comet555

For some of us that's an awful lot of engineering! If you're just over the limit than that's understandable that something can be done.

But how would you be able to drop your income down $50,000? How about $75,000 or higher? Is that possible.... I doubt it unless you have a lot of losses somewhere.

Edited to add: even if we could salarify sacrifice or mortgage payments it still wouldn't get us low enough.

renth

Dunno, I'm not an accountant but it's amazing how many ultra rich people if they ever go to court or are sued manage to be skint or able to have their legal fees paid.

comet555

True enough, but for most people it's probably not possible to adjust their income so that on paper they lose up to half of it.

ABCDiamond

FTB part A stops totally when a family with one child under 17, earns $100,801 or more. (Or $160,150 with 6 kids)
I know some accountants that could get almost anyones income down sufficiently, but at $500 ph, it may not be worth it

I think this $1,000 could have been done differently.
It doesn't seem fair that a family on $40,000 gets the same as a family on $100,000.

But then, the aim of this was to spend it all quickly, and boost the economy, so then I ask: why bother paying anyone these $1,000 payments next July ?
It will be too late.

Actually "Losses", mentioned above, do not reduce income for 'Centrelink' purposes, it actually increases your taxable income for 'their' calculations.

sme

Absalutely - my salary sacrificing "benefit" massively impacted on our joint income in relation to centrelink payments to the tune of $16,000 - great way to retain staff who work in public sector hospitals!

viviennef

A difference is if you are self employed or fully employed. I would expect, if a contractor or a own business person, for my accountant to keep my personal income low enough - not to get the $1000 but for various other reasons.

I was landed with the money, I think its a really nice feel good thing. I do agree though that fully employed people with or without kids should get a look in. Except if you smoke ......

Vivienne
p.s. I was a smoker for most of my life, but am enjoying the moment where I can say that.

ABCDiamond

But at least you do get the main Tax Benefit, that most of us can't get

The public sector hospital staff do get some excellent salary sacrificing benefits like that.

moneypenny20

Husband works his nuts off all the time working all day everyday, I work part time because we have children and we feel I should be around for them. We are still under the threshold and so have received the payout. Get arsey about not getting it but don't make crap generalisations about people you know sweet F A about.

welshviking

Hang on, I thought it was for citizens only?

wannabauzzienurse

Well said! I work full time too and OH works and we pull in nowhere near $100,000 and as for people earning $100,000+ moaning cos they aren't getting anything grrrr

ABCDiamond

and for Permanent Residents.

Tom Sawyer

So in other words those of us who play a straightbat, pay our dues etc should be "penalised"? It is a great system that basically encourages everyone to "distort" their incomes to get a $1000 per child this year and child benefit most years. So with all the cash being given away by the government now + all the tax cash they are missing out on because of this annual "deception" what should the annual surplus (until Rudd and co blow it) really be and what could be done with it?
Oh, and in reply to someones comment about being just below the threshold...... yes we all work hard but I wouldn't say I earn a massive amount for the job and responsibility that I have. I'd say I'm more middle income, so luckier than some. I've just worked 96hrs over 8 days, and doing 84hrs over 7 days next week, including Christmas Day, so it will be Christmas Day on Dec 30th in our house. But then I will pay the extra tax on my Christmas Day shift penalty, get paid a bit extra and no doubt it will put me above the threshold again next year so no child benefit again. Nice.

nickyjohnt

We didnt get ours ! John went to centrelink today and was told they are still going to make payments in January.

Nicky

harveyhare

You did'nt get it because they knew you would spend it down the boat

Di

stuckinblighty

Thats what i was told by centrelink when i phoned them on Friday