Mr Rudd's Flashin the cash!!

[Wilson]

Oh and I/we get 2850!!

 

[dibo]

from the original link

Media Release
$950 One-off Cash Bonus to Support Jobs

03 February 2009

The Rudd Government today announced five key $950 one-off payments for low and middle income households and individuals.

The Government is providing these cash payments to immediately support jobs and strengthen the Australian economy during a severe global recession.

These targeted cash bonuses are a key element of the Governments $42 billion Nation Building and Jobs Plan to support up to 90,000 Australian jobs.

To immediately stimulate the economy in the shortest possible time, five groups of one-off cash bonuses will be paid in March and April 2009.

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.

To support jobs in the middle of a severe global recession the Government must stimulate the economy in the most immediate manner possible.

That is why one off cash bonuses to people and families who are doing it toughest are a key part of our Nation Building and Jobs Plan.

These one off cash bonuses reflect the weight of economic authority including the advice of the International Monetary Fund that targeted one off payments rather than generalised tax cuts spread over a lengthy period are more likely to be consumed, and thus provide a more effective economic stimulus and provide more support for Australian jobs.

There will be no quick fixes, but the Government is determined to act swiftly and decisively to support Australian households, growth and jobs.

These cash bonuses will stimulate consumption quickly, supporting economic activity and jobs until our nation building initiatives have an impact.

This $12.7 billion package is a major economic initiative to deal with these extraordinary economic times and is in addition to the Economic Security Strategy that the Rudd Government delivered in December 2008.
Tax Bonus for Working Australians

The Government will provide an up-front, lump-sum tax bonus of up to $950 to around 8.7 million Australian workers earning $100,000 or less.

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.

Single Income Family Bonus

The Governments Single income Family Bonus will provide an up-front, one-off bonus payment of $950 to approximately 1.5 million families who receive Family Tax Benefit Part B (FTB-B). The bonus is intended to provide additional assistance to families with children that have one main income earner.

The payments, which will be made automatically by Centrelink in the fortnight commencing 11 March 2009, will be non-taxable and will not be counted as income for social security purposes.

The small number of families who claim FTB-B as a lump sum, will receive their one-off payments from Centrelink in 2009-10 and 2010-11 after their 2008-09 tax returns have been processed by the Australian Taxation Office.

Families who are eligible for FTB-B on 3 February 2009 will receive the Single Income Family Bonus.

Farmers Hardship Bonus

The Government will provide $20.4 million in 2008-09 for an up-front, one-off payment to farmers and rural-dependent small business owners receiving exceptional circumstances related income support.

A lump-sum payment of $950 will be made to people who, on 3 February 2009, are receiving:

    * Exceptional Circumstances Relief Payment for Farmers;
    * Exceptional Circumstances Relief Payment for Small Business;
    * Interim Income Support for Farmers;
    * Interim Income Support for Small Business;
    * Transitional Income Support; or
    * Farm Help Income Support.

The payments will be made in the fortnight commencing 24 March 2009, to approximately 21,500 recipients and will provide additional support to groups of Australians who are in hardship. These payments will not be taxable and will not be counted as income for social security purposes.


Back to School Bonus

The Governments $950 Back to School Bonus will provide a one-off, up-front bonus to be paid to families eligible for Family Tax Benefit Part A (FTB-A) on 3 February 2009 for each eligible child of school age (aged 4 to 18 on 3 February 2009).

This will help meet education costs for the 2009 academic year and is in addition to and separate from the Education Tax Refund.

The Back to School Bonus is expected to help 2.76 million children aged 4 to 18 in just over 1.5 million families across Australia.

Training and Learning Bonus

The Governments $511 million Training and Learning Bonus provides an up-front, one off bonus to eligible students to assist with the costs for the 2009 academic year. It also provides a temporary (until June 2010) additional incentive for social security recipients to return to education and training.

