Who's got their $900 yet?

[rod1949]

I haven't and everybody I know hasn't. But by the sound of it come May we're going to be giving it back... as if we didn't know.

[Chesand]

Got mine about 10 days ago but my wife is still waiting for hers.

Some of mine might have to be spent on a new thicknesser as my existing one is sick (maybe terminal)

[Pat]

Both of us have got ours.

Of course state and federal taxes, excises, fees and charges will rise, as they normally due at budget time. It is the way of the world.

[damian]

Chap at the next desk has recieved his, his sirname starts with A, don't know if that matters.

I remember a time when every budget included tax increases. We have had a good run these last some years with tax rates falling, couldn't last forever I suppose...especially when giving tax breaks only encourages people to borrow more, spend more and save nothing.

[rotten_66]

Got mine in the post on Tuesday, I start with a "W", the wife didn't get hers yet but I am starting to wonder.

$900 in the letterbox from Mr Rudd and in the same delivery a request for $1100 from Mr Mastercard. These were left on the bench for me, hmmm Me thinks possible foul play at hand.

[Pat]

Got mine in the post on Tuesday, I start with a "W", the wife didn't get hers yet but I am starting to wonder.

$900 in the letterbox from Mr Rudd and in the same delivery a request for $1100 from Mr Mastercard. These were left on the bench for me, hmmm Me thinks possible foul play at hand.

If you are lucky, you might notice new sheets or some household stuff miraculously appearing, before that new dress, the new shoes/handbag/jewelry to match . . . .

And it's no bet that you do not put much stuff on the card . . .

[Alastair]

LOML and I got our cheques last week.

Ive got my eye on TS, She has her eye on my cheque:oo:

[cytan]

I havent got mine yet, but I suppose i need to do last years tax return fist. I know the money is good and comes in handy for a lot of things, BUT how much is it going to cost us in the end. :o

[Chesand]

BUT how much is it going to cost us in the end. :o

A lot

[Glenn_M]

SWMBO and I just got ours tonight paid into the bank. Should I tell her?:wink:

Glenn

[paul collins]

well wife got her $900.00 me i got $250.00 is that discrimination .lol

[Carry Pine]

All we got from Kevin was a reminder to do a 'swab' for colon cancer. That's what you get for your 55th birthday now.
Second in charge says we don't qualify because they add the taxable incomes together for married couples. It's not how I read it but what would i know.

Graham

[johnc]

They don't add the incomes together, so as long as you earn under $80,000 you pick up the $900 (providing you pay some tax in the first place).

[Carry Pine]

They don't add the incomes together, so as long as you earn under $80,000 you pick up the $900 (providing you pay some tax in the first place).



Thanks for that advice, John. But who am I to argue?
............and how come I didn't get the free colon testing kit when i turned 55?

Graham

[johnc]

Don't know, the wife got hers at 50, perhaps they don't think you or I are worth the effort.:C

[damian]

I believe the australian workforce is about 12.5 million. My understanding is that anyone who submitted a tax return in 08 gets the cheque. Obviously some people earn too much, some who are not part of the workforce will submit returns. So multiply $950 by say 12 million and then add interest. Say 10 - 12 billion.

18 months.

[silentC]

I got my little cheque last week. The missus has received nothing as yet.

I'd prefer they kept the money and put it into the health system or something useful. We had a woman lose a baby near here last month because there was no obstetrician on duty at the hospital. The small amount of cash they gave me is going to make SFA difference to anything but if you multiply that by millions, many/most of whom got the full $900, that's a lot of doctor/nurse salaries.

[damian]

Couldn't agree more.

[Pheonix]

Not me, but then I haven't paid tax for over 15 years,and thank god I don"t.

[nev25]

Not me, but then I haven't paid tax for over 15 years,and thank god I don"t.


I pay tax quarterly via my BAS so I don't get a personal tax return
SO I get nothing
And that SUX


Check to see if you qualify
http://www.ato.gov.au/corporate/cont...t/00181138.htm (http://www.ato.gov.au/corporate/content.asp?doc=/content/00181138.htm)

[Calm]

I pay tax quarterly via my BAS so I don't get a personal tax return
SO I get nothing
And that SUX


Check to see if you qualify
http://www.ato.gov.au/corporate/cont...t/00181138.htm (http://www.ato.gov.au/corporate/content.asp?doc=/content/00181138.htm)

As an accountant that doesnt sound right.

