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Australian Government Stimulus Payments

Australian Government Stimulus Payments

Old Feb 15th 2009, 9:00 am
  #16  
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Default Re: Australian Government Stimulus Payments

How will it be paid...cheque, bank transfer...anyone know?
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Old Feb 15th 2009, 9:01 am
  #17  
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Default Re: Australian Government Stimulus Payments

Originally Posted by Red_V_Roger
How will it be paid...cheque, bank transfer...anyone know?
Yes.
 
Old Feb 15th 2009, 9:04 am
  #18  
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Default Re: Australian Government Stimulus Payments

Originally Posted by Red_V_Roger
How will it be paid...cheque, bank transfer...anyone know?


Yes, both cheque and bank transfer.

If they have your bank details on record, it will be direct to that bank account.

If not, they will send a cheque to your recorded address.

Some people have their Tax Agent as the recorded address, in which case, your tax agent gets the payment.
You have time to change this now, if you wish.
 
Old Feb 15th 2009, 11:21 am
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Default Re: Australian Government Stimulus Payments

Originally Posted by ABCDiamond
You would only be entitled to the Centrelink payment, not the Tax Office payment.

ie:
2 Payments, at $900 each, for the children if you receive FTB part A
and possibly:
1 Payment of $900, if one partner is also eligible for FTB part B.

Eligibility for these, relate to you being eligible for an FTB payment on Feb 3rd 2009.
This eligibility can be backdated by Centrelink for those who claim late, but are still deemed to qualify for FTB payments for that date.

Your payment "may" be delayed until the end of the year, depending on how Centrelink treat your claim.
Very confused by all this now. Isn't it $900 for single income families, $900 for low/middle income families and $950 for school students?
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Old Feb 15th 2009, 12:16 pm
  #20  
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Question Re: Australian Government Stimulus Payments

If I used an agent to do my tax return the money will go there unless I call the tax office tomo and give them my address details?

IF I am a resident for tax purposes, as have passed the 183 day rule, did my tax return last year through an agent, as a resident....am i entitled??

cheers
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Old Feb 16th 2009, 2:43 am
  #21  
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Default Re: Australian Government Stimulus Payments

Originally Posted by hoveactually
Very confused by all this now. Isn't it $900 for single income families, $900 for low/middle income families and $950 for school students?
Don't worry about being confused, it can get worse if I explain it correctly........... (I've already confused Centrelink )

There are three main components:

Single Income Family Bonus
$900 payable to Single and Double Income families (yes, I said double income) who qualify for FTB Part B on 3rd Feb 2009

Back to School Bonus
$900 per child, for any child, whether they go to school or not, as long the parent/guardian is eligible for FTB part A as at 3rd Feb 2009, and the child was aged between 4 and 18 on that date.

Tax Bonus for Working Australians
$900 for every Taxpayer that was "Resident for Australian tax" in the 2007/2008 tax year AND earned under $80,000 AND paid some tax for that year. A smaller payment is available to those earning between $80,000 and $100,000.

More details at http://www.britzinoz.com/page.php?177

This can mean that a Husband and Wife, both working, "could" both get $900 each for earning under $80,000 each
+
$900 for The single income family bonus, if they are eligible for FTB part B
+
$900 per child, if eligible for FTB part A.
 
Old Feb 16th 2009, 2:45 am
  #22  
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Default Re: Australian Government Stimulus Payments

Originally Posted by krestsaf
If I used an agent to do my tax return the money will go there unless I call the tax office tomo and give them my address details?

IF I am a resident for tax purposes, as have passed the 183 day rule, did my tax return last year through an agent, as a resident....am i entitled??

cheers
Tax agent bit = Yes

Resident bit = They are working on income for the 2007/2008 year, so I would assume residence rule as at June 30th 2008.
 
Old Feb 16th 2009, 2:55 am
  #23  
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Default Re: Australian Government Stimulus Payments

Originally Posted by ABCDiamond
You would only be entitled to the Centrelink payment, not the Tax Office payment.

ie:
2 Payments, at $900 each, for the children if you receive FTB part A
and possibly:
1 Payment of $900, if one partner is also eligible for FTB part B.




