So who's buying an Ethos with the $950 bonus?

[stevejack]

haha sorry couldn't help but throw that out there. :rofl:

I wonder how many people will leave it in the bank? Or just buy something online (from overseas).

Thoughts/opinions?

[iceman]

What $950 bonus?

[erick]

Dat's a lot of money:-

Economic stimulus package


A $42 billion package consisting of:

$14.7b for school infrastructure and maintenance
$6.6b for community and Defence housing
$2.7b small business tax break
$890 million for community infrastructure and road improvements
$8.2b tax bonus for those earning under $100,000
$1.4 billion for single income families
$20.4 million for farmers in hardship
$2.6 billion for children going back to school
$511 million for students and unemployed returning to training
Free ceiling insulation for around 2.7 million homes
An increase to the solar hot water rebate of $600 and a doubling of the Low Emissions Plan for Renters to $1,000
A $22.5 billion deficit for 2008-09, $35.5 billion for 2009-10, $34.3 billion for 2010-11 and $25.7 billion for 2011-12
This year's deficit is 1.9 per cent of GDP, while next year's will be 2.9 per cent of GDP
Growth after the package is released is forecast at 1 per cent for this year and 0.75 per cent for 2009-10
Unemployment forecast to rise to 7 per cent by June 2010 Economic stimulus measures already taken by the Federal Government include:

A $10.4 bilion stimulus package consisting of; $8.7 billion of one-off cash payments to pensioners and some families; $1.5 billion to double the first home owners grant for exisiting houses and triple it for new homes; $187 million for 56,000 new training places in 2008-09; plans to bring forward various infrastructure projects in 2009
A guarantee on all bank deposits - however an insurance premium now applies to deposits over $1 million
A $3.4 billion assistance package for the car manufacturing industry
$4.7 billion for a range of transport, rail, road and education infrastructure
$4 billion fund in partnership with the banks to help prop up the commercial property sector
Small businesses can defer 20 per cent their December PAYG installmentBusinesses given 10 per cent allowance to spend on capital over the next 12 months

[erick]

Here it is:-

Those earning up to $80,000 are eligible for a tax bonus of $950, while those earning between $80,000 and $90,000 will receive $600 and those earning between $90,000 and $100,000 will receive $300.

[stevejack]

Sorry I should have put in a link or some explanation!

Eric's nailed it - It should be paid to those who are eligible from April.

[toryglen-boy]

can we get some linkage? i dont understand the Australian taxation system at the best of times.


:)

[JethroB76]

Are those figures for individuals or families/couples?

[stevejack]

Off the cuff here is a basic news story outlining it;
http://www.news.com.au/business/story/0,27753,25001488-462,00.html

Quote: "The remaining third of the plan is an immediate injection of $12.7 billion in one-off bonus payments of $950 each for low- and middle-income households and individuals through five bonuses to be paid in the next few weeks.

It means 8.7 million workers earning $100,000 or less will receive a lump sum payment of up to $950 each from April".

Sounds like it makes a distinction between household and individual..?

Cheers

[toryglen-boy]

i wonder if that applies to non-citizens, and perm residents?

:shrug:

[renormalised]

If you pay taxes, and you're registered with the taxation office, you'll get it just like everyone else.

[Omaroo]

So what's wrong with people that earn over $100,000?

$100k these days isn't very much at all ...

[ngcles]

Hi Toryglen-boy & All,



That is exactly why you were selected to become a taxpayer :thumbsup: .

I've lived my whole life here (47-odd yrs) and I gave-up trying to understand it years ago :shrug: .

Quantum theory looks simple by comparison.


Best,

Les D

[rogerg]

Ordinarily it would go straight on the home loan for me.... but I have to admit, this time is different. Today it is conveniently timed to cover part of the cost of my new WO Megrez 90 APO I ordered this morning :whistle: :D

[qld]

the announcement today concerning the injection of 42m,is simply targeted at marginal seats for an early election,there are no programmes in the announcement that go towards long term stragetic infrustructure investment....the experiment with the pensioners not only failed the pensioners but it did not give the economy the stimulus it was hailed to do as the xmas period spending went on at the last moment anyway.It failed the poor old pensioners,because the constitution of Australia guarantees the pension to all,this hand out will not be repeated and was simply aimed at getting the grey vote at the next election.....politics today is about staying in power not about good governance.For those of you interested in NSW politics you should all be aware that yesterday the head office of nsw Health at North Sydney closed its office to watch the Superbowl telecast,the event was lavish and fully catered for guests arrived by invitation....during the superbowl hospitals in nsw were without medical supplies,payment of creditors and airconditioning during the 40 plus climate temp...the minister spun the usual line that during the heat of the day all that was possible was being done and where necessary pedestal fans were made available to those in need.So thats where your tax money goes...bit like the rebate on the m5 too diffucult to collect for most and in the end no one is accountable...how many of you voted for these outcomes continue to amaze me.....but dont complain when a relative or close friend dies in a hospital next time remember the superbowl its more important.:whistle:

[JimmyH155]

Well I am on the dole:D I'LL BELIEVE IT WHEN I SEE IT.:mad2: I Dont trust them as far as I can throw them...

