# How are you spending your stimulus?



## shaunQ (7 March 2009)

So from next week the single income and school kids payments are going out. The next month is the tax-payers payments. Personally I'll be getting a few thousand all up  and I will be trading a good percentage in the market. Thats just me - but I can imagine they'll be several thousand other people with similar ideas - so you'd think that could possibly bring at least a short-term boost to the market?

What will you be doing with your stimulus, or stimuli? The market? Home loan? Holiday? Plasma? Under the mattress?


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## sinner (7 March 2009)

*Re: How are you spending your stimulus*

According to my friend, since I was a full time student as of tax time last year, I am eligible for two payments (one as taxpayer one as student).

Does anyone know if this is the case?


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## So_Cynical (7 March 2009)

*Re: How are you spending your stimulus*


$50 bottle single malt scotch (cheap)
$400 into my compulsory super...so i get some of the co contribution (like a double whammy)
$500 into the share market...or credit card (undecided)


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## BradK (7 March 2009)

*Re: How are you spending your stimulus*

Mine will be spent on an eclectic mix- all good for the economy.
1. A dirty weekend away with the missed
2. Towards a picket fence. 

Here's one that is going to get me shot: Morally we are obliged to spend the money in the real economy rather than pay down debt or invest on the stocks


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## GumbyLearner (7 March 2009)

*Re: How are you spending your stimulus*

Shut-up liar.

This is a MAMMOTH home run for WALL STREET BANKERS



Plays right into the bears hands? You total distortionist!

"Everybody sees through this package." - Wall St Cramer

Maybe some see through you?


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## Bill M (7 March 2009)

*Re: How are you spending your stimulus*

Might go into my super fund, have no need for anything else. I've never had free money from any government before.


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## GumbyLearner (7 March 2009)

*Re: How are you spending your stimulus*



Bill M said:


> Might go into my super fund, have no need for anything else. I've never had free money from any government before.




Free money what about negative gearing, write-offs, GST ?


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## Bill M (7 March 2009)

*Re: How are you spending your stimulus*



GumbyLearner said:


> write-offs




I've had a few of those this year, I might have to wait 15 years to use them though.


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## GumbyLearner (7 March 2009)

*Re: How are you spending your stimulus*



Bill M said:


> I've had a few of those this year, I might have to wait 15 years to use them though.




Not having a go mate. But there are too many performance enhancing substances coming onto many governments markets ATM! If you know what I mean!


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## Bill M (7 March 2009)

*Re: How are you spending your stimulus*

I just thought of something I need. Just to please ol Ruddy (and my missus) I might buy a PVR. I'm still using and old VHS video recorder so might get all techy and buy one of those.


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## Trevor_S (7 March 2009)

*Re: How are you spending your stimulus*



shaunQ said:


> What will you be doing with your stimulus, or stimuli?




Nada, as I don't get any...  again...


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## billv (7 March 2009)

*Re: How are you spending your stimulus*

Our microwave oven could do with a replacement, I've seen some combinations ones going for $800 so the tax payment should cover it


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## CAB SAV (7 March 2009)

*Re: How are you spending your stimulus*

Sponser an American family.


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## Nyden (7 March 2009)

*Re: How are you spending your stimulus*

Stimuli for me; multiple payments. I shall be saving the bulk of it, but perhaps I'll spoil myself by buying a cheap fishing rod.


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## white_goodman (7 March 2009)

*Re: How are you spending your stimulus*

straight into my trading account, which is offshore...good work Rudd


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## prawn_86 (7 March 2009)

*Re: How are you spending your stimulus*

Spend in on my holiday in Thailand so as not to give our taxes straight back to private corporations.

And i'll just save the money i already have that i was going to spend in Thailand.

I dont agree with it, encouraging people to spend it is essentially just giving taxpayer funds to private companies and business'. But i'll take it, perhaps buy a new pair of jeans here in Aus


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## Lantern (7 March 2009)

*Re: How are you spending your stimulus*

Ticket to Thailand.


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## nomore4s (7 March 2009)

*Re: How are you spending your stimulus*



CAB SAV said:


> Sponser an American family.




rotflmao

I'm not sure we qualify, but if we do it will go into our savings


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## Prospector (7 March 2009)

*Re: How are you spending your stimulus*

Sinner, if you receive Youth Allowance you will get it as a full time student, otherwise not.
Mine will go straight into the offset account against the mortgage of our IP.  Not in spending mode at the moment.


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## sam76 (7 March 2009)

*Re: How are you spending your stimulus*

I will most likely be spending my entitlement on pr0n. 

(the top shelf stuff)

lol


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## Julia (7 March 2009)

*Re: How are you spending your stimulus*



Trevor_S said:


> Nada, as I don't get any...  again...



Same here, Trevor.


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## Calliope (7 March 2009)

*Re: How are you spending your stimulus*



sam76 said:


> I will most likely be spending my entitlement on pr0n.
> 
> (the top shelf stuff)
> 
> lol




George Best had the right idea 



> I spent a lot of money on booze, birds and fast cars. The rest I just squandered


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## shaunQ (7 March 2009)

*Re: How are you spending your stimulus*



Julia said:


> Same here, Trevor.




Yeah. I know. Well even though there's only been 2 or 3 responses mentioning the market. I'm still hopeful of it giving some boost  - that way, its quite possible you and others can be benefit as well. There was a boost in December/January (which I know historically is always pretty good), but perhaps the previous stimulus played a role?

Perhaps we could all choose the same stock and we'd all be rich!!?


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## Largesse (7 March 2009)

a large contingent of the engineers at uni are having a 'stimulus party'.
everyone is required to contributed 200$ of their payment into a pool of funds which will be blown on booze drugs and strippers.

i'm not an engineer so i'm not allowed to participate so i'm just going to clear of the last part of my credit card debt and put the rest into my savings for my house deposit


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## sinner (7 March 2009)

If I only get 1 payment then it will just get dumped into the savings account to be dealt with as if it was budget. Probably 15% will get invested.


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## wabbit (7 March 2009)

I don't NEED the cash right now, so I will be adding my $$$ to my super, so I only need to add another $100 to make up the $1000 annual contribution; Kevin will give me another $1500 at the end of FY.  $2500 for $100, very low risk.

