Government grant to make life easier

There must be a long line of camels

slow boat to tassie?

guys

apparently they are mailing out those cheques by random post codes...dunno how it is worked though?

friend of ours in next suburb got his on friday, maybe that means us next ....fingers crossed.

Would love to donate mine, but donated quite a bit to bushfire appeal, so this will be for our home charity.

Cheers
Terry and Amanda

For the GST to be increased the States and Territories have to agree. A GST raise wouldn't do Rudd any good anyway because GST monies are given to the States/Territories. It's not a source of revenue for the Commonwealth.

The GST wont rise, the states get every cent of thet GST , so the states would be happy but there would be no extra money to fill the enormous hole in the federal side that those current bumbling fools are creating.. Rudd wouldnt care, he is very wealthy anyway, our richest PM ever i believe!! Michael

Gidday Fred

Hope everything is going well for you and the family.

You’re the first on my list for a visit on my way up north. The mate wants to see your layabout also, but he’s having a few problems with the missus at the moment.

I’ll give you a call as soon as the camper trailer arrives.

PS The trailer can only carry 190l of chardy, so it's going to be a quiet night. LOL

Regards

Kim

How about telling us what your up to.

Gadget this, gadget that. Wiring diagrams etc.

Express your self young fella.

LOL

Regards

Kim

"The only real stimulus is workplace security"

You're right gmd.

Unfortunately we need to increase GST to cover the state governments loss of income when they cancel payroll tax and stamp duty and other taxes and penalties on business.

Only then will our Australian businesses truly be on a "level playing field"

Unfortunately there are only two chances KRudd organizing that - so bring on the recession.

Peter

gmd

This may enlighten you.

Economic Stimulus website

Cheers

Richard

Progress report on the Stimulus package

Media Statement - 26th April 2009

"When the stimulus package gets up to full steam in about 12 months there will be around 35,000 individual construction projects around the country including the largest school modernisation program ever - keeping contractors, tradies, truck drivers and small business working."

ALP

If you earned less than $100K and have filed your 2008 tax return by the end of June 2009 you will get the cheque at some stage.

To the best of my knowledge its not offset against any liability you may owe the tax office.
One of the only occasions that a payment from the Fed Government is not offset against any other liability.

My Accountant is also my Brother who has been at it for about 30yrs so I think that I will take his advise. B

I thought it was as simple as that too John but it's not. The key is that you have to be an eligible tax payer, that is you receive a "taxable" income.

Generally if you're not retired and earn more than the taxable income and less than $100k lodge a tax return etc you'll get it

But as I found out if you are a self funded retiree and receive an allocated pension from your super fund you are not eligible because there are already tax reductions. If you are 60+ you don't any tax.

If you are under 60 there is reduced taxation.

The allocated pension is based on a minimum and maximum amount that you can draw and it depends on how much super you have. So if you're under 60 the tax on an allocated pension is based on a formula because some of the pension is your original capital plus some capital appreciation and it's only the appreciation that can be taxed.

It's how they work out the appreciation that get's complicated and it's a formula based on your current age and life expectancy, the capital and number of years from current age to life expectancy.

Unfortunately the government hasn't made that clear in their press releases those releases make it sound like everyone who lodges a tax return will get it that's is not the case

Barnray here are a couple of links that may help you.
I would also point out that you are NOT obtaining a refund as you state above, This is a Tax Bonus a different animal altogether.

Eligibility

Tax Bonus FAQ

From the above link..

Q13: Will the tax bonus payment be used to pay off my tax debt?

No. Your payment will not be used to offset any of your other tax debts.


Correct jeepthing, You must pay tax and be within the prescribed earning limits to be eligible.
Have a look at the above links and a few others associated with the links for further info.

I think this statement say's it all.Barnray
"your adjusted tax liability for 2007-08 is greater than zero (that is, you paid tax)"

My first reply should have said "and Received a refund""

Hi Barnray. If you had tax withheld from your wages for the 07/08 financial year (ei, you paid tax) but your refund was equal to or more than what you paid in tax then you are not eligable to receive the $900 bonus. This is one condition I know of. Regards,Bob.

Barnaray,
Here's a simplified statement about eligibility directly from the ATO site:

"Am I eligible?
Whether you are eligible and how much you receive will be
based on your individual 2007–08 tax return. You are eligible
to receive the payment if:
- your 2007–08 taxable income was not more than $100,000
- your adjusted tax liability for 2007–08 is greater than zero
(that is, you paid tax)
- you lodge your 2007–08 income tax return by 30 June 2009
or by a deferred lodgement date that we granted to you
before 18 February 2009, and
- you were an Australian resident for tax purposes during the 2007-08 tax year."

That's pretty straight forward. Earn money. Pay Tax. Lodge return. Receive refund. get bonus. Thanks Kevin.

Bob,
I'm in total agreement with you on that too
Considering most will be spent on imported product, the financial benefits will go overseas, not help out Australian business to the degree it will benefit foreign companies.
Mainey . . .

Agreed Bob.

I keep asking, Who did vote for them??
Everyone seems to be ducking for cover when that question is asked.

Bob,

Short answer is ONE.