The Training and Learning Bonus consists of two categories:

Category 1

    * A one-off $950 bonus for recipients of: Youth Allowance (students and apprentices); Austudy; ABSTUDY and related payments
    * The one-off bonus will also be available to recipients of Sickness Allowance and Special Benefit (under age pension age).
    * If a student attracts the Governments Back to School Bonus they are not eligible for the one-off $950 Learning and Training Bonus.

Category 2

    * A temporary supplement (from 1 January 2009 to 30 June 2010) to the Education Entry Payment (EdEP) of $950. This is in addition to the existing EdEP payment of $208, which provides assistance with the costs of training courses, for income support recipients who are returning to study.
    * A temporary extension (from 1 January 2009 to 30 June 2010) of the EdEP to Youth allowance (other); and
    * A temporary relaxation (from 1 January 2009 to 30 June 2010) of the requirement that recipients must have been receiving social security payments from 12 months to 1 month.

Around 440,000 students and people returning to study will be paid this one off cash bonus.

don't need to apply, the ATO and/or centrelink do the eligibility test and sling you the dosh.

 

[Sean]

So when should the students expect this ticket to japan to watch kawasaki payment?

 

[Wilson]

Thanks DIBO!!

 

[dibo]

So when should the students expect this ticket to japan to watch kawasaki payment?

from the original link

Media Release
$950 One-off Cash Bonus to Support Jobs

03 February 2009

The Rudd Government today announced five key $950 one-off payments for low and middle income households and individuals.

The Government is providing these cash payments to immediately support jobs and strengthen the Australian economy during a severe global recession.

These targeted cash bonuses are a key element of the Governments $42 billion Nation Building and Jobs Plan to support up to 90,000 Australian jobs.

To immediately stimulate the economy in the shortest possible time, five groups of one-off cash bonuses will be paid in March and April 2009.

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.

To support jobs in the middle of a severe global recession the Government must stimulate the economy in the most immediate manner possible.

That is why one off cash bonuses to people and families who are doing it toughest are a key part of our Nation Building and Jobs Plan.

These one off cash bonuses reflect the weight of economic authority including the advice of the International Monetary Fund that targeted one off payments rather than generalised tax cuts spread over a lengthy period are more likely to be consumed, and thus provide a more effective economic stimulus and provide more support for Australian jobs.

There will be no quick fixes, but the Government is determined to act swiftly and decisively to support Australian households, growth and jobs.

These cash bonuses will stimulate consumption quickly, supporting economic activity and jobs until our nation building initiatives have an impact.

This $12.7 billion package is a major economic initiative to deal with these extraordinary economic times and is in addition to the Economic Security Strategy that the Rudd Government delivered in December 2008.
Tax Bonus for Working Australians

The Government will provide an up-front, lump-sum tax bonus of up to $950 to around 8.7 million Australian workers earning $100,000 or less.

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.

Single Income Family Bonus

The Governments Single income Family Bonus will provide an up-front, one-off bonus payment of $950 to approximately 1.5 million families who receive Family Tax Benefit Part B (FTB-B). The bonus is intended to provide additional assistance to families with children that have one main income earner.

The payments, which will be made automatically by Centrelink in the fortnight commencing 11 March 2009, will be non-taxable and will not be counted as income for social security purposes.

The small number of families who claim FTB-B as a lump sum, will receive their one-off payments from Centrelink in 2009-10 and 2010-11 after their 2008-09 tax returns have been processed by the Australian Taxation Office.

Families who are eligible for FTB-B on 3 February 2009 will receive the Single Income Family Bonus.

Farmers Hardship Bonus

The Government will provide $20.4 million in 2008-09 for an up-front, one-off payment to farmers and rural-dependent small business owners receiving exceptional circumstances related income support.

A lump-sum payment of $950 will be made to people who, on 3 February 2009, are receiving:

    * Exceptional Circumstances Relief Payment for Farmers;
    * Exceptional Circumstances Relief Payment for Small Business;
    * Interim Income Support for Farmers;
    * Interim Income Support for Small Business;
    * Transitional Income Support; or
    * Farm Help Income Support.

