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

stevejack (Steve) · #1 03-02-2009, 03:35 PM

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

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

Thoughts/opinions?

iceman (Mike) · #2 03-02-2009, 03:38 PM

What $950 bonus?

erick (Eric) · #3 03-02-2009, 03:40 PM

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 (Eric) · #4 03-02-2009, 03:42 PM

Quote:

Originally Posted by iceman

What $950 bonus?

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 (Steve) · #5 03-02-2009, 03:44 PM

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 (Duncan) · #6 03-02-2009, 04:01 PM

Quote:

Originally Posted by 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.

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

JethroB76 (Jeff) · #7 03-02-2009, 04:06 PM

Quote:

Originally Posted by 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.

Are those figures for individuals or families/couples?

stevejack (Steve) · #8 03-02-2009, 04:07 PM

Off the cuff here is a basic news story outlining it;
http://www.news.com.au/business/stor...88-462,00.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 (Duncan) · #9 03-02-2009, 04:55 PM

Quote:

Originally Posted by stevejack

Off the cuff here is a basic news story outlining it;
http://www.news.com.au/business/stor...88-462,00.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

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

renormalised (Carl) · #10 03-02-2009, 04:59 PM

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

Omaroo (Chris Malikoff) · #11 03-02-2009, 05:28 PM

Quote:

Originally Posted by 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.

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

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

ngcles · #12 03-02-2009, 05:46 PM

Hi Toryglen-boy & All,

Quote:

Originally Posted by toryglen-boy

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

That is exactly why you were selected to become a taxpayer

.

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

.

Quantum theory looks simple by comparison.

Best,

Les D

rogerg (Roger) · #13 03-02-2009, 06:04 PM

Quote:

Originally Posted by stevejack

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

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

Thoughts/opinions?

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

qld · #14 03-02-2009, 06:10 PM

Quote:

Originally Posted by ngcles

Hi Toryglen-boy & All,

That is exactly why you were selected to become a taxpayer

.

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

.

Quantum theory looks simple by comparison.

Best,

Les D

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.

JimmyH155 · #15 03-02-2009, 06:35 PM

Well I am on the dole

I'LL BELIEVE IT WHEN I SEE IT.

I Dont trust them as far as I can throw them...

gmbfilter (Geoff) · #16 03-02-2009, 06:49 PM

Not so loudly the price will so up!

stevejack (Steve) · #17 03-02-2009, 07:14 PM

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 · #18 03-02-2009, 07:26 PM

Upwards of 100k they can probably afford nannys and cleaners chris

So $950 aint a lot of cash .

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

Dog Star (Phil) · #19 03-02-2009, 07:42 PM

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!!

I've wanted one ever since I read about them.
AND I'll buy the flamin' thing in Australia!

Gargoyle_Steve (Steve) · #20 03-02-2009, 09:19 PM

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.)