Who HAS recieved their stimulus cabbage payment?

[SAHeapsGood]

Originally Posted by Cam

Why is that? I was worried the same would happen after them saying it'd go into the bank account you got your last tax return paid to?

But then seems to be CHQs? So it'd go to your postal address as per taxation department?

In that case im screwed as i cant even remember where my address is with the ATO... all my refunds go to my accountant... why wouldnt the stimulus package go their too?

This is the reason i HAVE an accountant i cause i cant be F%^KED with the ATO...

[SAHeapsGood]

Originally Posted by Taxman

Any payments received prior to today have nothing to do with the so called "Stimulus Package".

To keep everyone up to date and on the same page, Below is a memo I sent to all my clients a month or so ago concerning the bonus payment (I am a Registered Tax Agent)

2009 TAX BONUS PAYMENTS

Are you entitled to receive the payment?

To receive the bonus payment you must satisfy ALL the following requirements
• You must be regarded as an Australian resident for tax purposes for the 2007-08 financial year.
• Your 2007-08 taxable income MUST not exceed $100,000.
• Your adjusted tax liability (Tax assessed plus Medicare Levy less Rebates) for 2007-08 is greater than Nil.
• You have lodged or will lodge your 2007-08 income tax return before 30 June 2009 unless you have been granted a deferral by the ATO prior to Wednesday 18 February 2009

How much will you be paid?

• $900 bonus will be paid if you have a taxable income up to and including $80,000
• $600 bonus will be paid if you have a taxable income exceeding $80,000 but not exceeding $90,000
• $250 bonus will be paid if you have a taxable income exceeding $90,000 but not exceeding $100,000

When will I receive the payment?

No 2008 tax return - no bonus payment.

You will not receive the payment until your 2007-08 income tax return has been lodged, and it must be lodged with the Australian Taxation Office by 30 June 2009 unless they have previously granted an extension. Exactly when you receive your payment will depend upon when your return was finalised.

The first round of payments is now expected to issue about mid April 2009. Those who have already had their returns assessed will be the first to receive their payments.

Will the tax bonus be used to offset any of my other tax debts?

The tax bonus payment will not be used to offset any other tax liability.

--------------------------------------------------------------------------

The ATO uses the Reserve Bank not Westpac like someone above claimed.

The ATO will be sending the cheques to the same address as advised on the 2008 tax return as the address for service of notice unless you have subsequently advised them of a change of address or of your bank account details. According to a press release today, some of the bonus payments will be in peoples bank accounts today and some will be in the mail tomorrow.

When one considers the number of individual payments involved, it will be impossible to issue all the payments and have them credited to bank accounts or cheques printed and delivered in one day. I would envisage that they will do them in several runs like the previous payments, possibly in order of lodgement of tax returns with those lodged in July the first to receive the payments with those still to lodge their returns being the last to receive the payment.

If you want a bit more information you can pm me.

Cheers TAXMAN!!... that answers a lot of questions...

[Trent083]

I havent had a tax return in the mail for 3 years, and have moved 3 times since, so I hope it doesn't come in the mail....lol

[Deech]

Originally Posted by Taxman

*snip*To receive the bonus payment you must satisfy ALL the following requirements:
• Your adjusted tax liability (Tax assessed plus Medicare Levy less Rebates) for 2007-08 is greater than Nil.
*snip-snip*

Ok, I earnt ~$20k, standard PAYG employee. Income tax got deducted from my gross pay, tax return gets submitted and I get some of my income tax back. No more money is owed to the ATO, and my account balance goes up after my tax return.

If tax liability is money owed to the ATO, and I got a ~$2k return, my liability was Negative~$2k
If I understand correctly I don't get it, nor will a lot of people?

[Black F6]

Originally Posted by Deech

Ok, I earnt ~$20k, standard PAYG employee. Income tax got deducted from my gross pay, tax return gets submitted and I get some of my income tax back. No more money is owed to the ATO, and my account balance goes up after my tax return.

If tax liability is money owed to the ATO, and I got a ~$2k return, my liability was Negative~$2k
If I understand correctly I don't get it, nor will a lot of people?

You paid tax, you didnt get it all back, so you will get it, tax liabilty means tax payable in that year. If your taxable income was more than $11k then you paid tax

[Deech]

Originally Posted by BFXRScott

You paid tax, you didnt get it all back, so you will get it, tax liabilty means tax payable in that year.

