomes exceeding $90,000 up to and including $100,000. Taxpayers will not need to apply for the payment. The Australian Taxation Office will automatically make the payment after determining eligibility. Single Income Family Bonus The Government’s Single-income Family Bonus will provide an up-front, one-off bonus payment of $950 to approximately 1.5 million families who receive Family Tax Benefit Part B (FTB-. The bonus is intended to provide additional assistance to families with children that have one main income earner. The payments, which will be made automatically by Centrelink in the fortnight commencing 11 March 2009, will be non-taxable and will not be counted as income for social security purposes. The small number of families who claim FTB-B as a lump sum, will receive their one-off payments from Centrelink in 2009-10 and 2010-11 after their 2008-09 tax returns have been processed by the Australian Taxation Office. Families who are eligible for FTB-B on 3 February 2009 will receive the Single Income Family Bonus. Farmer’s Hardship Bonus The Government will provide $20.4 million in 2008-09 for an up-front, one-off bonus payment to farmers and rural-dependent small business owners receiving exceptional circumstances related income support. A lump-sum payment of $950 will be made to people who, on 3 February 2009, are receiving: · Exceptional Circumstances Relief Payment for Farmers; · Exceptional Circumstances Relief Payment for Small Business; · Interim Income Support for Farmers; · Interim Income Support for Small Business; · Transitional Income Support; or · Farm Help Income Support. The payments will be made in the fortnight commencing 24 March 2009, to approximately 21,500 recipients and will provide additional support to groups of Australians who are in hardship. These bonus payments will not be taxable and will not be counted as income for social security purposes. Back to School Bonus 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). This will help meet education costs for the 2009 academic year and is in addition to and separate from the Education Tax Refund. The Back to School Bonus is expected to help 2.76 million children aged 4 to 18 in just over 1.5 million families across Australia. Training and Learning Bonus The Government’s $511 million Training and Learning Bonus provides an up-front, one-off bonus to eligible students to assist with the costs for the 2009 academic year. It also provides a temporary (until June 2010) additional incentive for social security recipients to return to education and training. The Training and Learning Bonus consists of two categories: Category 1 · A one-off $950 bonus for recipients of: Youth Allowance (students and apprentices); Austudy; ABSTUDY and related payments · The one-off bonus will also be available to recipients of Sickness Allowance and Special Benefit (under age pension age). · If a student attracts the Government’s Back to School Bonus they are not eligible for the one-off $950 Learning and Training Bonus. Category 2 · A temporary supplement (from 1 January 2009 to 30 June 2010) to the Education Entry Payment (EdEP) of $950. This is in addition to the existing EdEP payment of $208, which provides assistance with the costs of training courses, for income support recipients who are returning to study. · A temporary extension (from 1 January 2009 to 30 June 2010) of the EdEP to Youth allowance (other); and · A temporary relaxation (from 1 January 2009 to 30 June 2010) of the requirement that recipients must have been receiving social security payments from 12 months to 1 month. Around 440,000 students and people returning to study will be paid this one off cash bonus. CANBERRA 3 February 2009 (some/all of this may have been posted before)

[Xon]

My mum works at some tax consultant or something (nfi actaully) but she's emailing me a document on who/what/why you would or wouldnt be eligable.

will post when i get it.

Look forward to that.

In other news, looks like the f**king opposition might block it anyway...

[DukeNik'em]

Look forward to that.

In other news, looks like the f**king opposition might block it anyway...

Yup, us Liberals do that. Malcolm won't block it though, it would too much of an unpopular decision, but he's sinking the boot in his criticism, because it really is an irresponsible waste of money, and there's no plan to an actual rescue, they just top people's accounts up every now and then and hope for the best. I'll hop off my Soap Box now .


Nick

[B4TT]

http://www.smh.com.a...3423268846.html
Yeah that was the reply,
f**k TURNBULL!!
I want my $950.... telling us that we will get this money then having someone else take it away is enough to make a ****** want to kill!!
/rant

[Xon]

Yup, us Liberals do that. Malcolm won't block it though, it would too much of an unpopular decision, but he's sinking the boot in his criticism, because it really is an irresponsible waste of money, and there's no plan to an actual rescue, they just top people's accounts up every now and then and hope for the best. I'll hop off my Soap Box now .


Nick

Well to be fair, the best way to prevent a recession is to get everyone to spend money...
If people won't spend their own money, they might as well spend the governments. I don't see how its irresponsible OR a waste of money to be honest.

[DukeNik'em]

Well to be fair, the best way to prevent a recession is to get everyone to spend money...
If people won't spend their own money, they might as well spend the governments. I don't see how its irresponsible OR a waste of money to be honest.