R:R not to be sneezed at?!

wabbit 


P.S. I do wish I were an engineer though!


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## JTLP (7 March 2009)

Probably just dump it on my credit card debt...or buy another ticket (1 way) overseas with this crappy economic state...

Sinner, Prospector nailed it. If you were receiving youth allowance and submitted a tax return whereby you did end up paying tax...you will get 2 payments.

Is it $900 or $950 for under 80k?


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## sinner (7 March 2009)

Damn. No youth allowance.

In that case, $950 really doesn't change much to my budget and plans. I might just dump it in the account and send 0.33 of it to the Salvos or something.

A bit expensive but you can buy a goat!

http://www.heifer.org/site/c.edJRKQNiFiG/b.2529663/

By my calculations, for 0.33 of 950AUD and our ****ty exchange rate, you can donate 1.8ish goats to a 3rd world family. Luckily they have whole (120USD) and mini (10USD) contracts for the goat to make position sizing easy.


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## Largesse (7 March 2009)

950 for YA
900 for <$80k for FY07/08 assuming you paid >$0 tax

$1850 for you average student.
considering  my books cost me close to 550$ this semseter, i'm not upset


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## white_goodman (7 March 2009)

*Re: How are you spending your stimulus*



Prospector said:


> Sinner, if you receive Youth Allowance you will get it as a full time student, otherwise not.
> Mine will go straight into the offset account against the mortgage of our IP.  Not in spending mode at the moment.




im on youth allowance and paid the correct amount of tax, surely i can double dip?


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## knocker (7 March 2009)

I have a group certificate from last financial year but couldn't be bothered lodging a return since they owed me about 10$ Will I still be eligible? I am in the lowerr bracket


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## Largesse (7 March 2009)

*Re: How are you spending your stimulus*



white_goodman said:


> im on youth allowance and paid the correct amount of tax, surely i can double dip?




read my above post.....


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## Largesse (7 March 2009)

knocker said:


> I have a group certificate from last financial year but couldn't be bothered lodging a return since they owed me about 10$ Will I still be eligible? I am in the lowerr bracket




no notice of assesment = no payment


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## shaunQ (7 March 2009)

knocker said:


> I have a group certificate from last financial year but couldn't be bothered lodging a return since they owed me about 10$ Will I still be eligible? I am in the lowerr bracket




I think I remember hearing about an appeal mechanism, but I would be quick to send it in. Do it online.


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## Trevor_S (7 March 2009)

*Re: How are you spending your stimulus*



Bill M said:


> I might buy a PVR.




Perhaps a TIVO, Kerry Stokes needs a boost


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## inenigma (7 March 2009)

Um.  Absinthe..............  















Oh, and yeah, a bunch of flowers for the missus and me mum.


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## white_goodman (7 March 2009)

inenigma said:


> Um.  Absinthe..............
> 
> Oh, and yeah, a bunch of flowers for the missus and me mum.





dont be a fag, casino all on black


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## Julia (7 March 2009)

Largesse said:


> a large contingent of the engineers at uni are having a 'stimulus party'.
> everyone is required to contributed 200$ of their payment into a pool of funds which will be blown on booze drugs and strippers.



Fantastic!  Just what I always hoped my tax dollars would go to.



sinner said:


> Damn. No youth allowance.
> 
> In that case, $950 really doesn't change much to my budget and plans. I might just dump it in the account and send 0.33 of it to the Salvos or something.
> 
> A bit expensive but you can buy a goat!



Great idea, sinner.  Goodonya.


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## beerwm (7 March 2009)

Funny;

option 1; Booze/Party

option 2; charity, savings.

which one does Rudd and Swanny support


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## sinner (8 March 2009)

Julia said:


> Fantastic!  Just what I always hoped my tax dollars would go to.
> 
> 
> Great idea, sinner.  Goodonya.




Here is another worthy investment. Send your stimulus dollars overseas!

http://www.shakti-streetkids-pushkar.org/



> Pushkar is a holy city in Rajasthan. Since the arrival of more and more tourists especially foreigners some gypsy families [itinerant travellers] have settled in Pushkar and their numbers are  increasing day by day.
> Lots of gypsies can be seen begging in streets of Pushkar.
> Ransingh says "Kids of these families are not going to school but involved in the 'profession' of begging.
> This made us  think something needs to be done about the future of those kids.
> ...




I will be donating an amount equal to my weekly budget % for groceries to these guys next payday, regardless of the stimulus.


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## Bobby (8 March 2009)

Peanuts for Peanuts ~ enjoy.  

:sheep:


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## Bafana (8 March 2009)

Not getting any as Not A Tax Resident for that period even though paid tax.

If I was getting it I would pay down one of my credit cards. Still playing look see what to do in the market and doing my research so not ready yet.


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## nulla nulla (9 March 2009)

If i should be so fortunate as to get a payment to stimulate the economy, I will buy a carton off beer, a case of wine, some steaks, and spend the rest on the poker machines. Thats churning it back in.


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## trading_rookie (10 March 2009)

Can those spending the stimulus on booze do so on alcopops that way at least most of it ends up back in the tax coffers. 

That way Swan and Rudd can get all excited when the ABS figures reveal we were only -0.5 in the red again  

Ahhh Rudd, so desperate to see how history perceives him...too bad it'll be as the PM who p!ssed up a very large surplus that resulted in heavy taxes for future generations...


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## Cartman (10 March 2009)

Bobby said:


> Peanuts for Peanuts ~ enjoy.
> 
> :sheep:





i think we might be brothers in a past life Bob ---- haha

what stimulus package ??? --- wheres mine??? ---- lol -----


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## Smurf1976 (10 March 2009)

*Re: How are you spending your stimulus*



BradK said:


> Here's one that is going to get me shot: Morally we are obliged to spend the money in the real economy rather than pay down debt or invest on the stocks



I'd argue that morally we were all obliged to save, invest in _productive_ industry and fight the investment bankers long ago, thus avoiding this mess in the first place. We failed and created an "every man for himself" society in the process. Sad.

As for me, well I won't be getting $900 so I don't have a choice to make. But I'd invest it in something of long term value if I was getting it rather than blowing it on something that will be just a memory this time next year.