Labour will not last past the next election.

The questions will be; how much debt he leaves behind for our offspring to pay off, and; is a $900 hand out really worth the grief it will cause us in the long term?

And I wont even mention my views on "asylum seekers" who all of a sudden think Oz is an easy target!

Short term gratification will cost Australia dearly!

LABOUR = SOFT!

Matt

Matt,
Australia IS an easy target, a very easy target!

we have no jobs available for these people, who are generally uneducated by our standards, who won't get in line like the rest of the people who wish to move to Australia to live.

We should do what our near neighbours do ...

Mainey . . .

Mainey,

I'm hearing you brother!

Aside from the fact I work in an "industry" that IS directly affected by these people's actions, Australian taxpayers (including me), CANNOT afford to give an extra 115,000 people a year welfare assistance!

Pure and Simple.

Rudd has to "batten down the hatches" and send a strong message to all and sundry, saying; you are not welcome, unless you apply through the normal channels and ABIDE BY AUSTRALIAN LAWS! Even then I'm loathed to accept more.

Wonder how many of them have received a "bonus" of the last few months.....................................

And NO, I definitely did not vote Labour - and never will!

Grouchy Matt

Come on Member - John (Vic)
""I keep asking, Who did vote for them??""

You alway forget ME not just a voter but a paid up member of the Australian Labor Party...

Darn I forgot what the post was about.. some white fella complaining about a hand out from the Government???

LOL

Richard

""I keep asking, Who did vote for them??""

The answer to that is simple. The majority of Australians, this led to the ALP winning a majority of seats and then being able to form Government. It's called democracy.

And I also voted for them. It's my democratic right to vote for whomever I like.

Jim.

Yes, I was another of the majority of Australians in this democracy who voted for them.

Having an annual Anzac Day reminds us of the effort Australians have gone to over the generations to let us put a pencil mark against our particular choice of candidate on the ballot paper.

Democracy Eh!!
Never heard of it.

Richard, why do you introduce racism into an economics discussion?

GB see the LOL, in fourm land that means Im joking.

Cheers

Richard The red under the bed.. LOL..LOL

Forum

Bob, the rich dont avoid paying tax at all. They get slugged at every corner. they can simply affrord to absorb it better...but it doesnt make it right.

Only through risk and investment do they receive tax credits. Everyone is entitled to the same thing, the wealthy just do more of it from what I have seen. Negative gearing, capital investment to take advantage of Government initiatives etc.

Most of us dont have the opportunity to take advantage of these sorts of things but if you look at the amount of money that has been thrown at people that havnt worked a day in their lives, it is very frustrating.

Do a calculation on the social security paid to a non working single parent of three. Take into account the free health care, subsidies on medicine etc and you will see that they earn the equivalent of over $60K per annum. I find that disturbing.

They even get virtually free child care - for what? As a single working dad of 2 kids I was paying $500 per fortnight in child care for one child.

and here we have Kevin 07 throwing our cash out the door. I dont have an issue with wealth distribution to a degree, but it is unfair to then have the working class pay it back later...which is what will happen. The Labour Government has always attacked the perceived wealthy (Those earning over $90K per annum) and used terms like millionaires etc to describe people that they want to isolate from the masses for tax purposes.

The land tax was a perfect example> They said you had to pay an additional tax on your land if it was valued over $1M. Totally corrupt! When you had people with a house in a good suburb for over 60 years...retired...and suddenly you have to pay a significant amount of money each year for what? The Government referred to these people as millionaires. Hardly the case UNLESS the property was sold.

What the Government didnt tell people is the rate of inflation is significantly less than the average rate of property value increases so you end up with a situation where more people get sucked into the hole. Its just wrong.

I normally dont argue politics at all...but I am sitting here thinking of what is around the corner and seeing a wasteful government throwing $ around like it grows on trees and I wonder what it will mean to us all in 3 to 5 years. As an employer, it drives me nuts paying payroll tax when that money could go towards more staff.

Yours getting off his soapbox now...

Craig

GB maybe the Lib's spent to much time paying back debt and not looking after the state of the country? I'm sure you are smarter than to believe the Labor party caused all this.

Richard

Richard paying back debt to save the interest cost is looking after the state of the country.
It actually allows you to spend that saved interest cost on useless things like health and defence and maybe increase the odd aged pension.

Anytime you have massive interest costs on debt run up with nothing tangible to show for it is always bad news.

Its how Labour is managing this issue that is being questioned here.

Richard there's no way that you or anyone else can read "Labor caused this" in my post above. Not even an implication of that.

What I said was that they are trying to cure the disease by applying the CAUSE.

It does not make sense.

You should be smarter and not read words that aren't there, but I guess you and your Komrade mates are starting to feel a bit defensive and guilty that you voted this lot onto us.

I hope that, in 20 years time, when the second generation from now is still paying off this debt that you will stand up and say, Sorry. it was my fault. I voted for them.

Maybe you should start pushing for a National Sorry Day.

comrade GB Hi.

Maybe this part. "Difficult not to sound political here but it took the Libs 10 years to pay back the previous Labor govts billions of dollars of debt but this govt has already got the country into debt a by a huge amount more."