What you pay with your BAS is tax instalments (IAS). They go as prepaid tax towards your annual tax return that still needs to be done. As a business you have right up to June to do your annual tax return so your accountant may still have extensions and might not have done it yet.

Also i think it is only for "personal tax payers" not businesses - but not real sure on that.

Hope that explains it.

Cheers

[johnc]

Its for anyone that pays tax, business or wages, doesn't matter. Ditto for everything else though:2tsup:

[Waldo]

Can I send the first one back (haven't received the second one yet) with interest payable from when it was payed to me to today's date? I'd rather pay the interest on it now than for the next 20 years or so.

It's gonna bite us on the :bartmoon: :C

[nev25]

Its for anyone that pays tax, business or wages, doesn't matter. Ditto for everything else though:2tsup:

My Understanding is you have had to get a tax return (IE a refund) not just a lodge a tax return

I'm told the simple formula is look at your assessment notice from 2008 if you have lodged and go A + O - G. If this figure is greater than zero then you qualify

[Wongo]

Got the letter but not the money.

:think: Somethings not right.

[Waldo]

You aren't right. :D

[johnc]

My Understanding is you have had to get a tax return (IE a refund) not just a lodge a tax return

I'm told the simple formula is look at your assessment notice from 2008 if you have lodged and go A + O - G. If this figure is greater than zero then you qualify

Thats right you mustn't get a full tax refund of any tax paid, or have your tax bill fully met by franking credits. So if after your 2008 return is lodged the government keeps at least some of your PAYG you get the bonus

[nev25]

So as said


I pay tax quarterly via my BAS so I don't get a personal tax return
SO I get nothing:no:
And that SUX

[ficfac]

ours are all gone... VISA! :- :( :(( :rolleyes:

[ian]

They don't add the incomes together, so as long as you earn under $80,000 you pick up the $900 (providing you pay some tax in the first place).actually it's your taxable income provided it's under $80k you get the whole $900, if it's more than $100k you get nothing

but if you earn $120k and salary sacrifice $40k of it your taxable income is less than $80k so you get the whole $900

these were the rules for 2007/08
different rules apply for 2008/09



ian

[nev25]

actually it's your taxable income provided it's under $80k you get the whole $900, if it's more than $100k you get nothing

but if you earn $120k and salary sacrifice $40k of it your taxable income is less than $80k so you get the whole $900

these were the rules for 2007/08
different rules apply for 2008/09



ian


My point is I pay tax quarterly and don't get anything

[ian]

I pay tax quarterly via my BAS so I don't get a personal tax return
SO I get nothing
And that SUX


Check to see if you qualify
http://www.ato.gov.au/corporate/cont...t/00181138.htm (http://www.ato.gov.au/corporate/content.asp?doc=/content/00181138.htm) Nev
are you an incorporated entity or a sole trader?

if the former I have no sympthy, if the later seek some better advice


ian

[nev25]

Nev
are you an incorporated entity or a sole trader?

if the former I have no sympthy, if the later seek some better advice


ian

Sole Trader

Better advice from who??

[johnc]

Nev,

People who lodge BAS returns have to also lodge an annual tax return, all the PAYG collected is just an advance to the ATO against your annual tax. You are obliged to lodge a return, you do get an assessment, and providing you end up with an amount to pay (ignoring the tax credit from PAYG) you will qualify for the bonus subject to the upper income limits.

Phone your accountant or the ATO and see if you need to lodge any tax returns or if you qualify, it does seem you are very confused on this.

[Gingermick]

We were in Brisbane to see dying relatives and had spent all our cash but when I checked the bank Tuesday morning (after Easter Monday) there was $900 there. We spent it all before we came home, thus doing our bit to stimulate the economy. I feel like a very good citizen now. And we have two nintendo DS's for the two boys. It was hell with only one on the trip down, little whinging buggers;

[ian]

as John C said
BAS is just the means the ATO uses to collect PAYG tax from you
You still need to lodge an annual tax return



ian

[Fireguard]

Just checked the bank account and my $900 has finally arrived :2tsup::):2tsup:
I was beginning to think they had forgotten about me.

