Who's got their $900 yet?

[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

[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

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

[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

[nev25]

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

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.

Somethings not right.

[Waldo]

You aren't right.

[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
And that SUX

[ficfac]

ours are all gone... VISA!

[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