Debt is not a bad thing, nealy everyone I know has some, Rich and Poor.

This Government and the Australian people have already had a National Sorry Day. No need for another.

I have no fear of telling people that I am a socialist and will vote for the Party representing these values. Thank You

Cheers

Richard

comrade GB Hi.

Maybe this part. "Difficult not to sound political here but it took the Libs 10 years to pay back the previous Labor govts billions of dollars of debt but this govt has already got the country into debt a by a huge amount more."

Debt is not a bad thing, nealy everyone I know has some, Rich and Poor.

This Government and the Australian people have already had a National Sorry Day. No need for another.

I have no fear of telling people that I am a socialist and will vote for the Party representing these values. Thank You

Cheers

Richard

Whoops

Yeah,

I suggest that Jim and Richard could tie the knot.

They are made for each other.

Ha Ha GB you're a funny man,,, LOL

Juvenile slur.

Should we expect anything better?

Stu you could apply to have your PAYG Installments varied down if your unlikely to meet the earning/tax liability position that the estimate is based upon.

Many hundreds of thousands of us small business (and large) are doing just that to help stay afloat.
Speak to you accountant about it or flip the Installment Notice over and read the back.

Cheers

Hey John,
Yeah I did think about that but what worries me is if they put up the tax rate or something before end of year, to cover their wasteful spending. Then i would really be stuffed.
Maybe its better to struggle now and get it back later, I dunno mate uncertain times.
Would have been better if they just lowered the tax rate for incentive for small business to cut prices and work harder. Now like most i wont cut prices cause i cant afford to!

What do you think about the gov deal with banks....If you lose your job they freeze your repayments for up to 12 months. What happens to us(small business) if we don't have enough money to pay the home loan? Tough luck I guess.

Cya

I don't think they will put up the tax rate at the company level anytime soon, too much pressure there already to try and maintain viable small business as we are the largest overall employer.

Its your choice but why struggle if you can relieve some pressure, you don't have to amend it to zero, be realistic (If you under estimate they will fine you also) but if you genuinely know that you won't have the same level of liabilities the money is better in your pocket, especially as it possible you are funding the installments from overdraft facilities.
Seek some advise, talk to your accountant and revise your installments accordingly.

I think the deal with the banks is a good one, anything that keeps people in their homes can only be good.
The last thing we need is more pressure than whats occurring in the home loan default area now.

For sure small business always get the raw end of the policy deal, our problem is we are so fragmented that its already a question of us being divided so we are easy to conquer and we also have the shallowest pockets to fight negative decisions by departments like the ATO etc.
In other words we bend over and take it everytime.

Cheers and good luck.

I was unaware of the fine part for under estimating. Sometimes i think it maybe easier to just sack my employees and go work for someone.

Thanks for that John it didn't help but i know a little more ;)

Stu actually I should have been a little clearer, its not a fine as such but they may charge you penalty interest at the current prescribed rate if you reduce your PAYG installments down more then I thinks its 15 or 20 percent below the final tax liability??

Again check it out with your accountant but Kevin won't be bailing you and me out as small business if we hit the wall so protect your cash and don't give them anymore than what you need to until you actually have to.

Cheers

Daza.. LOL

When did "we work to bloody hard" equate = earning to much money, there are many a poor person who will and has worked hard all there lifes with little reward.

If I was you I would be glad I was so well off.

ps. I'm not far behind you in not getting the payment, but I'm OK

Cheers

Richard Kovac

Please do not take this the wrong way...

G/Day Richard

I'm not knocking any Aussie workers, I realise the plight of the average battler, I'm peed off with the Govt, dosen't matter who is in power, I'm just cranky how they treat small business, they are allways getting their clutches into us, and really don't give a stuff about the effort one makes, especially when we employ people and the demands they make on you, re all the rules and regulations ect, small business is the Backbone of the nation and all they seem to worry about is Multi National Companies, as I said before I'm all for the Aussie Battler, and I'm happy for what they can get,
PS, I'm not that well off lol lol.

I am sick of being expected to feel guilty because I, like many others, do OK. I have several companies but am hardly rolling in it. I dont own a yacht and live in the Western suburbs of Sydney near Penrith.

It is not always about hard work..my staff work as hard as I do often, but it is about risk. Staff turn up to work, they get paid. Doesnt work the same for most employers. We have more fine bearing legislation to work with than virtually any other country in the world as company directors.

Often your home is tied into the risk as well, so if business collapses you are up to your neck in it. Staff on the other hand walk away upset for a bit, usually with a redundancy package (How is that reasonable if a company folds?) and you end up holding the bag as a director.

And...we cop it in the neck from the Government at every turn.

Many a day you wonder why you bother...but then again, I, like many others, have good staff that make it worth coming to work each day.

Not complaining actually, just sick to the back teeth with the perception by many that if you own a company you are wealthy. Not often the case.

Hi Craig

Don't get me wrong also. I'm senior management, and am very good at making my boss's (owners) money, that is what I'm payed good money to do.

I know it takes guys like you, to allow us to be able to make money, see how the Lib's sold the fence's to pay for the farm, there's no other way to make a living.

Cheers

Richard