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## Calliope (10 March 2009)

As I am a taxpayer, I will be getting the 900 bucks. It will go a small way toward recouping some of my taxes,


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## Conza88 (11 March 2009)

I'm going to head off to an old coin collector I know and purchase 90,000 1 cent coins. 

Then I'm going to ride around on my bike and drop them in peoples letter boxes, so they can get some of their money back.


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## Wysiwyg (11 March 2009)

Conza88 said:


> I'm going to head off to an old coin collector I know and purchase 90,000 1 cent coins.
> 
> Then I'm going to ride around on my bike and drop them in peoples letter boxes, so they can get some of their money back.





Back from what or whom?Also 1c doesn`t go far anyway so it seems a pointless time wasting exercise.


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## Julia (11 March 2009)

Smurf1976 said:


> I'd argue that morally we were all obliged to save, invest in _productive_ industry and fight the investment bankers long ago, thus avoiding this mess in the first place. We failed and created an "every man for himself" society in the process. Sad.
> 
> As for me, well I won't be getting $900 so I don't have a choice to make. But I'd invest it in something of long term value if I was getting it rather than blowing it on something that will be just a memory this time next year.



Agree on both counts, Smurf.



Calliope said:


> As I am a taxpayer, I will be getting the 900 bucks. It will go a small way toward recouping some of my taxes,



I'm also a taxpayer, but via my SMSF so I don't get the $900.
Sure do get rewarded for taking responsibility for providing for one's own retirement instead of being a drag on the public purse.


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## kincella (11 March 2009)

Julia...you do receive a 50% discount in the superfund , compared with the average income earner on 30%....
oh and a poster was having a go at me..being entitled to the bonus...since I have properties..negatively geared....so you probably cant win either way...
I did not want the money...would rather they spend it on some fast rail (green travel) and other huge jobs needed around the country...and that would create jobs
I am so against this bonus, and the one at xmas


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## jonnycage (11 March 2009)

not entilted to it..

but if i was, a trip to the moon via  virgin

jonny


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## Judd (11 March 2009)

Gee there is a lot of the "What About Me" syndrome displayed by a number of people.

I may or may not get the $900.  I don't know.  However, if I don't I'll take the view that the reward for doing right when others didn't is that I'm living better than they are. So stop whining, peoples.


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## Prospector (11 March 2009)

Actually, I dont see the whining Judd. Even those who get it dont think it is the best way to stimulate the economy.  I'd rather they spent it on infrastructure for water for SA and Victoria.  Maybe I will blow it on penalties for watering my now dead garden on restricted days.


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## kincella (11 March 2009)

good point prospector....lost a magnificent japanes maple, irreplaceable...over 30 years old,
....and about $5000 spent on the  lawn and  garden on the new place

oh and someone stole the ball of  cactus....cost over $200....and the new japanese maple we were growing to replace the old one....
when family went on hols last year
actually believe it was the bloke looking after the garden who took it


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## beamstas (11 March 2009)

Im not getting any

Im a student and i work full time

In my opinion kevin rudd is gay. He says its for low income earners but it isn't because you need to earn over 11 grand to get it 

total idiot


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## prawn_86 (11 March 2009)

beamstas said:


> Im not getting any
> 
> Im a student and i work full time
> 
> ...




Students get it if you are on youth allowance.

if you lodged a tax return last year you also get it as far as im aware


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## beerwm (11 March 2009)

I would of had a great nice out at the casino, [honestly speaking]

although, unfortunately i was $500 short in earnings, and a few months off Youth Allowance


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## beamstas (11 March 2009)

prawn_86 said:


> Students get it if you are on youth allowance.
> 
> if you lodged a tax return last year you also get it as far as im aware




If i was a student full time and lived off centrelink, i'd get it.
If i worked full time and didnt go to school, i'd get it.


Because i work im not a full time student, so i don't get it for that.
Because im a student i didn't earn enough money last year to get it.

It's not for LOW income earners. You need to have more tax payable than you have tax offsets, so the Low income earners tax offset rules most low income earners out.

No one thought this through at all.


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## stock nub (11 March 2009)

prawn_86 said:


> Students get it if you are on youth allowance.
> 
> if you lodged a tax return last year you also get it as far as im aware






No you have to have paid at least 1 cent tax before you get the payment according to the website.

I miss out as im a full time student and didnt earn enough to pay tax.

If i did get it i would of probs spent it on someone elses girlfriend


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## RobinHood (11 March 2009)

do I need to claim my previously expropriated money (aka stimulus)? or is it automatically sent to my bank account?

Not spending it on ****, I just want my money back.


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## beamstas (11 March 2009)

RobinHood said:


> do I need to claim my previously expropriated money (aka stimulus)? or is it automatically sent to my bank account?
> 
> Not spending it on ****, I just want my money back.




If the ATO has your bank details, it should appear in your bank account
Otherwise they will just send you a cheque to your residential address

No need to claim or anything. 

Thanks
Brad


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## waz (11 March 2009)

Thanks to gearing I managed to reduce my tax so much that my offsets are more than my tax paid. So no bonus for me, even though Im classified as a low income earner (well for tax purposes).

Its nice that I got a good return last year, although Im just as entitled to the bonus as everyone else. The formula is screwed.

I can only imagine how many people there are who are overseas that will get the bonus just because they filled an Australian tax return.

Not to mention the 100,000 or so homeless people who will also not see a cent as homeless people dont exactly file returns. And since most do not have an address or bank account, they do not get any other govt. support either.

Also the people who are in jail. How is a person who filed a return last year, murdered someone this year, and will spend the rest of their life in prison going to spend the bonus? They wont, most crims will be sitting on that money.


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## beamstas (11 March 2009)

waz said:


> Thanks to gearing I managed to reduce my tax so much that my offsets are more than my tax paid. So no bonus for me, even though Im classified as a low income earner (well for tax purposes).
> 
> Its nice that I got a good return last year, although Im just as entitled to the bonus as everyone else. The formula is screwed.
> 
> ...




Yet people like me who work their a$$ off to pay for uni get nothing 
Maybe i should quit my job and live off centrelink.. heck the government would of even given me stimulus for draining this crappy economy even more!!