And for those who are intersted I'm an "L" living in a "Q" suburb and my return done second week in July. I think that just about covers all of the different methods I've been told about the order of payments :cool::roll:

[nev25]

as John C said
BAS is just the means the ATO uses to collect PAYG tax from you
You still need to lodge an annual tax return



ian


Yeah did lodge an annual return didn't get a refund so don't get $900

[silentC]

Nev, if your taxable income was under $80k you will get the $900 - if less than $100k you will get a pro-rata amount between $900 and $0. It has nothing to do with whether or not you got a tax refund last year. Getting a refund just means you paid more tax in the year than you were required to. Some people will have been required to pay tax because they didn't pay enough during the year. They will still get the payment if their taxable income qualifies.

[rod1949]

Being the instigator of the post I got my 900 buck cheque :yippy::yippee::happyb: in yesterdays mail as did several others, so this must be WA's week.

[Dengue]

Got my cheque this week, under surname "S" with postcode 4800. I heard that they are doing it by postcode

[Gra]

Got my cheque this week, under surname "S" with postcode 4800. I heard that they are doing it by postcode

I can shoot that one down in flames. Wife got hers the other day, still havent seent mine. my surname starts with O, hers with T So there doesnt seem to be any logical process

[Dengue]

I consider myself well and truly shot down! Perhaps it is prioritised on "goodness of heart". ATO would know, as they know everything about everyone :)

i am sure you'll get yours eventually .... he he he

[damian]

I have to pay extra tax every year, but can't complain means I'm making money..

maybe they are doing it by TFN ? :) Just to chuck up another theory.

I suspect it's random. No mine hasn't come yet.

[Alastair]

I have to pay extra tax every year, but can't complain means I'm making money..

maybe they are doing it by TFN ? :) Just to chuck up another theory.

I suspect it's random. No mine hasn't come yet.

Can't be TFN, Missus and mine came in same post, TFN's were issued 6 months apart, and bear no resemblance.

[johnc]

There is no obvious patten, they could be using a logorithm or lodgement dates, but it seems pretty random. There is absolutely no clear sequence but perhaps they will eventually let us in.

[silentC]

I think it's quite touching that people think there's any system to the way the ATO works. :)

[Alastair]

I think it's quite touching that people think there's any system to the way the ATO works. :)


Come now Darren, no need to become cynical:)

[switt775]

There has to be some system (computers require explicit instructions), but it could be something as meaningless as a particular digit in the TFN. As in the 1st time, pay everyone with 4th digit equal to 0 or 6. Next round do 4th digit 1 or 5. And so on until all possible 4th digits are covered, meaning that everyone has been processed..

Programmers need to have fun too, you know.:U

[Woodwould]

I don't qualify for the incentive, but if I did receive it I would return it.

What is this scheme doing for our futures? It's incredibly short-sighted and will do nothing to fend off recession in the long term - all it's doing is buying a little time at the expense of our futures.

When the recession really bites, where will all the money come from to assist people then? Yet more borrowing?

[AlexS]

... it seems pretty random.
It is, or at least pseudo-random, according to woman on the train who rang the ATO to ask.

[Carry Pine]

I like the way the ATO sends it to your accountant and the local one charges $13 to process the payment. Someone at work said that one person has been charged $35 handling fee. Surely Kev foresaw what was going to happen.

Graham
(No $900 for me yet, only the colon testing kit- now why didn't they send that to my accountant first?)

[Waldo]

Mine arrived today. It can go towards $4,000 I spent on a pitch towards a client - for which I am the incumbent.

[ian]

There has to be some system (computers require explicit instructions), but it could be something as meaningless as a particular digit in the TFN. As in the 1st time, pay everyone with 4th digit equal to 0 or 6. Next round do 4th digit 1 or 5. And so on until all possible 4th digits are covered, meaning that everyone has been processed..

