I haven't and everybody I know hasn't. But by the sound of it come May we're going to be giving it back... as if we didn't know.
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I haven't and everybody I know hasn't. But by the sound of it come May we're going to be giving it back... as if we didn't know.
Got mine about 10 days ago but my wife is still waiting for hers.
Some of mine might have to be spent on a new thicknesser as my existing one is sick (maybe terminal)
Both of us have got ours.
Of course state and federal taxes, excises, fees and charges will rise, as they normally due at budget time. It is the way of the world.
Chap at the next desk has recieved his, his sirname starts with A, don't know if that matters.
I remember a time when every budget included tax increases. We have had a good run these last some years with tax rates falling, couldn't last forever I suppose...especially when giving tax breaks only encourages people to borrow more, spend more and save nothing.
Got mine in the post on Tuesday, I start with a "W", the wife didn't get hers yet but I am starting to wonder.
$900 in the letterbox from Mr Rudd and in the same delivery a request for $1100 from Mr Mastercard. These were left on the bench for me, hmmm Me thinks possible foul play at hand.
If you are lucky, you might notice new sheets or some household stuff miraculously appearing, before that new dress, the new shoes/handbag/jewelry to match . . . .Quote:
Originally Posted by rotten_66
And it's no bet that you do not put much stuff on the card . . .
LOML and I got our cheques last week.
Ive got my eye on TS, She has her eye on my cheque:oo:
I havent got mine yet, but I suppose i need to do last years tax return fist. I know the money is good and comes in handy for a lot of things, BUT how much is it going to cost us in the end. :o
A lotQuote:
Originally Posted by cytan
SWMBO and I just got ours tonight paid into the bank. Should I tell her?:wink:
Glenn
well wife got her $900.00 me i got $250.00 is that discrimination .lol
All we got from Kevin was a reminder to do a 'swab' for colon cancer. That's what you get for your 55th birthday now.
Second in charge says we don't qualify because they add the taxable incomes together for married couples. It's not how I read it but what would i know.
Graham
They don't add the incomes together, so as long as you earn under $80,000 you pick up the $900 (providing you pay some tax in the first place).
Quote:
Originally Posted by johnc
Thanks for that advice, John. But who am I to argue?
............and how come I didn't get the free colon testing kit when i turned 55?
Graham
Don't know, the wife got hers at 50, perhaps they don't think you or I are worth the effort.:C
I believe the australian workforce is about 12.5 million. My understanding is that anyone who submitted a tax return in 08 gets the cheque. Obviously some people earn too much, some who are not part of the workforce will submit returns. So multiply $950 by say 12 million and then add interest. Say 10 - 12 billion.
18 months.
I got my little cheque last week. The missus has received nothing as yet.
I'd prefer they kept the money and put it into the health system or something useful. We had a woman lose a baby near here last month because there was no obstetrician on duty at the hospital. The small amount of cash they gave me is going to make SFA difference to anything but if you multiply that by millions, many/most of whom got the full $900, that's a lot of doctor/nurse salaries.
Couldn't agree more.
Not me, but then I haven't paid tax for over 15 years,and thank god I don"t.
Quote:
Originally Posted by Pheonix
I pay tax quarterly via my BAS so I don't get a personal tax return
SO I get nothing
And that SUX
Check to see if you qualify
http://www.ato.gov.au/corporate/cont...t/00181138.htm
As an accountant that doesnt sound right.Quote:
Originally Posted by nev25
What you pay with your BAS is tax instalments (IAS). They go as prepaid tax towards your annual tax return that still needs to be done. As a business you have right up to June to do your annual tax return so your accountant may still have extensions and might not have done it yet.
Also i think it is only for "personal tax payers" not businesses - but not real sure on that.
Hope that explains it.
Cheers
Its for anyone that pays tax, business or wages, doesn't matter. Ditto for everything else though:2tsup:
Can I send the first one back (haven't received the second one yet) with interest payable from when it was payed to me to today's date? I'd rather pay the interest on it now than for the next 20 years or so.
It's gonna bite us on the :bartmoon: :C
My Understanding is you have had to get a tax return (IE a refund) not just a lodge a tax returnQuote:
Originally Posted by johnc
I'm told the simple formula is look at your assessment notice from 2008 if you have lodged and go A + O - G. If this figure is greater than zero then you qualify
Got the letter but not the money.
:think: Somethings not right.
You aren't right. :D
Thats right you mustn't get a full tax refund of any tax paid, or have your tax bill fully met by franking credits. So if after your 2008 return is lodged the government keeps at least some of your PAYG you get the bonusQuote:
Originally Posted by nev25
So as said
Quote:
Originally Posted by nev25
ours are all gone... VISA! :- :( :(( :rolleyes:
actually it's your taxable income provided it's under $80k you get the whole $900, if it's more than $100k you get nothingQuote:
Originally Posted by johnc
but if you earn $120k and salary sacrifice $40k of it your taxable income is less than $80k so you get the whole $900
these were the rules for 2007/08
different rules apply for 2008/09
ian
Quote:
Originally Posted by ian
My point is I pay tax quarterly and don't get anything
NevQuote:
Originally Posted by nev25
are you an incorporated entity or a sole trader?
if the former I have no sympthy, if the later seek some better advice
ian
Sole TraderQuote:
Originally Posted by ian
Better advice from who??
Nev,
People who lodge BAS returns have to also lodge an annual tax return, all the PAYG collected is just an advance to the ATO against your annual tax. You are obliged to lodge a return, you do get an assessment, and providing you end up with an amount to pay (ignoring the tax credit from PAYG) you will qualify for the bonus subject to the upper income limits.
Phone your accountant or the ATO and see if you need to lodge any tax returns or if you qualify, it does seem you are very confused on this.
We were in Brisbane to see dying relatives and had spent all our cash but when I checked the bank Tuesday morning (after Easter Monday) there was $900 there. We spent it all before we came home, thus doing our bit to stimulate the economy. I feel like a very good citizen now. And we have two nintendo DS's for the two boys. It was hell with only one on the trip down, little whinging buggers;
as John C said
BAS is just the means the ATO uses to collect PAYG tax from you
You still need to lodge an annual tax return
ian
Just checked the bank account and my $900 has finally arrived :2tsup::):2tsup:
I was beginning to think they had forgotten about me.
And for those who are intersted I'm an "L" living in a "Q" suburb and my return done second week in July. I think that just about covers all of the different methods I've been told about the order of payments :cool::roll:
Quote:
Originally Posted by ian
Yeah did lodge an annual return didn't get a refund so don't get $900
Nev, if your taxable income was under $80k you will get the $900 - if less than $100k you will get a pro-rata amount between $900 and $0. It has nothing to do with whether or not you got a tax refund last year. Getting a refund just means you paid more tax in the year than you were required to. Some people will have been required to pay tax because they didn't pay enough during the year. They will still get the payment if their taxable income qualifies.
Being the instigator of the post I got my 900 buck cheque :yippy::yippee::happyb: in yesterdays mail as did several others, so this must be WA's week.