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## sting (11 March 2009)

Lucky Lucky Me I have 2 children at school so I get $1900 Probably invest inmore shares get em while their low, there are a lot of penny stocks out there that don't deserve to be there. 



OOPS, Have just been informed by the Minister for Finance, she gets the money into her account so scratch the share plan we  (read she ) has plans to replace the internal doors and door furniture in our house therefore proping up the hardware industry and creating more jobs for myself and my builder son in law even if these jobs are unpaid well maybe shout my SIL a carton of beer and a bbq.

UBIQUE


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## Garpal Gumnut (11 March 2009)

I don't get the bloody thing because I made too much in the market last year. These stimulus packages are wasted on lower earners, they should be given to those earning more than $100000 a year.

gg


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## beerwm (11 March 2009)

beamstas said:


> Yet people like me who work their a$$ off to pay for uni get nothing
> Maybe i should quit my job and live off centrelink.. heck the government would of even given me stimulus for draining this crappy economy even more!!




haha beamstas,

Part-time uni, and earnt less than $6000 last financial year.
I mean come on, harden up.

$6000/ $20 = 300hrs/ yr = 6 hours a week.
Halftime Uni = 14hrs / 2 =  7 hours a week.

i feel for you man


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## beamstas (11 March 2009)

beerwm said:


> haha beamstas,
> 
> Part-time uni, and earnt less than $6000 last financial year.
> I mean come on, harden up.
> ...




I earnt over $6000.
It's the tax offset that gets you beer.

Also, i worked 27 hours a week and did uni for 7 hours a week.
I didn't work for the full year, as i left college in '07


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## sting (11 March 2009)

Prawn_86 please accept my appologies it was not intended as a stock ramp I find it strangely coincidental that "XZY" has a 2 cent a share offer that closes 5 days after the payments are recieved focused on the "Mum and Dad investors to purchase in $500 lots.


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## prawn_86 (11 March 2009)

sting said:


> Prawn_86 please accept my appologies it was not intended as a stock ramp I find it strangely coincidental that "XZY" has a 2 cent a share offer that closes 5 days after the payments are recieved focused on the "Mum and Dad investors to purchase in $500 lots.




I highly doubt that any significant proportion of 'ordinary' Australians invest in micro cap shares, but i could be wrong.

In fact i would be interested in some stats on that... (anyone have some?)


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## beerwm (11 March 2009)

beamstas said:


> I earnt over $6000.
> It's the tax offset that gets you beer.
> 
> Also, i worked 27 hours a week and did uni for 7 hours a week.
> I didn't work for the full year, as i left college in '07





Tax offset? i dont follow you.

Dont worry though, im only kidding around,

I left highschool in '07 too, earnt 5500 in '08 FY, about 20000+ '09 FY,
and fulltime uni now - have to wait a few months for Youth Allowance.

I dont get anything, i know many who are that have better circumstances than myself, but oh well - i dont need it.


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## Julia (11 March 2009)

beamstas said:


> If i was a student full time and lived off centrelink, i'd get it.
> If i worked full time and didnt go to school, i'd get it.
> 
> 
> ...



Yep, situations like yours really suck.  Meantime, many people who received the last pre-Christmas are again getting several thousand.


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## gav (11 March 2009)

It will be going straight to the mortgage, my goal of paying it off in less than 10yrs is looking better every day


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## Smurf1976 (11 March 2009)

Prospector said:


> Actually, I dont see the whining Judd. Even those who get it dont think it is the best way to stimulate the economy.  I'd rather they spent it on infrastructure for water for SA and Victoria.  Maybe I will blow it on penalties for watering my now dead garden on restricted days.



To this day Tasmania still gets 6% of it's total electricity supply from a make-work scheme initiatied during the Great Depression. Tarraleah has long since been paid for and it's still sitting there humming away quite nicely as its done for the past 71 years. In 2009 dollars, it has produced about $2 billion worth of electricity thus far and it's nowhere near finished yet.

But I doubt we''ll see much long term value for this country from plasmas and nights out. 10 years time they will be a distant memory rather than a permanent feature of the physical and economic landscape. Spent now and quickly forgotten with most of the money headed straight overseas anyway.

Spend it on infrastructure be it water, power, roads or whatever. Do something that will still be producing real wealth 5, 10 and 100 years from now. Don't blow it on junk.

Jobs working on roads, dams, railways or other infrastructure may well be physically tough and not at all glamorous. But it's real, honest work bringing both an immediate boost and lasting benefits to the country. It's stuff we would still be using in 20 or 50 years time. That's more than can be said for sending our money overseas in return for another ship load of gadgets.


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## Bill M (11 March 2009)

gav said:


> It will be going straight to the mortgage, my goal of paying it off in less than 10yrs is looking better every day




Congratulations mate, nice to see someone using it wisely and in 10 years, it's all rent free/mortgage free. You're on the the right track mate.


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## Julia (11 March 2009)

Smurf1976 said:


> But I doubt we''ll see much long term value for this country from plasmas and nights out. 10 years time they will be a distant memory rather than a permanent feature of the physical and economic landscape. Spent now and quickly forgotten with most of the money headed straight overseas anyway.
> 
> Spend it on infrastructure be it water, power, roads or whatever. Do something that will still be producing real wealth 5, 10 and 100 years from now. Don't blow it on junk.
> 
> Jobs working on roads, dams, railways or other infrastructure may well be physically tough and not at all glamorous. But it's real, honest work bringing both an immediate boost and lasting benefits to the country. It's stuff we would still be using in 20 or 50 years time. That's more than can be said for sending our money overseas in return for another ship load of gadgets.



Ah, but that's just too sensible and logical for this government.  They are purely focused on the short term.  Just so stupid to be doing this cash handout stuff just so there will be a very temporary flick upwards in the next quarter's figures.  They continue to demonstrate that they are all about their own political self interest with zilch consideration given to the long term good of the country.  Grrr!!


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## Conza88 (11 March 2009)

Wysiwyg said:


> Back from what or whom?Also 1c doesn`t go far anyway so it seems a pointless time wasting exercise.