Yes, but we saw what happened in the December payouts, a lot of people known to Centrelink, i.e Career Welfare types, were receiving the payments. Last time I checked the Alcohol, Tobacco and Betting Industries weren't in Economic strife, and those that weren't swayed that way, people who work their way around tax, or pensioners, were smart and kept the money as they knew things might get tight. There's no underlying plan, it's just spend spend spend, and we'll be further in deficit.
The Coalition suggested Tax cuts across the board so that workers are taking home more money consistently, not just getting one off payments from the government. As this thread proves, most people will put the cash towards large one off purchases, but if you were getting taxed less, and therefore taking more home you're more likely to splash out weekly on luxuries or better still it might have been the $50/ extra a week you needed to purchase that new car, or finally buy a house.
Tax cuts are a very much more though out solution, but tax cuts don't happen under Labor, I might keep my $950 to off set the tax hikes that will be sure to come before the end of the year.


Nick

Sorry about the novel guys.

[Soop]

It makes f**k all difference where or how its spent Nik. So long as its spent on the Australian economy. So this paranoid elitist "The poor people will just blow it on crap" arguement is a total load of bollocks. More over, the fact that only tax payers are eligible rules out the people recieving benifits. It will go along way to helping the majority of the workforce in this country. The liberals are way out of touch with the Australian public, they've prooven that time and time again over the last 3years.

[DukeNik'em]

It makes f**k all difference where or how its spent Nik.
So long as its spent on the Australian economy.

So this paranoid elitist "The poor people will just blow it on crap" arguement is a total load of bollocks.
More over, the fact that only tax payers are eligible rules out the people recieving benifits.
It will go along way to helping the majority of the workforce in this country.

The liberals are way out of touch with the Australian public, they've prooven that time and time again over the last 3years.

Not even going to argue Politics with you Paul, as this post (especially; "It makes f**k all difference where or how its spent Nik.
So long as its spent on the Australian economy." ) completely demonstrates your ignorance.

Nick

[Xon]

Nik the problem with tax cuts is that the majority of people would either end up saving those extra dollars, or those with a mortgage will probably just dump it onto the mortgage, which does very little to fix the unstable economy. Infact by saving your $950 you're pretty much creating a self-fulfilling prophecy. The whole idea of the Rudd government handing out the $950 is for those receiving it to spend it, not to sit on it!

[DukeNik'em]

Xon, when people sit on money it is in accounts, when money is in accounts the banks are able to use it, as they raise money (a key part in the rescue of the Global Economy) they will lend it more to businesses which are struggling to survive due to not being able to borrow money. The figures show sales did not drop in Australia during the last few months, businesses aren't struggling due to people tightening their belts as much as is made out. the key problem is the banks needing money, hence the huge bailouts we gave them. The more that people contribute to their mortgages the more they are helping the economy as they are preventing forecloures which were the Achilles heel that brought down giants like Lehmann Brothers. By spending it on such things as Alcohol, Cigarettes and Gaming, which sales figures actually increased after the last payments, helps nothing as the amount of tax on these items goes straight back to the Govt, and the retailer collects less of a profit margin. I'm not talking out my arse, I was in Property Finance working with the major banks before enlisting. Although you're correct in saying that some spending is needed, like I said people would consider getting into a habit of buying luxuries or making a very large purchase on finance if they received tax cuts opposed to the one off payements. But at the end of the day, $950 will be in our accounts after March, and it's not really worth talking about anymore. Unless Ruddy owns a Soobie and reads this. Nick

[Xon]

Nik mate that's great that you were a in property finance, I happen to work in finance too. What I'm a bit confused about is why you seem to have the idea that you know more about running an economy than government employeed economists? They're not employed because of their haircuts mate...

[SUBARU]

Waaaaahhhhhhh!!! What's all this crying about? Take your $$'s and be happy in the thought that you're helping the nation when you spend it.

[Soop]

How old are you Nik? Just curious.... How is it ignorant of me to say that? If Person A spends money on Item B, money exchanges hands and Person C's wages are paid. Person C then spends those wages on more items, ect ect. None if this can happen if Person A has nill dollars to begin with. Which is what the issue is at the moment.

[CRUISN]

[Soop]

So don't read it. STFU and GTFO newb...

[SUBARU]

???? I'm confused. Why are Souvlaki's sometimes called Gyros? I've also never really trusted Swans. Anything that can fly with a neck that long has to be a robot. I reckon they might be packing mini machine guns under their wings. Where's the happiness of $950 payouts gone?