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Found this....
Household Assistance Package
And then tacked on the bottom is a one line sentence about the biggest and most impressive reform they have going imo, and I haven't heard anyone say anything about it! They are more than doubling the Tax-free threshold to $18700! That is HUGE. Why is nobody happy about this?
it's 18200 Lime - and it's not been made into a big deal this year as it was announced as part of the carbon tax announcement last year. the tax free threshold is going up, low income offsets going down, and tax rates when you're over that 18200 are up for 12/13 year and will go up again in 13/14
Personal tax changes (clean energy)
the details about the tax changes, from the ATO website
No I get that BG, but tax rates over that are really irrelevant to a person living on the poverty line anyway making under $18k a year anyway, which is my point. It may have been announced last year, but it is happening now, I would want to be reminding people of that. That is a partime working mum's wage tax free, huge. That is the income support payments for a year tax free.
Instead of people getting excited about a hand out and one off payments, they should be getting excited about the real important things, like finally recognising that TFT needs to HELP people, this can HELP people long term, in a real way.
with low income offsets, people on only income support rarely paid tax anyway
i agree it's important, but because it's not a new announcement, it's not news worthy. it doesn't sell papers the way that these cash injections do. Shows like Today can't misquote tax figures and cause controversy between the haves and have nots. the tax free threshold is across the board. everyone has exactly the same benefit so it isn't going to make the same waves....
hmmm can you tell i'm a little jaded by mainstream media and the inability to simply print the facts? it confuses people, causes controversy - and gets no one anywhere! not to mention making my job harder :)
Thankyou so much!! That clears it all up for me :):
you're welcome!:
The change in the tax free threshhold and the low income tax offset is just a juggling of figures. The current financial year, they apportioned more of the LITO during the year as part of the tax tables, rather than leaving most of it till the end of the year. The increasing of the TFT in the 2012 FY is the next part of it. Really it means more in your pocket now and less tax return. So those who normally expect a certain $ of tax return will be a bit disappointed this year and certainly with the following if they don't realise this.
Oh, the Flood levy finishes, handy to know for the main income earner.
What I think is great are the changes for Super for those earning less than $37000
From Treasury:
:
From 1 July, effectively no tax will be paid on the super guarantee for the 3.6 million workers earning up to $37,000 a year. By providing this concession, more money - up to $500 a year - will be directed into the retirement savings accounts of those workers who need it most. This is in addition to the increase in the super guarantee.
I have tried to make heads and tails of the clean energy stuff but it's just going over my head.
We get full amounts of both tax benefits a and b, I get partnered parenting payment and my partner gets carers pension and carers allowance - we have 3 kids (2,8 & 14).
Does anyone know what we would be entitled to???
BerrySweet, I'd check online services if I were you. All payments are being paid by the 28th of this month & for me it showed up today, 2 days before I'll be receiving it, with my FTB. So yours should be due with your next FTB payment & you may already be able to see what you're entitled to :)
I *think* that the Partnered PP people were getting it over the June payments? I know mine hasn't come through yet, due 29th May, but Single PP were getting it EARLIER than the Partnered PP recipients.
the details of how much are in the link i posted on the previous page (it's the guide to all payments - the clean energy stuff appears from page 35onwards)
from the c'link site HERE:
Family Tax Benefit customers from 16-29 May 2012
pensioners from 28 May – 8 June 2012
other income support recipients from 11 – 22 June 2012
Seniors Supplement customers on 25 June 2012.
PPS is paid through the same system as aged/disability/carers pensions, so will be paid starting next week (and paid over that fortnight), ppp is deemed an "other" income support payment so payments will start June 11 and be paid in the fortnight after that date
it will show on your online services 2 days before it hits your bank account (which would generally be the same day you're due to be paid)
Does anyone know when the Education Tax refund will be going through and is it correct that it's an automatic payment and we don't need to make a claim? TIA.
Regards,
Dianne
Diane, I think it's going to happen from about the 20th of june, and it will be automatic so you don't have to put in a claim. I don't know though if all the payments will be made on that date or if they will go out with your FTB payments like the clean energy ones did.
Yes Di and Trills and it will go into your account with the FTB.
I had an argument with the lady working in a school uniform shop last week who told me to keep my receipts for my tax return. She told me I was wrong about the Education Tax refund being scrapped for the Schoolkids Bonus Schoolkids Bonus | Australian Government Department Families, Housing, Community Services and Indigenous Affairs
No wonder there is so much confusion out there ATM!
most payments will be made between 20 and 29 of June
Thanks ladies.
Regards,
Dianne
Sorry to bump this again - does anyone know what will happen with the school kids bonus if you're not due a FTA payment between 20-27th June?
Also, when will the payments appear on the centrelink online portal? Will it be the day the payment is processed like the energy bonus?
it's not going to be paid with your normal ftb payments - it's only a 10 day window - there will be a separate pay run - it may or may not coincide with your ftb payment. it will be a case of a certain percentage of all eligible payments made each day to spread them over that window of time
It will show on the payments on your online services 2 working days before the money goes into your account (so if it's going to go in on wednesday it will show up on monday)
Thanks BG - will keep an eye out on the online screen :)
With any luck it'll be alphabetical by surname - I'm a 'B' so I'll be near the front of the queue!!
no it's not done alphabetically, i promise!
*sulks* you dashed my hopes then!!
The kids are hanging out for the money as I've promised them $100 each from it - if I have to wait then so will they!!
they'll have to learn patience - it's a trait they'll need lots in life!
My education payment is showing online to be paid on Wednesday. Yay :)
Am I right in thinking that because we claim FTB A and B at tax time in a lump sum, that we don't get the household assistance package until we put it through our tax next month?
Been watching our bank account remain empty and it's dawned on me that this might be the case.....?
I have been wondering the same thing!:
Hopefully BG will be able to sort this out for us but I was under the impression that we wont get it until next financial year is reconcilied, as in 2012/13. Praying I'm wrong though.
I should point out I read that online and I find FAO confusing at the best of times.
Does the same go for ETR as well?
We got ours already, but basically spent on car mechanical repairs. At least it was $1000 we didn't have to try and find to fix the car.:
Sounds right!:
If yiu are current and it automatically reconciles you may still get your payments. But if you do a new claim each year it won't
Thanks BG. We do a new claim each year.