Get some of their money back, that was taken from them - via the threat of force, if they did not comply. i.e the Government. And if it was borrowed, then they'll have to pay it all back + more. And if it was printed, then they'll lose just as much due to the debasement of the currency.

*Taxation is theft.* 



> "But this theory of our government is wholly different from the practical fact. The fact is that the government, like a highwayman, says to a man: 'Your money, or your life.' And many, if not most, taxes are paid under the compulsion of that threat. The government does not, indeed, waylay a man in a lonely place, spring upon him from the roadside, and, holding a pistol to his head, proceed to rifle his pockets.
> 
> But the robbery is none the less a robbery on that account; and it is far more dastardly and shameful. The highwayman takes solely upon himself the responsibility, danger, and crime of his own act. He does not pretend that he has any rightful claim to your money, or that he intends to use it for your own benefit. He does not pretend to be anything but a robber.
> 
> ...


 _~ Lysander Spooner (1808-1887) Political theorist, activist, abolitionist.
_


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## gav (12 March 2009)

Thanks Bill M


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## Trevor_S (12 March 2009)

Julia said:


> Meantime, many people who received the last pre-Christmas are again getting several thousand.




http://www.smh.com.au/national/thousands-of-foreigners-splurge-stimulus-overseas-20090311-8vcg.html



> BARBARA TOKLEY was grateful, if a little embarrassed, to receive $1400 from the Rudd Government as part of its stimulus package to bolster the Australian economy. The trouble is, she is not an Australian citizen, she has not lived here since 1969, and she has spent every cent stimulating the New Zealand economy.




and



> Ms Tokley is far from alone. A Bondi reader told the Herald of her surprise at receiving "a phone call from Germany, where my ex-husband resides for the last 46 years, after working several years in Australia". He, too, got the $1400. It was galling for the woman who, at 67, still works and is entitled to none of the stimulus money. Her ex-husband has not lived here since about 1963.
> 
> "I cannot begin to imagine how huge a sum of money has left our country and is stimulating other economies!" she said.


----------



## Prospector (12 March 2009)

waz said:


> Thanks to gearing I managed to reduce my tax so much that my offsets are more than my tax paid. So no bonus for me, even though Im classified as a low income earner (well for tax purposes). Its nice that I got a good return last year, although Im just as entitled to the bonus as everyone else. The formula is screwed..




The logic is that it is a return of some of the tax you paid last year.  You got everything back, so you didnt pay any tax so nothing to return.


beamstas said:


> Yet people like me who work their a$$ off to pay for uni get nothing




Yeah, that sucks.  Most Uni students dont qualify for Independent Youth Allowance until they have left school for 18 months, and have also earnt over $18,000 in that time.  Which means that first and second year students miss out.



Smurf1976 said:


> Spend it on infrastructure be it water, power, roads or whatever. Do something that will still be producing real wealth 5, 10 and 100 years from now. Don't blow it on junk.




  But where are the votes in doing that Smurf!  Sheesh, what are you thinking!


----------



## Bill M (12 March 2009)

If you need to update your direct payment details then you got until 15 March to do it so I thought I'd give the number a call.

It's a voice recognition set up. First call didn't understand me and eventually cut me off. Then I had 2 calls where they had a recording saying it was too busy and on the 4th. attempt it went through. What a load of mucking about.

For those that need to call the ATO the number is 1300 686 636.


----------



## metric (12 March 2009)

like the last one, the banks will be the biggest recipients....as that is the way it was designed. obviously many people will pay it of the mortgage, or credit card payments.

the healthcare system is in ruins, yet no infrastructure spending has been announced. the bonus money would have been a good start...




.


----------



## aleckara (12 March 2009)

Prospector said:


> Yeah, that sucks.  Most Uni students dont qualify for Independent Youth Allowance until they have left school for 18 months, and have also earnt over $18,000 in that time.  Which means that first and second year students miss out.




I was under the impression that it was more than that. They have to be 'independent' as well. Most students don't rent; they live at home and don't claim these benefits. My impression is that you have to live out of home for 12 months, or be in a low income family to qualify for the allowance.


----------



## Prospector (12 March 2009)

aleckara said:


> I was under the impression that it was more than that. They have to be 'independent' as well. Most students don't rent; they live at home and don't claim these benefits. My impression is that you have to live out of home for 12 months, or be in a low income family to qualify for the allowance.





No, they just have to have earned this amount, they can still be at home - refer this link:
http://www.centrelink.gov.au/internet/internet.nsf/payments/ya_independent.htm

I agree, many students dont know about it.


----------



## white_goodman (12 March 2009)

Prospector said:


> No, they just have to have earned this amount, they can still be at home - refer this link:
> http://www.centrelink.gov.au/internet/internet.nsf/payments/ya_independent.htm
> 
> I agree, many students dont know about it.




yeh im technically independent and cos i live in a granny flat at home im deemed more "independent"...

so with my job now i still get $40 a month lol, but its approx $700 a month if im unemployed


----------



## Ashsaege (12 March 2009)

I've been a uni student for quite a few years now (changed a few degrees), and i work full time. So i wont be eligible for the double whammy because i don't receive youth allowance?

I will spend my money on either shares, aquarium, DSLR camera, pay off some debt, or buy another guitar. It depends on how i feel at the time. 

We must be getting close to a bear market rally... so i could put it to some more shares.


----------



## mattlaw (12 March 2009)

I will be spending my stimulus on a new set of custom made wishon golf clubs. They are a backyard job so the stimulus will cover the full set.


----------



## Julia (12 March 2009)

A suggestion here that quite a few people who think they will be receiving the bonus will not actually be eligible:

http://www.news.com.au/couriermail/story/0,23739,25174104-5015825,00.html?referrer=email


----------



## Conza88 (12 March 2009)

*Re: How are you spending your stimulus*



GumbyLearner said:


> Shut-up liar.
> 
> This is a MAMMOTH home run for WALL STREET BANKERS
> 
> ...





http://www.youtube.com/watch?v=ZWVmlxhk-tU

lol


----------



## Calliope (12 March 2009)

Those taxpayers receiving the $900 package won't have much time to enjoy it. Rudd and Swan are planning to yank it right back again in the next budget to pay for their planned rise in single pensioners' pensions. 

This feel-good measure is one the Coalition cannot oppose.