Programmers need to have fun too, you know.:Uaccording to the ATO bod quoted in the Herald about 7 weeks ago, the "system" such as it is has been devised in conjunction with Australia Post and the Big 4 to achieve as even a spread as possible across the country
The main principles are:
1) the payments will occur over several weeks – I don't remember whether it was 6, 8 or 10
2) every postal delivery area — i.e. postie run — gets approximately the same number of cheques / payment advices each day or week (the intention being to avoid paying posties overtime to deliver the extra mail)
3) the banks have an opportunity to stock the local teller machines in advance of the payments in a particular area — if everyone in town got their payment in the same week there's a risk that the local bank would run out of cash



ian

[johnc]

I like the way the ATO sends it to your accountant and the local one charges $13 to process the payment. Someone at work said that one person has been charged $35 handling fee. Surely Kev foresaw what was going to happen.

Graham
(No $900 for me yet, only the colon testing kit- now why didn't they send that to my accountant first?)

There was a mechanism where by all accounting firms could opt not to receive it at all, or not to receive it into their trust accounts. The processing fee is not going to sit well with clients at all, especially as their accountant had the option of not being involved in the process.

People who have not received a cheque can ring up after the 16th to hurry it along, and those with enquiries can phone to see if they are eligible, plus their accountant can look up online to see if a cheque is on its way, or they are still sitting in credit.

[Gingermick]

Come now Darren, no need to become cynical:)

Sir Humphrey Appleby once said "A cynic is what an idealist calls a realist"

[silentC]

The processing fee is not going to sit well with clients at all, especially as their accountant had the option of not being involved in the process.
Mine came via the accountant - no charge.


Sir Humphrey Appleby...
I always liked the cut of that fellow's gib :)

[Alastair]

Sir Humphrey Appleby once said "A cynic is what an idealist calls a realist"


I like that:)

[Alastair]

Mine arrived today. It can go towards $4,000 I spent on a pitch towards a client - for which I am the incumbent.

More important, did you keep it?

Or are you waiting to find out?

[Waldo]

Have to wait until next Monday to find out.

It's gonna be a long week.

[Alastair]

Have to wait until next Monday to find out.

It's gonna be a long week.

Bugger!

[Pheonix]

Nice little legacy we will leave for our kids/grandkids,deficit of 130 billion$,
they will still be paying it off when Armagedon arrives.:roll:

[Calm]

just to let you know our Govt have got their finger on the pulse - i went to the farm today and there was an envelope in the letter box to the executor for .... .......... (my mate) and yep thats right the cheque for $900 inside - i guess he's still helping the economy even now.:doh::doh:

Cheers

[Wongo]

Still waiting....

[Gingermick]

It only comes to those who have faith, master Wong

[Wongo]

Faith! How much a kilo? When my money is here I will buy some. :rolleyes:

Still waiting.....:roll:

[nev25]

Well the handout is but over and NO I didn't get anything or did SWMBO

Gee I must have been right


Yeah did lodge an annual return didn't get a refund so don't get $900

Just another case of the small business man getting screwed

[macca2]

We earned less than $80,000
We payed tax.
We lodged a tax return.
WE did not receive the $900.
We are self funded retirees.

[roygrady]

:((

[Wongo]

We earned less than $80,000
We payed tax.
We lodged a tax return.
WE did not receive the $900.
We are self funded retirees.

That is not fair.




I finally got mine yesterday from my accountant. The bastard must have kept it for months so he could earn some interest.:~ :D

[Gingermick]

gonna buy a new triton Wonger?

[Wongo]

I know it is free money but it doesn't mean I can just throw it away. :U

How much is a new Triton these days?

[Gingermick]

What do you call a deer with no eyes

[wheelinround]

I know it is free money but it doesn't mean I can just throw it away. :U

How much is a new Triton these days?

:rolleyes: for someone who arrives first in maths since ....yeh well an economist he's not :no:

It's ok Macca I know like yourself we all pay tax every time we pay for something and pay GST :roll:

So in actual fact we are handing $$$ back to ourselves while politicians get the permanent pay rise

[Waldo]

I know it is free money but it doesn't mean I can just throw it away. :U

How much is a new Triton these days?

:think:



... about $900, you can buy mine if you'd like. I've got someone wanting to pay twice that, but 'cause you are good bloke I'll sell it to you if you like. :2tsup:

[Wongo]

Sorry can't afford it cos I didn't get $900. Sell it to another lucky buyer.:rolleyes:

[Waldo]

You did, your wife just didn't tell you. :U