How To Know If You Will Get The Australian Government’s Tax Bonus Payment April 2009

March 12th, 2009 | Posted in General

The tax bonus legislation became law on Wednesday 18 February 2009.

To be eligable you must meet this criteria:

You had a tax liability for 2007/08. (Tax Paid – Tax Refund must be greater than 0) For example. You earnt $9,000, paid $2000 tax and got a refund back of $1000. This means you had a tax liability of $1000 which means you are eligible.
Lodge you 2007-08 income tax return before 30 June 2009 (unless special deferred date arranged by ATO)
Your 2007-08 taxable income does not exceed $100,000
you are an Australian resident for tax purposes for the 2007-08 financial year.

How much Will you Get?

$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 get it?

The first round of payments will commence from April 2009. Those who have already had their returns assessed will be the first to receive their payments.

How Will I Get It?

If you haven’t updated your bank details with the ATO, you will be issued with a cheque, otherwise it will be deposited into your account.

If you are still unsure, please use this calculator on the ATO’s Website.

For More Info Visit The ATO’s Media Release

No related posts.

Related posts brought to you by Yet Another Related Posts Plugin.

1
Dave Miers // March 12th, 2009 at 12:40 am

thanks for the help.
2
Woody // March 12th, 2009 at 10:54 pm

If your bank acc numbers changed or your address changed since you sunmitted you tax return for last year, then you gotta let the ATO know before March 15 or else no $ for you.
3
admin // March 12th, 2009 at 11:10 pm

If you don’t let them know, your money will bounce (if its dd) and you’ll get it eventually when you fix it back up, if you have moved house, well the new owners won’t be able to cash the cheque and hopefully you can ring up the ATO and get that sorted as well (correct me if im wrong). But better to be safe and sorry! You have 3 days left.