----------



## Bill M (12 March 2009)

Julia said:


> A suggestion here that quite a few people who think they will be receiving the bonus will not actually be eligible:
> 
> http://www.news.com.au/couriermail/story/0,23739,25174104-5015825,00.html?referrer=email




I was doubting if I was going to get anything after I read that story. For anyone who wants to see if they will get the Tax Bonus Payment the ATO has a tax calculator on their website. Scroll down to "tax bonus calculator" and click on that link, enter your details and it will tell you if you are eligible, good luck.

Here is the link:
http://www.ato.gov.au/corporate/content.asp?doc=/Content/00178930.htm


----------



## dan-o (12 March 2009)

New season AFL guernseys are $99 at A mart allsports. I reckon thats a good start for spending a little of the stimulus. I love the excitement that comes at the start of every season...


----------



## white_goodman (12 March 2009)

coke binge...


----------



## nunthewiser (12 March 2009)

gunna set up a 900 bucks a day drug and alco rehab day spa


----------



## beerwm (12 March 2009)

Prospector said:


> No, they just have to have earned this amount, they can still be at home - refer this link:
> http://www.centrelink.gov.au/internet/internet.nsf/payments/ya_independent.htm
> 
> I agree, many students dont know about it.




Also, if you save any of the $18,000 you earn, you need to pass an assets test which will require you to wait up to 3 months.

SO SPEND IT ALL!! - what a joke.

this is my first year of uni, and ill still have to wait about 2 months + 3 months til i get my payments.

$250 a fortnight, while living at home ---> very livable income.


----------



## Prospector (12 March 2009)

beerwm said:


> Also, if you save any of the $18,000 you earn, you need to pass an assets test which will require you to wait up to 3 months.
> 
> SO SPEND IT ALL!! - what a joke.
> 
> ...




Yep, I have warned son that he can have no more than $2500 in his bank account when he applies.  Did you defer a year?  He can apply on May 23rd, but he is in second year.  He doesnt seem to have had any problems divesting himself of any excess funds.

Just a question beerwm; how do you prove the amount you earn over an 18 month period - the tax certificates are for a full financial year, and as you can cover 2 FY periods how will that work?  A letter from the employee?


----------



## sinner (12 March 2009)

Calliope said:


> Those taxpayers receiving the $900 package won't have much time to enjoy it. Rudd and Swan are planning to yank it right back again in the next budget to pay for their planned rise in single pensioners' pensions.
> 
> This feel-good measure is one the Coalition cannot oppose.




Har jokes on them! I plan to have all my money in buried gold by then and expect to be fully unemployed by the time the next budget rolls around : 

They won't be able to take back a cent! Mwuahahah

 O wait


----------



## beerwm (12 March 2009)

Prospector said:


> Yep, I have warned son that he can have no more than $2500 in his bank account when he applies.  Did you defer a year?  He can apply on May 23rd, but he is in second year.  He doesnt seem to have had any problems divesting himself of any excess funds.
> 
> Just a question beerwm; how do you prove the amount you earn over an 18 month period - the tax certificates are for a full financial year, and as you can cover 2 FY periods how will that work?  A letter from the employee?




Yes Prospector,

I defered a year, didnt know where i wanted to go and saw this opportunity in the meanwhle. 
I finished school on Nov. 15 - so its about mid-May for me .

I plan to use my pay-slips - they have a yearly earning sum.
Also toying with the idea of doing 75% uni study, that way i can stay on for a year longer and get Youth Allowance, love the uni life.

it really is just free money


----------



## jackson8 (12 March 2009)

Julia said:


> A suggestion here that quite a few people who think they will be receiving the bonus will not actually be eligible:
> 
> http://www.news.com.au/couriermail/story/0,23739,25174104-5015825,00.html?referrer=email




after reading information on both centrelink and ato sites my understanding is that as long as you have a taxable income of over around about 12 grand then you will receive the $$$

any amount less than this is in the low income bracket and therefore you will not have any tax liability as low income offsets cancel out any tax having to be paid

even if you only need to pay a $5 tax liability you will receive the bonus

a good way to get an accurate figure is to use etax as it will work out all of the gov. rebates that you may be eligible for


----------



## gav (12 March 2009)

Bill M said:


> If you need to update your direct payment details then you got until 15 March to do it so I thought I'd give the number a call.
> 
> It's a voice recognition set up. First call didn't understand me and eventually cut me off. Then I had 2 calls where they had a recording saying it was too busy and on the 4th. attempt it went through. What a load of mucking about.
> 
> For those that need to call the ATO the number is 1300 686 636.




Yes, I had problems with it yesterday too.  I was on hold for 20mins once and it just cut out.  Next time I was told I there would be a 40min wait so I ended the call.  Next 2 times had a recording saying it was too busy.  So I waited until 10pm last night as I thought it would be less busy.  First call didn't understand me, so it tried to transfer me to a person - but it told me to call back during business hours then hang up.  Then finally, I got it done.  Hallelujah!!


----------



## Trevor_S (12 March 2009)

Bill M said:


> I was doubting if I was going to get anything after I read that story.




Thanks for the link

Though I doubted we would, the ATO link confirmed it, apparently both I (and my partner) pay too much tax to qualify... those that do get, it enjoy my largess


----------



## GumbyLearner (12 March 2009)

I'm not entitled to any stimulus.

But if I was I'd probably go down to local Hertz or Avis and rent a brand new Holden or Ford 6-8 cyl take it close to a storm water catchment where the silt had built up on the bitumen and do some circle work for fun.  :

I'm sure there are many other meaningless and ridiculous ways I could use the cash. That was just the first that came to mind.


----------



## 2BAD4U (12 March 2009)

I don't agree with the hand outs so I'm not keeping mine, going straight to charity.


----------



## Wysiwyg (12 March 2009)

jackson8 said:


> after reading information on both centrelink and ato sites my understanding is that as long as you have a taxable income of over around about 12 grand then you will receive the $$$




Not true!

To confirm eligibility the ATO have a Tax Bonus Calculator and it is dependant on your .... tax on taxable income + medicare levy/surcharge - tax offsets and other credits.


