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has anyone else already got this money??
I got mine about 2/3 weeks ago. Now, the decision is in the High Court as to whether all the cheques will be approved.
So my question is...
If we have already got this money, will they make us pay it back by taking it out of our tax at the end of the finanical year??
What do you mean the decision is in the high court? Wasn't it passed through parliment months ago?
aus girl some silly person is taking the government to court to stop it being paid
jenn i doubt they will ask for it back
Well, I can't see how they could legally give it to some and not others.
The money that is coming in cheque form (or into your bank account) early April is from the ATO, that is paid to workers earning under a certain amount of money (I think $80 000) for the last financial year...it is totally different to the money that you have already received a few weeks ago (which was from centerlink) for single income families and for each school age child. You will not have to pay that back.
I got $900 into my bank account 2 weeks ago. I thought that was the one that you get if you earn under that $80 000. This is the one based on tax from last year yes???
Or is this one something different again? I got the $1000 in october last year and now this $900 which like i said, I thought was this new stimulus payment.
Or does this mean I get 2 lots of $900- one being for the single income family thing and one being that I earnt less than $80K last financial year?
The payment you recieved two weeks ago was from centerlink and is the single income family bonus.
The next payment due early April is for workers earning under $80000, that will be paid by cheque or direct deposit (same as how the worker got their last tax refund paid). This is paid by the ATO.
Both payments are part of the stimulus package.
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.
Ok... i think i get it now... OMG... how confusing!!!!!!!!!!!
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.
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
Does anyone know if the high court thingie has been sorted out?
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.
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.
I am filled with disgust at the people who took it to the high court!!! I NEED that money, I know its a bonus but it is the difference between paying and not paying bills for us atm.
DITTO mrsmac
i think the high court will announce it at 10.15am this morning.
I hope it passes through.
All tax paying Aussies deserve it.
It got through. Payments will start on Monday.
WOO HOO!!! Wonder how long it will take to get it? they said on the ATO site that people who lodged their tax returns already get paid first.
So glad now i can get my car rego'd... YAY
any one know if there is a wayto see with the ato when it should arrive?like with the cl site?
:dance:WOOT
they rekon on the ato site payments will start on monday the 6th april WOOT thats going to pay for my fet :dance:
cant wait and we got them to put it into our bank accounts so no one could steal our mail pmsl and might get it quicker too lol :p
yay!!!
this will pay for my rego and deposit on the celebrant for the wedding!1 YAY!!!