Economic stimulus package
#1
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Thread Starter
Joined: Oct 2006
Location: Adelaide
Posts: 3,162
Economic stimulus package
Hi all,
I am trying to work out if I am elegable for the $900.
It says that as long as you paid 'net tax' then you are (that is the bit I am confused about, not the other bits).
I paid tax, but not a huge amount, which I got all of back because of health insurance and purchaces for work. Does that mean I do not get it?
Also, someone told me that there was a theshold of $11k which if you earnt under that you do not get it, but I can't find anything saying that.
Thanks very much for any info.
I am trying to work out if I am elegable for the $900.
It says that as long as you paid 'net tax' then you are (that is the bit I am confused about, not the other bits).
I paid tax, but not a huge amount, which I got all of back because of health insurance and purchaces for work. Does that mean I do not get it?
Also, someone told me that there was a theshold of $11k which if you earnt under that you do not get it, but I can't find anything saying that.
Thanks very much for any info.
#2
BE Forum Addict
Joined: Mar 2009
Posts: 1,289
Re: Economic stimulus package
Hi all,
I am trying to work out if I am elegable for the $900.
It says that as long as you paid 'net tax' then you are (that is the bit I am confused about, not the other bits).
I paid tax, but not a huge amount, which I got all of back because of health insurance and purchaces for work. Does that mean I do not get it?
Also, someone told me that there was a theshold of $11k which if you earnt under that you do not get it, but I can't find anything saying that.
Thanks very much for any info.
I am trying to work out if I am elegable for the $900.
It says that as long as you paid 'net tax' then you are (that is the bit I am confused about, not the other bits).
I paid tax, but not a huge amount, which I got all of back because of health insurance and purchaces for work. Does that mean I do not get it?
Also, someone told me that there was a theshold of $11k which if you earnt under that you do not get it, but I can't find anything saying that.
Thanks very much for any info.
($11k less $6k tax-free = $4k multiply by 15% = $750 tax due less $750 low-income offset = $0 tax payable)
#3
Re: Economic stimulus package
If someone earned $11k last year (and had no deductions for health insurance and purchases for work), they would have ended up with a tax bill of $750. But because they were also entitled to the low-income tax-offset of $750, they would have paid $0 tax - and therefore would NOT get the $900.
($11k less $6k tax-free = $4k multiply by 15% = $750 tax due less $750 low-income offset = $0 tax payable)
($11k less $6k tax-free = $4k multiply by 15% = $750 tax due less $750 low-income offset = $0 tax payable)
#4
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Joined: Oct 2006
Location: Adelaide
Posts: 3,162
Re: Economic stimulus package
bugger. Thanks very much ozhappy981.
#5
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Joined: Feb 2007
Location: WA but not forever!!!
Posts: 943
Re: Economic stimulus package
If someone earned $11k last year (and had no deductions for health insurance and purchases for work), they would have ended up with a tax bill of $750. But because they were also entitled to the low-income tax-offset of $750, they would have paid $0 tax - and therefore would NOT get the $900.
($11k less $6k tax-free = $4k multiply by 15% = $750 tax due less $750 low-income offset = $0 tax payable)
($11k less $6k tax-free = $4k multiply by 15% = $750 tax due less $750 low-income offset = $0 tax payable)