Who's got their $900 yet?

[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

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
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

[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 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.