Mucho appreciado

[Black F6]

Anyone who earned over $11k will get it, except for senior australians becuase of offsets

[Ralliart]

no me this could take a while for us to get the money

[ddwilliams5]

show me my money....I too suffer from impatience....i want it and i want it NOW.......

[Keepleft]

Originally Posted by ddwilliams5

show me my money....I too suffer from impatience....i want it and i want it NOW.......

Yeah, never come between an Aussie and a free lunch, even if the funds are foreign sourced and you then have to pay for it in compounding interest years down the track.

[gthofan]

i dont care.... Its the short term im interested in, show me the money!

[Hitman]

Originally Posted by Keepleft

Yeah, never come between an Aussie and a free lunch, even if the funds are foreign sourced and you then have to pay for it in compounding interest years down the track.

Dam Straight!

[BA GT-HO]

What are people getting so wound up about? You were not expecting to get money two months ago so why and complain about it now?

P.S dumbest idea in history this stimulus package. We will be paying for this indulgence for years to come.

[Cookie-XR8]

i want a cabage

[Rob's 76 Effy]

Hope mines here before the 22/4 so i can blue slip the Exploder

[zetec]

Originally Posted by BA GT-HO

What are people getting so wound up about? You were not expecting to get money two months ago so why and complain about it now?

P.S dumbest idea in history this stimulus package. We will be paying for this indulgence for years to come.

All thanks to the Kevinator.

[boss-290]

Its a big ploy.

Harvey Norman and others are making you spend before you get your cash.

Then you'll buy more when you receive it. You end up spending double.

You get into a thought. "Oh its ok to spend recklessly the gov told me too".

I spending the out of this cabbage

[Spudz27]

Originally Posted by Explorer_Me

Hope mines here before the 22/4 so i can blue slip the Exploder

That's a car I'd like to see.

In other news I was one of the morons who thought it would be an instant payment to my bank account (I always my tax in my account) I never listen to the tele but the way the news and all were carrying on I believed it too be a payment received this week. Now I have 2 cars I ought off Ebay (diecast) and to keep my 100% rep I need to use my pay, whilst also having to pay rent, health insurance etc, I have my partner whom is an at home mum now (2 week old son, 3 yr old daughter) so no income from her.

I win biggest idiot award

[4Vman]

Originally Posted by EDfutura25

That's a car I'd like to see.

In other news I was one of the morons who thought it would be an instant payment to my bank account (I always my tax in my account) I never listen to the tele but the way the news and all were carrying on I believed it too be a payment received this week. Now I have 2 cars I ought off Ebay (diecast) and to keep my 100% rep I need to use my pay, whilst also having to pay rent, health insurance etc, I have my partner whom is an at home mum now (2 week old son, 3 yr old daughter) so no income from her.

I win biggest idiot award

LOL.. golden rule is dont spend it till you've got it, in fact dont even plan on spending it till you've got it!!

[Spudz27]

Originally Posted by 4Vman

LOL.. golden rule is dont spend it till you've got it, in fact dont even plan on spending it till you've got it!!

Always been an issue for me, don't know why. I need to start being more stingy with my cash and save for my childrens future.

[gtfpv]

SO FAR IN MY LIFE of 40 years the only thing i've ever received off the govt is tax bills and fines . or in short a kick up the clackers . and i'm preparing for another hit and miss .

[onfire]

Save the money or use it wisely.

Leave it in your account. If you've got a high interest account on the side, generating a few dollars a week, add it to that. Or pick up a few extra things when grocery shopping if you've got a family to feed and you dont have the option of shelling out on impulse buys. Pay some money off loans or house repayments, saving for a house, theres almost an extra grand to play with, etc.

I hear people talking about buying TVs and Playstations, when I know personally they struggle paying bills and feeding their kids. It may feel like a giftcard you can use anywhere, but really it should be used to make life just a little bit easier. Use it wisely. How great is that LCD going to look, when you're arguring with your Kids over buying generic products at the supermarket, rather than a brand or finding you need to move, because you cant pay the rent.

Anyone see the skit on The Chapplle show, when the desendents of the slaves recieved payouts.. they went straight for the Rims and KFC. Judging by half the people I hear running their mouths on the topic, Jim Beam and Sony will see great returns in the next few months.