----------



## Julia (12 March 2009)

2BAD4U said:


> I don't agree with the hand outs so I'm not keeping mine, going straight to charity.



Great stuff, 2BAD4U.   The charities are much in need at present.
We could do with more like you.


----------



## Garpal Gumnut (12 March 2009)

2BAD4U said:


> I don't agree with the hand outs so I'm not keeping mine, going straight to charity.




Good on you mate
gg


----------



## GumbyLearner (13 March 2009)

Cramer vs. Jon Stewart to smash it out tonight

CNBC's Cramer to spar with Comedy Central's Jon Stewart

http://www.usatoday.com/money/media/2009-03-11-cnbc-cramer-stewart_N.htm

Jim Cramer on Stock Market Manipulation


----------



## chatty (13 March 2009)

straight to home loan:


----------



## knocker (13 March 2009)

P!ssing it up over seas, not that I need it but I got it. Well done KRuddy. thx mate lol


----------



## Julia (13 March 2009)

knocker said:


> P!ssing it up over seas, not that I need it but I got it. Well done KRuddy. thx mate lol



Umm, maybe thank your fellow tax payers, not Mr Rudd.


----------



## knocker (13 March 2009)

Julia said:


> Umm, maybe thank your fellow tax payers, not Mr Rudd.



Yes indeed, for voting in an in adept leader. Thank-you


----------



## nulla nulla (13 March 2009)

Groceries, clothing, alcohol and a donation to Woolworths/Caltex for an over priced tank of fuel.


----------



## Green08 (13 March 2009)

Put it in the bank.   Wait for the real sales to begin 6 months.  Solar Panels for my business.  Change the Solar panel rebate for business after 30 June 2009.   Claim it against tax next year.


----------



## Macquack (13 March 2009)

Garpal Gumnut said:


> I don't get the bloody thing because I made too much in the market last year. These stimulus packages are wasted on lower earners, *they should be given to those earning more than $100000 a year.*
> gg




GG, $900 wouldn't even pay for a "grease and oil change" (common speak for "Full Service") on your Bentley Arnage Turbo.


----------



## billv (13 March 2009)

We've received $2800 
$950 each for 2 kids under 18 and $900 because we are a single income family.

I thought we wouldn't get anything because I earn too much but Kevin007 thinks differently. 
He must know something I don't.....

Anyway, as per his instructions we are going spending tomorrow 
and I hope he knows what he is doing because the way he is going the country could go bankrupt.......


----------



## Julia (13 March 2009)

69,000 of these payments went overseas.


----------



## Bill M (14 March 2009)

Julia said:


> 69,000 of these payments went overseas.




I know a lot of Aussies who worked their guts out in this country paying taxes all there lives. Now they choose to live overseas and still pay taxes here. I think they have just as much rights as any other tax payer to get their benefits. I fully support equal rights for all Australian Tax Payers no mater where they live.


----------



## billv (14 March 2009)

Bill M said:


> I fully support equal rights for all Australian Tax Payers no mater where they live.




I do as well but I question the logic behind both payments which we've both received (thanks Kevin) and the eligibility criteria.

I am also scared to think how we will pay back this money because what they are giving away is largely money we don't have, or money we had allocated for other important things. 

In the meantime the country needs massive infrastructure spending
but instead of spending money where it's needed we are told to waste it on plasma screens and other consumer goods the majority of them imported....

This spending will probably make his quarterly figures look better
so we would have avoided the recession by fudging the figures
but it won't stop us from being unemployed because with no spending on projects within this country we are only delaying the inevitable.

My


----------



## Wysiwyg (14 March 2009)

I know IG Markets (pommy CFD brokerage) are waiting with baited breath.(sorry fellas  ) 

Remember which side you are on ... 



> The best side to be on - as is the case with warrants, blackjack, roulette, baccarat and pokies - is providing the product, not punting it.


----------



## Bill M (14 March 2009)

billv said:


> I do as well but I question the logic behind both payments which we've both received (thanks Kevin) and the eligibility criteria.
> 
> I am also scared to think how we will pay back this money because what they are giving away is largely money we don't have, or money we had allocated for other important things.
> 
> ...



Hi billv, I agree. I was sitting about in the RSL club the other night and there were 5 people at my table from all walks of live. Not one of them including me thought the $900 per person was a good idea. Spending it on needed infrastructure is a far better solution I think. I travel the Sydney to Gold Coast route via HWY 1 quite regularly, it just astounds me that the majority of the way is still two way, 1 lane each way roads. We are in a so called 1st. world country with really crappy roads. I said to my group of friends that we should hire a gang of 1,000 men, get the plant into place, put the dongas up and keep building the HWY until it's 4 lanes all the way to Brissie. This can be applied to anywhere in OZ where it's needed, this is the kind of projects KRudd should be looking at.


----------



## Stormin_Norman (14 March 2009)

cocaine and hookers!


woot!!


----------



## Prospector (14 March 2009)

billv said:


> We've received $2800
> $950 each for 2 kids under 18 and $900 because we are a single income family.
> 
> I thought we wouldn't get anything because I earn too much but Kevin007 thinks differently.
> ...




I gather you must be on Family Benefits A then?  Which means you dont earn that much at all, and will also get another $900 payment shortly.  Those criteria for Family Benefits are really tough, yet you thought you earnt too much?


----------



## billv (14 March 2009)

Prospector said:


> I gather you must be on Family Benefits A then?  Which means you dont earn that much at all, and will also get another $900 payment shortly.  Those criteria for Family Benefits are really tough, yet you thought you earnt too much?




I think the $900 payment is included.

I had reduced taxable income last year because of the high interest rates and negative gearing from my IP's but this year it's all sweet.
Rents have gone up by nearly 20% and interest repayments are down by $500/week compared to last September so we can afford to eat again...

Anyway, we went shopping this morning and spent a few hundred on imported goods and about $50 on fruit and veg. I hope it makes Kevin happy. Most of the money will go straight to China and he will get to keep his 10% GST.


----------



## Prospector (14 March 2009)

billv said:


> I think the $900 payment is included.
> 
> I had reduced taxable income last year because of the high interest rates and negative gearing from my IP's but this year it's all sweet.
> Rents have gone up by nearly 20% and interest repayments are down by $500/week compared to last September so we can afford to eat again...
> ...