The payments will be made in the fortnight commencing 24 March 2009, to approximately 21,500 recipients and will provide additional support to groups of Australians who are in hardship. These payments will not be taxable and will not be counted as income for social security purposes.


Back to School Bonus

The Governments $950 Back to School Bonus will provide a one-off, up-front bonus to be paid to families eligible for Family Tax Benefit Part A (FTB-A) on 3 February 2009 for each eligible child of school age (aged 4 to 18 on 3 February 2009).

This will help meet education costs for the 2009 academic year and is in addition to and separate from the Education Tax Refund.

The Back to School Bonus is expected to help 2.76 million children aged 4 to 18 in just over 1.5 million families across Australia.

Training and Learning Bonus

The Governments $511 million Training and Learning Bonus provides an up-front, one off bonus to eligible students to assist with the costs for the 2009 academic year. It also provides a temporary (until June 2010) additional incentive for social security recipients to return to education and training.

The Training and Learning Bonus consists of two categories:

Category 1

    * A one-off $950 bonus for recipients of: Youth Allowance (students and apprentices); Austudy; ABSTUDY and related payments
    * The one-off bonus will also be available to recipients of Sickness Allowance and Special Benefit (under age pension age).
    * If a student attracts the Governments Back to School Bonus they are not eligible for the one-off $950 Learning and Training Bonus.

Category 2

    * A temporary supplement (from 1 January 2009 to 30 June 2010) to the Education Entry Payment (EdEP) of $950. This is in addition to the existing EdEP payment of $208, which provides assistance with the costs of training courses, for income support recipients who are returning to study.
    * A temporary extension (from 1 January 2009 to 30 June 2010) of the EdEP to Youth allowance (other); and
    * A temporary relaxation (from 1 January 2009 to 30 June 2010) of the requirement that recipients must have been receiving social security payments from 12 months to 1 month.

Around 440,000 students and people returning to study will be paid this one off cash bonus.

don't need to apply, the ATO and/or centrelink do the eligibility test and sling you the dosh.

might wanna read it next time? 

 

[Sean]

3 Feb? I read it and cant pick the date

 

[dibo]

3 Feb? I read it and cant pick the date

i bolded it for you

 

[Sean]

no you didnt!

 

[dibo]

no you didnt!

look again, chuckles.

So when should the students expect this ticket to japan to watch kawasaki payment?

from the original link

...cash bonuses will be paid in March and April 2009...

 

[Sean]

 

[dibo]

you're an arseclown mr. lacy. a rolled gold, twenty-four carat, you-can't-buy-these-in-stores arse clown.

 

[Ranyen]

To chech you eligibilty: http://www.ato.gov.au/content/downloads/cor00178930TA.pdf

Yes, you have to have lodged your 2008 Tax Return. A Cheque will be sent out, or if you had your refund deposited into a bank account that is still valid, it will go in there instead.

Quote: "If you have have not already lodged and you are concerned that this will put pressure on meeting your lodgment program please call us urgently". BTW, Returns were due for lodgement on 31/10/08 - unless your using a tax agent, then the due date id 15/5/09.

The email I got from the ATO specified Early April for payments. I work for a tax agent, I'm in the know....

 

[~Floss~]

Go to the PM's website, GOOGLE, ATO or Family Assistance website, read, my first post had a link????

Cheers, your link to the PM's site was helpful.
Initially I went straight to Google and read through a heap of news stories that didn't contain the crucial phrase "Taxable Income".

 

[dibo]

malcolm and the libs have made the 'courageous' (for all you 'yes minister' fans) decision to block the package - read this from the SMH

Turnbull bombshell: we'll oppose $42b package

Phillip Coorey
February 4, 2009 - 10:44AM

The Opposition leader Malcolm Turnbull has dropped a bombshell this morning by announcing the Coalition will block the Government's $42 billion economic rescue package.