If this is simply a $900 bonus, and you dont need that extra money. Sure spend away. But if this is an oppitunity to make life easier, even just for a few months, take it rather than wasting it.

[Jason[98.EL]]

Originally Posted by onfire

Save the money or use it wisely.

Leave it in your account. If you've got a high interest account on the side, generating a few dollars a week, add it to that. Or pick up a few extra things when grocery shopping if you've got a family to feed and you dont have the option of shelling out on impulse buys. Pay some money off loans or house repayments, saving for a house, theres almost an extra grand to play with, etc.

I hear people talking about buying TVs and Playstations, when I know personally they struggle paying bills and feeding their kids. It may feel like a giftcard you can use anywhere, but really it should be used to make life just a little bit easier. Use it wisely. How great is that LCD going to look, when you're arguring with your Kids over buying generic products at the supermarket, rather than a brand or finding you need to move, because you cant pay the rent.

Anyone see the skit on The Chapplle show, when the desendents of the slaves recieved payouts.. they went straight for the Rims and KFC. Judging by half the people I hear running their mouths on the topic, Jim Beam and Sony will see great returns in the next few months.

If this is simply a $900 bonus, and you dont need that extra money. Sure spend away. But if this is an oppitunity to make life easier, even just for a few months, take it rather than wasting it.

the best post in this thread thus far

Jason

[GT69]

I hope mine goes to the accountant. I tell them to hold it until early July so i can send it back to that ATO...hell it'll be $900 off my tax bill screw the big screen and playstations. 09 sounds like a good year to get out of debt ;)

[Sam_Boss260]

Originally Posted by onfire

Save the money or use it wisely.

Leave it in your account. If you've got a high interest account on the side, generating a few dollars a week, add it to that. Or pick up a few extra things when grocery shopping if you've got a family to feed and you dont have the option of shelling out on impulse buys. Pay some money off loans or house repayments, saving for a house, theres almost an extra grand to play with, etc.

I hear people talking about buying TVs and Playstations, when I know personally they struggle paying bills and feeding their kids. It may feel like a giftcard you can use anywhere, but really it should be used to make life just a little bit easier. Use it wisely. How great is that LCD going to look, when you're arguring with your Kids over buying generic products at the supermarket, rather than a brand or finding you need to move, because you cant pay the rent.

Anyone see the skit on The Chapplle show, when the desendents of the slaves recieved payouts.. they went straight for the Rims and KFC. Judging by half the people I hear running their mouths on the topic, Jim Beam and Sony will see great returns in the next few months.

If this is simply a $900 bonus, and you dont need that extra money. Sure spend away. But if this is an oppitunity to make life easier, even just for a few months, take it rather than wasting it.

Whole-heartedly agree with this..... I won't get anything this time around. But I just transferred the centrelink amount that we received last month into our credit card. Would love to splurge on things, but hey I want those credit cards worked off. So no sony playsation and no jim beam here. Just doing whatwe can to get ahead and stay ahead.

[ddwilliams5]

Still No Cabbage...what A Crock

[MAV50L]

Originally Posted by ddwilliams5

Still No Cabbage...what A Crock

Nope none here either.
Has made my weekend a bit smaller now.
Oh well , I most likely couldnt afford to do what I was going to do anyway.

[TheSneakiness]

Ah crap... gotta ring the feckin tax accountant to find out. DAMMIT...

[zetec]

Originally Posted by ddwilliams5

Still No Cabbage...what A Crock

I for one wish I could elect to send mine back to Kevinator and have him invest it in something that will actually help me... like better public transport, hospitals or education. Lord knows every capital city in Oz would benefit from 10 billion each for a better rail network - creating jobs, a healthier environment and less congested roads... thus saving me fuel money and encouraging more people to buy locally made 5 star family cars that use only as little fuel as a Camry 4 cylinder...

Everyone wins.

But who am I to know, I'm not a politician, just a lowly pleb who paid for his share of the handout in the first place.

[Bucknaked]

ATO's web site says don't call until after 16 May due to the sheer size of getting that many payments out to tax payers. So I guess this means that you could be waiting until 16 May before it arrives as worst case scenario.

My accommodation on the Gold Coast is already booked and deposit paid.