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Economic stimulus package

Economic stimulus package

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Old Apr 15th 2009, 8:59 am
  #1  
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Default 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.
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Old Apr 15th 2009, 9:19 am
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Default Re: Economic stimulus package

Originally Posted by pumpkin blossom
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.
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)
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Old Apr 15th 2009, 9:54 am
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Default Re: Economic stimulus package

Originally Posted by ozhappy981
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)
I am in the same boat, I earned about $11000 and paid about $950 tax and got it all back in my tax return. I did pay for private health car for the year and was wondering if this would make any difference?
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Old Apr 15th 2009, 10:11 am
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Default Re: Economic stimulus package

bugger. Thanks very much ozhappy981.
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Old Apr 15th 2009, 10:26 am
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Default Re: Economic stimulus package

Originally Posted by ozhappy981
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)
Unfortunately this was me to. I worked for half the year part time after returning to work after having my first 2 kids. Really could do with the extra $900 right now but hey ho at least hubby gets it.
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