[gmbfilter]

Not so loudly the price will so up!

[stevejack]

OK, to prevent this from falling into a political debate let's keep it focused on the original question:

For those who are eligible, do you think you will you be using this as it's intended; to buy something you desire (astronomy gear for example) within our own borders?

Will you keep it in the bank?

Will you spend it on overseas orders? or perhaps use it to pay off an existing debt?

No wrong answers ;)

[GrahamL]

Upwards of 100k they can probably afford nannys and cleaners chris ;)
So $950 aint a lot of cash .


Viva Socialism:thumbsup: ..someting astro will be needed for sure by then

[Dog Star]

Lemme get this strait.
I earn roughly $45,000 PA after tax.
In April, I will receive a $950 cash payout?
That's not a tax rebate? That's a cash amount?
My bloody "fur coat" I'll be buying an Ethos!! :D:lol:
I've wanted one ever since I read about them.
AND I'll buy the flamin' thing in Australia!:)

[Gargoyle_Steve]

I hadn't heard anything about this payout until now, but I won't plan any spending because I simply don't believe I'll see any of it.

I pay my tax on a quarterly basis - I don't own a business but neither am I on the PAYE tax scheme - but I bet I won't get a red cent of this.
(VERY happy to be proved wrong if you happen to be reading this Mr Rudd!)

Nearly everyone I know received last Decembers payout to those who receive Centrelink benefits, ie age, disability, unemployed, etc. As I work hard for my money I didn't see any of that.

(Don't get me wrong, those how have worked hard all their lives and are now retired deserve a decent break. I DO have issues however with those who have NEVER worked a day in their lives and YES I do know some people in that boat, who seem to get every perk the government throws around.)

[Ric]

I'll do my bit to stimulate the economy. Theres a certain ED80 I had my eye on plus a few accessories.

Cheers

[leon]

Well I wont see a penny, it seems if you are unemployed, you don't get a cent, ah well, same old story.

Leon

[renormalised]

Didn't see a brass razoo of it and I'm, at present, in that last category. I know others that did get it...mostly kids on Centrelink payments, pensioners, students (but not postgrads like myself)...and I probably won't see any of this one either. If I did, I'd consider myself very lucky.

[JohnG]

You got that right Leon....

In the same boat, no income, seems that age of between 60 to 65 no one wants to know you...

Cheers

[TrevorW]

Like the Xmas bonus the idea is too stimulate the Australian economy unfortunately if you don't spend it on products made in Australia then all you money goes oversea's so what good does it do.

[spacezebra]

Hi guys

Well, I have some astro gear that I have my eye on :D and this bonus will take the pressure of my astro fund.

Now all I need to do is convince David that he needs to contribute his bonus to my astro fund also:lol:.

Cheers Petra d.

[tornado33]

Ahh no, not correct at all. I work at a local shopping centre, amd MY GOODNESS things went hypo when Kevin Rudds forst stimulus package was paid out. The manager said they did better than at any time in the store chain's history, sales were through the roof. People were on a spending spree.

The rest of your issues are state related, and I blame the State Liberal party. They FORCED me to vote Labour, I had no choice but to, as the fool Peter debman said he would move all workers on to the draconian Work Choices, the most disgraceful piece of legislation in Australia I have ever seen in my 43 years on this Earth.

If John Howard won the last election this would be his response to the world finincial crisis, Workchoices Version 2.0

1 Increase the working week to 45 or 50 hours/week
2 Scrap all public holidays including Christmas Day
3 Cut the minimum wage to a similar level to what it is in the US
4 Scrap Medicare. If you cannot afford to pay, you die.
5 Make unionism and all strikes illegal.
6 Cut the Dole, let people starve.

I know beyond all doubt my living standard would plummet under another Howard/Costello term. I sleep so much more easily at night knowing Kevin Rudd is Prime Minister. Julia Gillard is excellent too :)

The local astronomy businesses here could well benefit from the $950. I do worry what will happen to the excellent astro businesses we have here, and indeed the makers of the products they sell. If people can buy more astro gear with any govt. bonuses then please do so, support your local busineses if you can. If the opposition was in power, thered be no bonus payments to hard working Australians I can assure you.

[andrew2008]

So it's not just families earning in those brackets??
My partner and i living together, both earn under 80k, no children can expect it??

