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2009 stimulus payment
It's almost like an early tax return, since it does come from our taxes.
Two questions for those of you entitled to the payment?
1. What should you spend the money on?
2. What will you likley spend it on?
Personally:
1. I should use it to pay off some bills, I know it's not the intent of the money but I'd rather reduce some of my debt than buy more stuff.
2. I'd likely put $500 towards some bills and leave the rest in an account till I figure out what to do with it. I did want to put it towards a tattoo, a HUGE bender and some new clothes, but that looks doubtful.
Two questions for those of you entitled to the payment?
1. What should you spend the money on?
2. What will you likley spend it on?
Personally:
1. I should use it to pay off some bills, I know it's not the intent of the money but I'd rather reduce some of my debt than buy more stuff.
2. I'd likely put $500 towards some bills and leave the rest in an account till I figure out what to do with it. I did want to put it towards a tattoo, a HUGE bender and some new clothes, but that looks doubtful.
I know this is a really stupid question BUT please forgive me.... how do I know if I am entitled to the payment?
If I am and I get it, I will be putting it straight on my credit card, because the sooner I pay that debt off the sooner I get to actually start shoppiong and living and going on holidays again!
If I am and I get it, I will be putting it straight on my credit card, because the sooner I pay that debt off the sooner I get to actually start shoppiong and living and going on holidays again!
Post Last Updated: 12.03.2009 at 15.32
Who is eligible?
The bonus will be available to Australian resident taxpayers who paid net tax in the 2007-08 financial year.
How do I claim it?
You will not need to apply for the payment. The Tax Office will use its records to determine who is eligible.
To receive the payment, taxpayers must lodge their tax returns for the 2007-08 financial year by 30 June 2009.
The vast majority of taxpayers have already lodged their tax returns.
How much money will I get?
* A $900 bonus will be paid to taxpayers with taxable income up to and including $80,000.
* A $600 bonus will be paid to taxpayers with income exceeding $80,000 to $90,000.
* A $250 bonus will be paid to taxpayers with income exceeding $90,000 to and including $100,000.
When and how will it be paid?
The Tax Office has begun checking who is eligable and will send out cheques from April 2009 for those who have lodged a 2007-08 tax return.
The bonus will be a direct payment to taxpayers including through electronic transfer or cheque. The bonus will not be used to offset a taxpayer's tax liability.
- Money
The bonus will be available to Australian resident taxpayers who paid net tax in the 2007-08 financial year.
How do I claim it?
You will not need to apply for the payment. The Tax Office will use its records to determine who is eligible.
To receive the payment, taxpayers must lodge their tax returns for the 2007-08 financial year by 30 June 2009.
The vast majority of taxpayers have already lodged their tax returns.
How much money will I get?
* A $900 bonus will be paid to taxpayers with taxable income up to and including $80,000.
* A $600 bonus will be paid to taxpayers with income exceeding $80,000 to $90,000.
* A $250 bonus will be paid to taxpayers with income exceeding $90,000 to and including $100,000.
When and how will it be paid?
The Tax Office has begun checking who is eligable and will send out cheques from April 2009 for those who have lodged a 2007-08 tax return.
The bonus will be a direct payment to taxpayers including through electronic transfer or cheque. The bonus will not be used to offset a taxpayer's tax liability.
- Money
It's funny how many people are putting it on the credit cards; genius for them, but shows you how ill thought through the stimulus is. How about putting the same amount of money to keeping those facing redundancy in work? I hear that might help the economy just a wee bit more.
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