After complaining that the deadline to have the legislation passed by tomorrow would not allow sufficient time for scrutiny, Mr Turnbull said the Coalition would oppose it in both houses.

"We know that this is not going to be a popular decision but it's the right decision,'' he said.

"Someone has to stand up for fiscal discipline.''

He said the package was too big, adding that $15 billion to $20 billion should have been spent.

Labor deliberately excluded tax cuts from the package because they impose a permanent cost on the budget bottom line and make it harder to restore the budget to surplus.

Furthermore, there are already tax cuts scheduled for July 1, which will act as a further stimulus, which Mr Turnbull wants brought forward.

He is also unhappy about the $12.7 billion in $950 bonuses to be given to millions of Australians.

"We do not support a further round of cash handouts,'' he said.

He does not believe instant spending measures work to stimulate the economy and repeated his belief that the $10.4 billion in handouts given in December had failed.

He also opposed the $14.7 billion to be spent in school infrastructure, saying it should be slashed to $3 billion.

The grants for insulating homes should be halved to $500 and means tested, he said.

Mr Turnbull said the whole package was "not composed of sufficiently effective measures''.

Speaking in Parliament this morning, Mr Turnbull called Mr Rudd "arrogant'' for not sitting down with his political opponents to discuss the package and the economic situation.

But he did not rule out supporting further stimulus measures down the track.

He said Mr Rudd was "so arrogant'' that "he alone is right'', that he is not prepared to do anymore to his political opponents than to "put a gun'' to them and say "stand and deliver''.

He said this was in contrast to Mr Rudd's "current hero", US President Barack Obama, who was prepared to sit down with his opponents.

Liberal sources have told smh.com.au this morning that the mood within the Coalition yesterday was to oppose the package and suggest alternative measures instead, including tax cuts.

The Coalition has now cut itself it out of the equation and forced the Government to rely on the Greens, Nick Xenophon and Steve Fielding in the Senate.

After going to ground last night and this morning, the position has been reached after the shadow cabinet met twice last night and the party room met once.

Phillip Coorey is the Herald's Chief Political Correspondent

if this package fails to pass and the recession turns out to be a nasty one, they've just opened the door for a barrage that will not let up, not just til the next election but likely for several elections to come.

fiscal discipline is not about blindly offering surplus after surplus. it's about ensuring the fiscal tools are used in conjunction with monetary policy to smooth out the peaks and troughs of the economy and provide for stability and long term economic growth.

i think turnbull's backed the wrong horse here, and he's put everything on it.

 

[Wilson]

I agree Dibo

 

[FFC Mariner]

BTW, we dont need to carpet bomb the poor, far too expensive.

Eliminate the baby bonus and they will be gone in 1 generation

(I'll go now)

 

[~Floss~]

Eliminate the baby bonus and they will be gone in 1 generation

No, if the Baby Bonus was scrapped the Govt would compensate by coming up with another one-off handout with a different name, where the benefits paid are proportional to number of dependents and inversely proportional to legitimate income.

 

[Paolo]

BTW, we dont need to carpet bomb the poor, far too expensive.

Eliminate the baby bonus and they will be gone in 1 generation

(I'll go now)

i believe you forgot to get your coat

 

[FFC Mariner]

Too hot Keensy, some of us are slaving away to pay the taxes that Rudd wants to be spunked on pokies.

Why I cant cut out the middle man, pay no tax and put it in the pokies myself I have no idea?

 

[serious14]

if we didn't already have the food and resources to feed, clothe, shelter and educate everyone.

You sure about that??

considering the top 20% uses 80% of resources, yeah, i'd be pretty confident.

in any case, I'm suggesting we carpet bomb the poor

Geez, I knew you were a left wing tyrant, but come on.......

pretty childish there mate.

Oh cheer up.  I thought you lefties supported the redistribution of wealth amongst everyone??