Really not getting my hopes up on this coming through. If not a 1000d or ED80 is most certainly on the cards:-)

[JethroB76]

Don't think childless couples will see much..

[matt]

Hmmm.

Think I'll go for a browse at a few photo shops on the weekend.

Got my eye on a few Canon lenses.

Thanks Unky Kev:D

[stevejack]

Interesting comments!
For the unemployed; I may be completely wrong here but I would assume it would be saved and not spent (only judging by what I would do)? With the desired outcome being to spend spend spend the govt would possibly be criticised if the currently unemployed were included in the bonus payments (which for all I know they may indeed be?)

Over $100k earners would possibly spend it - but the other side of the argument would be that those earning that amount are spending their share already and really the package is designed to boost the majority of the population who aren't quite spending enough.
Notice they aren't handing out food vouchers here - it's purely designed to encourage people to buy non-essential items.

I'm in no position to comment on whether or not this will be effective (though I have my opinions :lol: ) but I think it's all pretty interesting.

And centrelink's not all bad - I spent a couple of years working (factories/farms/shearing sheds etc) before I went to uni so I could claim study payments and they helped a lot. Last year I was also lucky enough to score a postgrad scholarship which should keep me going for the next few years - a good position to be in considering the current climate :thumbsup:

[astroron]

My $ 1400 from Kevin before Christmas went in one day and A lot of people I know who received it also spent most of, if not all of it

[erick]

Pentax 16-45 f4 zoom :prey:

[andrew2008]

http://www.pm.gov.au/media/Release/2009/media_release_0778.cfm

These five key bonuses include a:

Tax Bonus for Working Australians of up to $950 paid to every eligible Australian worker earning $100,000 or less. This will support up to 8.7 million individuals.
$950 Single Income Family Bonus to support 1.5 million families with one main income earner.
$950 Farmers' Hardship Bonus paid to around 21,500 drought affected farmers and farm dependent small business owners receiving exceptional circumstances related income support.
$950 per child Back to School Bonus to support 2.8 million children from low- and middle-income families.
$950 Training and Learning Bonus paid to students and people outside of the workforce returning to study to help with the costs of education and training.

[renormalised]

We'll see....until it's in my wallet and/or bank a/c, I'll believe it when I see it.

[Craig.a.c]

I'm single and earn less then $40,000 a year.
Will I see any of this bonus?


Sorry I don't understand pollitics, economy etc. That why I am just a "rent-a-cop".

[monoxide]

im just a 'dumb fisherman', bet i dont get a cracker ;)

there are some people that really work hard and struggle to get the bills paid let alone buy all sorts of other gear so i keep that in mind and hope they get theirs before i worry about my own. a $950 bonus can make a huge difference for them.

remember them before you ask where yours is! especially if your on a decent wage already. i know you'd think you deserve it too but the living standards between a 50k wage or less and a 100k+ wage are very different.

[TrevorW]

[quote=monoxide;408170]im just a 'dumb fisherman', bet i dont get a cracker ;)

Never think of youyrself as a dumb anything

remember the saying "dumber is that dumber does"

If you earn under $100000 and submit a tax return as I read it you'll get something

A lump-sum payment of up to $950 will be made to eligible taxpayers from April 2009. The bonus will be available to Australian resident taxpayers who paid tax in the 2007-08 financial year after taking into account available tax offsets and credits.

The bonus is subject to an income threshold test which determines that a:

• $950 bonus will be paid to eligible taxpayers with a taxable income of up to and including $80,000;

• $650 bonus will paid to eligible taxpayers with taxable incomes exceeding $80,000 and up to $90,000; and

• $300 bonus will be paid to eligible taxpayers with incomes exceeding $90,000 up to and including $100,000.

Taxpayers will not need to apply for the payment. The Australian Taxation Office will automatically make the payment after determining eligibility.


Cheers :thumbsup:

[Stuart78]

Dunno if anyone has posted this yet but here is info on the bonus payments..


http://www.centrelink.gov.au/internet/internet.nsf/individuals/bonus_payments_feb2009.htm

[tornado33]

Its now a moot point what we do with the payment, as the fools that are the Liberals will block it, they announced it today.
link (http://www.news.com.au/business/story/0,27753,25006467-462,00.html)



The prediction of 7% unemployment was WITH the economic stimulus package, blocking it will see that rate well above 7%, and every job lost will be upon Malcomb Turnbulls head! Blame him for costing each of you who would have got the payment, the payment.

[Spanrz]

I think the libs would be stupid to block it.
They will be holding Australia back and only helping the unemployment to go higher, only a knee jerk reaction to oppose spending.

But I like the difference between the P.M's website and Centrelink's page.
Missing that one key factor of the "eligible worker payment" on the Centrelink page. LOL.
Got to love that communication.

[iceman]

Ok this thread is done.