Thanks for the $900, Hello Kitty here I come.

[boudoirblonde]

Quote:

Originally Posted by simplyenchantin You're right. Ironically I was talking to a friend of mine on MSN 5 minutes ago, and he's upset coz he ALSO got refunded all his tax back (thus paid no tax) and therefore he doesn't qualify. That whole notion stinks of unfairness as far as I'm concerned. He probably earns so little and pays so little tax that they refund all his tax, if they bothered refunding him his tax - 5c, he'd qualify for the money. How dodgy is that?!

Same as my sister, she paid tax last financial year, got it all refunded, so she wont get the $900! Isn't it these people who earn (I think its less than $6,000 a year) need it more than the people who earn $95,000!

 

[billy_cakes]

I dont think that it is a case of who "needs" it. Its just a point of getting it out there and into our economy. Ironicly though, as an low earning apprentice who "needs" the money, ill be putting mine away for a rainy day and my partner who earns nearly too much to be recieving the $$$ is spending his straight away

 

[darkorchid]

^^ Agreed. This package isn't designed really to help us out - its for us to spend to keep the economy going...although it's really not going to work. There won't be enough of it put back into the flow to have any effect :S

 

[billy_cakes]

I saw Rudd on the news last night, as im sure some of you did as well saying? 'it looks like we are going to have a recession anyway' i felt like kicking the tv. I mean, really? I cant see $1000 dollars each saving us, Not even if we all did with it what we were ment to.

 

[simplyenchantin]

I totally agree with all of you! Being handed $900 is going to do nothing but encourage me to save it for an eventual home loan or some such huge expenditure looming in my future.

BTW, Paramnesia, the centrelink $$ I get is non taxable (not all centrelink payments are considered income for tax purposes, youth allowance is an example of one that is) so I don't technically have to lodge a tax return, just a form stating why.

 

[panda0410]

^^The payments being handed out this week are replacing the $200 annual return to study bonuses that ALL students get EVERY year. All other payments meant to stimulate the economy were finished being paid on the 20th. This is still a stimulus payment though - but its the education recipient component of the package.

And no - its definitely not taxable!

 

[sambibabe]

Quote:

Originally Posted by simplyenchantin Doesn't tax work exponentially? Sure, at a certain $ figure it would matter very little if you earnt more or less due to the amount you get taxed, but that would be pretty high up there and I doubt many people would be up there anyway. My brother earns over $100k due to doing contracting work, yes he gets taxed a shit load, but he still earns significantly more (and thus has more disposable income) compared to when he was on a $70k salary. I think everyone knows that just because you earn over $100k you don't get that amount in your pocket, but everyone pays tax based on what they earn so it evens out in my mind, and if it made no difference if you earnt $100k or $60k, why would people bother going for jobs with "more responsibility"? I guess it just hurts your wallet when you realise how much you're getting taxed.

Isn't your brother self-employed though?

 

[simplyenchantin]

^^ I wouldn't think so, he is employed by his company on a contract basis that gets renewed every whenever. Self employed people pay tax too though, don't they?

 

[miss_bailey]

Quote:

Originally Posted by panda0410 ^^The payments being handed out this week are replacing the $200 annual return to study bonuses that ALL students get EVERY year. All other payments meant to stimulate the economy were finished being paid on the 20th. This is still a stimulus payment though - but its the education recipient component of the package. And no - its definitely not taxable!

I have never gotten any such payment and this is my third year at uni!

 

[sambibabe]

Quote:

Originally Posted by simplyenchantin ^^ I wouldn't think so, he is employed by his company on a contract basis that gets renewed every whenever. Self employed people pay tax too though, don't they?

Yeah they pay tax, but they get to claim many things as business expenses, so at the end, they don't pay as much.

 

[panda0410]

Quote:

Originally Posted by miss_bailey I have never gotten any such payment and this is my third year at uni!

wtf??

Do you get Austudy and study full time?? Because if you do then you SHOULD get this payment. Every year.

 

[darkorchid]

^^ Don't you have to apply for Austudy? And doesn't it depend on income and things? I never got it when i was studying less than 5 years back...but I didn't have a HECs debt...is that maybe why?

 

[panda0410]

HECS has nothing to do with Austudy. To be eligible you need to be studying 0.75 load each semester, and yes its means tested. But if you are eligible for Austudy you are automatically eligible for the education entry payment, this year it just happens to be $950 because of the stimulation package. Any other year its $200.

 

[Paramnesia]

I've never recieved that either and i was a full time student for 2.5yrs :S though I was on youth allowance.
Hmmm i get the feeling I probably wont get the payment

 

[simplyenchantin]

I get an education subsidy with my centrelink payment as I am a full load uni student, and the stimulus package was in addition to the regular once off "Education Entry" payment which is $200 or so at the start of the year.

I don't know if it applies for Austudy as that isn't the payment I get, you should ring them though!

 

[panda0410]

^^How come you dont get austudy?? I have been on austdy for the past few years when I was studying med and before than when I was studying nursing and I got the education entry payment every year except this year of course.

 

[simplyenchantin]

I don't get austudy coz I get a different payment haha. You can't get two But I get an education subsidy coz I'm a full timer and thus qualify for education entry payment and the stimulus bonus this year.

 

[~Crystal~]

aww this sucks! I guess I WON'T be getting the $900 afterall

I just figured out that I earned so LITTLE in that year (around 5k)... that they refunded all my tax- which means i also have a $0 tax liability!

On top of that, I don't get Austudy/youth allowance as (same reason again) I don't earn enough to get it!

booo... guess i'm going to have to cut down on my mac spending!

 

[Paramnesia]

I'm in the same boat, it sucks. 07/08 I was studying so i didnt earn enough. but this year I've earn't over 6k and will pay tax. So i missed out on the education bonus and will miss this one. It annoys me so much because I really struggled as a student, i went many weeks without even being able to afford meat. So I had to defer, once i do they give out bonus money.... grrrrr

 

[billy_cakes]

How about this question: If you could spend the $900 on mac at the counter what would you buy?