Eligibility for these, relate to you being eligible for an FTB payment on Feb 3rd 2009.
This eligibility can be backdated by Centrelink for those who claim late, but are still deemed to qualify for FTB payments for that date.

Your payment "may" be delayed until the end of the year, depending on how Centrelink treat your claim.
Are you sure about the payment of $900 for FTB part B?

The Centrelink website states:

Single Income Family Bonus:

Recipients of Family Tax Benefit Part B $950 per family


Could it be due to 'lag' between legislative changes and website publishing?

Last edited by DunRoaminTheUK; Feb 16th 2009 at 2:58 am.
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Old Feb 16th 2009, 3:14 am
  #24  
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Default Re: Australian Government Stimulus Payments

I had a look at the legislation yesterday, and believe the reduction from $950 to $900 only applies to the tax rebate, not to the CL elements of the "stimulus packages."

Best regards.
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Old Feb 16th 2009, 3:15 am
  #25  
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Default Re: Australian Government Stimulus Payments

Originally Posted by DunRoaminTheUK
Are you sure about the payment of $900 for FTB part B?

The Centrelink website states:

Single Income Family Bonus:

Recipients of Family Tax Benefit Part B $950 per family


Could it be due to 'lag' between legislative changes and website publishing?
Yes, I am sure, it is now only $900

The website probably hasn't been updated yet. They are a bit busy these days...
 
Old Feb 16th 2009, 3:18 am
  #26  
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Default Re: Australian Government Stimulus Payments

Originally Posted by Alan Collett
I had a look at the legislation yesterday, and believe the reduction from $950 to $900 only applies to the tax rebate, not to the CL elements of the "stimulus packages."

Best regards.
You got me worried with that, but I'll blame Wayne Swan if I am wrong, as he told Centrelink the FTB payments are down to $900.
 
Old Feb 16th 2009, 3:23 am
  #27  
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Default Re: Australian Government Stimulus Payments

2009 Updated Economic and Fiscal Outlook
Single-Income Family Bonus

The Government is providing additional financial assistance to families who rely one main income earner. This includes, sole parent families and two‑parent families where one parent chooses to stay at home or balance some paid work with caring for children.

The Bonus will be a one‑off payment of $900 per family to every family entitled to Family Tax Benefit Part B (FTB‑B), irrespective of the number of children. The one‑off payment will be made in the fortnight commencing 11 March 2009 for families who receive their family assistance as fortnightly instalments.

The Hon Wayne Swan MP
and some extra bits :

For two‑parent families where the highest income earner has an income of $150,000 per year or less, and the lower earner has an income less than $22,995 per annum, they can still get the Single-Income Family Bonus.

They can still get the Single-Income Family Bonus on a joint income of $172,990 !!!!!!

I don't know what else to say... well I do, but I shouldn't say it...
 
Old Feb 16th 2009, 3:27 am
  #28  
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Default Re: Australian Government Stimulus Payments

Have a read of the Bill as it passed Parliament on Friday last, at:
http://parlinfo.aph.gov.au/parlInfo/...ec=1;resCount=

My reading is that the Single Income Family Bonus is now $900, but that the Back to School Bonus remains at $950.

Best regards.
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Old Feb 16th 2009, 3:33 am
  #29  
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Default Re: Australian Government Stimulus Payments

Originally Posted by Alan Collett
Have a read of the Bill as it passed Parliament on Friday last, at:
http://parlinfo.aph.gov.au/parlInfo/...ec=1;resCount=

My reading is that the Single Income Family Bonus is now $900, but that the Back to School Bonus remains at $950.

Best regards.
You do appear to be right on that. The FTB Part A related payments are $950.
 
Old Feb 16th 2009, 3:41 am
  #30  
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Default Re: Australian Government Stimulus Payments

Originally Posted by ABCDiamond
You do appear to be right on that. The FTB Part A related payments are $950.
Not Part B related payments then?
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