$900 Stimulus (sp) money

[mrsmac]

I hope we still get this, we are desperate for this money as we got none of the other cash and are in a complete financial mess.

[BrightSparkles]

Ok... i think i get it now... OMG... how confusing!!!!!!!!!!!

[Marlene]

Jennjora....if your DP/DH earned under $80 000 he will get the ATO bonus.
If you worked even part of last financial year and earned under $80000 and more than $11 000 you will also get the bonus.

Here is an example I found online:

The Single Income Bonus is based on your entitlement at 3 Feb 2009. So long as you were receiving FTB-B and qualify at that date, Centrelink will automatically pay you the $900 for for your household between 11 and 20 March. (You have already received this jenn)

The Tax Bonus is a little more complex, and depends only your adjusted tax liability for the 2007/08 financial year.

Easy check:
If you lodged a return and earned under $11,000, it?s a sure bet you wouldn?t qualify.

Detailed instructions:
Take alook at your Notice of Assessment for 2007/08 (this is the letter the ATO sent you after they processed the tax return you sent). There are assessment codes down the right-hand side of the letter corresponding with figures. The calculation is simply A+O-G. If the amount is more than nil, you will receive the tax bonus payment.

Tax on Taxable Income (A) + Medicare Levy (O) - Rebates and Other Credits (G): if any of these items are missing, you can ignore them for this calculation.

Provided your offsets didn?t exceed your tax liabilities (ie. at the end of the day, you paid some tax) you will automatically receive the tax bonus. This is paid by the Tax Office from early April.

[BrightSparkles]

Thanks girls.
I think i get it know.. (hopefully) guess i'll wait for the high court to hopefully approve everything now and wait for the $$$ to come!
I need it! LOL

[Jaycee]

Does anyone know if the high court thingie has been sorted out?

[Pandora]

not yet, at least it has not been reported.
Its the full bench of the high court who have to decide, so 7 judges.
High court decisions are notorious for taking ages (months..), and the ATO wanted to start paying these on Monday April 6 so are pushing for it to be decided by then.

[Toomanytoomany]

The High Court expects to make its determination on Friday. However, the ATO says it needs to know by COB tomorrow, as it was going to start sending out the cheques/EFTs on Monday. Mucking things up will push the payment into the busy May/June/July time and may delay payments significantly.