Our income was reduced because of property negative gearing, but being able to then go on to claim Family Benefits because of negative gearing  was stopped and so you had to "add it on" to stop property investors from being able to claim low income (Family) benefits.   So it shouldnt have played a part in you receiving Family Benefits, especially if you thought your income was too high to receive the Tax back (ie over $100,000)  Are you sure you are eligible for family benefits if you include the losses from your rental.

This is taken from the ATO Family Benefits Calculator:
http://calculators.ato.gov.au/scripts/axos/axos.asp?CONTEXT=&KBS=08ftb001i.xr4&go=ok

Family adjusted taxable income (ATI) – for this status period
		                             You	      Your spouse during this status period	

Taxable income					
Reportable fringe benefits					
Net rental property losses	

These are all added in to bump up the Taxable income.


----------



## Garpal Gumnut (14 March 2009)

Prospector said:


> Our income was reduced because of property negative gearing, but being able to then go on to claim Family Benefits because of negative gearing  was stopped and so you had to "add it on" to stop property investors from being able to claim low income (Family) benefits.   So it shouldnt have played a part in you receiving Family Benefits, especially if you thought your income was too high to receive the Tax back (ie over $100,000)  Are you sure you are eligible for family benefits if you include the losses from your rental.
> 
> This is taken from the ATO Family Benefits Calculator:
> http://calculators.ato.gov.au/scripts/axos/axos.asp?CONTEXT=&KBS=08ftb001i.xr4&go=ok
> ...




It certainly beats having to go on the road or shoot rabbits fro a feed as many folk had to do during the last depression.

And they didn't have financial advisers.

gg


----------



## Prospector (14 March 2009)

You know GG, my mother and her parents went through the depression. That is after her father served in France at the age of 17.   It is something that she never, ever wants her children/grandchildren to experience.  I am not sure what the point of your post is; would you prefer that people have to revert to shooting rabbits just to feed their kids?


----------



## Garpal Gumnut (14 March 2009)

Prospector said:


> You know GG, my mother and her parents went through the depression. That is after her father served in France at the age of 17.   It is something that she never, ever wants her children/grandchildren to experience.  I am not sure what the point of your post is; would you prefer that people have to revert to shooting rabbits just to feed their kids?




No, it is more of a comment on the "New" Class who dictate to the rest of us,  the working class, whether we be rich or poor, and who seem by the manipulation of figures and doing jobs that do not add net wealth to this country, to be a preponderance on this thread.

gg


----------



## Prospector (14 March 2009)

Garpal Gumnut said:


> No, it is more of a comment on the "New" Class who dictate to the rest of us,  the working class, whether we be rich or poor, and who seem by the manipulation of figures and doing jobs that do not add net wealth to this country, to be a preponderance on this thread.
> 
> gg




What is the new class, what is the working class and you talk about doing jobs that dont add to the net wealth of this country - that means Doctors, Dentists, physios and the like ?  Anyone that doesnt produce a product I guess.  Ah, we are back to blue collar workers again, aren't we!


----------



## johenmo (14 March 2009)

Prospector said:


> I gather you must be on Family Benefits A then?  Which means you dont earn that much at all, and will also get another $900 payment shortly.  Those criteria for Family Benefits are really tough, yet you thought you earnt too much?




I was surprised at how much you can earn.  We had 2 kids at home last year 1 under and 1 over 18, and we were allowed a total income of 106K.  Did it as a lump sum as we have just returned from NZ and it's all new.

Because the taxable income is post super deductions, this took us from over the limit to well under it.  And this doesn't include the stimulus package stuff that's yet to come.


----------



## Prospector (14 March 2009)

johenmo said:


> Because the taxable income is post super deductions, this took us from over the limit to well under it.




I think that 'loophole' might be closed soon too - just like they did with negative gearing on property.


----------



## johenmo (14 March 2009)

Prospector - and so it should.  But should the payments be in the form of cash?  Maybe something else may reduce the "waste".


----------



## Trevor_S (14 March 2009)

Prospector said:


> What is the new class,




The Welfare class....?  we seem replete with them and I am not talking the about the genuinely needy.

While not necessarily espousing the author, the sentiment rings true



> “Friend, you cannot legislate the poor into freedom by legislating the wealthy out of freedom. And what one person receives without working for, another person must work for without receiving. The government can’t give to anybody anything that the government does not first take from somebody. And when half of the people get the idea they don’t have to work because the other half’s going to take care of them, and when the other half get the idea it does no good to work because somebody’s going to get what I work for. That, dear friend, is about the end of any nation.”


----------



## Julia (14 March 2009)

Bill M said:


> I know a lot of Aussies who worked their guts out in this country paying taxes all there lives. Now they choose to live overseas and still pay taxes here. I think they have just as much rights as any other tax payer to get their benefits. I fully support equal rights for all Australian Tax Payers no mater where they live.



You are missing my point, Bill.  The whole point of these cash payments is supposed to be to stimulate the AUSTRALIAN economy.

And if you support equal rights for all Australian Tax Payers then how do you feel about Australian citizens who have paid substantial tax via SMSF's, and who don't receive Family Tax Benefit A, B, or Z, are self funded so as not to be a drag on the remaining taxpayers, but who receive nothing from any stimulus package?


----------



## Prospector (14 March 2009)

Julia said:


> You are missing my point, Bill.  The whole point of these cash payments is supposed to be to stimulate the AUSTRALIAN economy.




And even to qualify for Family Tax benefits you need tobe a resident of Australia, so how on earth did people living overseas get the money!  I guess Julia, this whole package was never about stimulating the Australian economy at all; just a sweetener for (some of) the electorate.


----------



## Julia (14 March 2009)

Prospector said:


> I guess Julia, this whole package was never about stimulating the Australian economy at all; just a sweetener for (some of) the electorate.



Yep, all part of the ongoing campaign to keep Kev riding high in the opinion polls.
Meantime, he's racking up a deficit that will eventually have to be paid back.
Hope everyone is still so cheerful when all the additional taxes happen.


----------



## Bill M (14 March 2009)

Julia said:


> You are missing my point, Bill.  The whole point of these cash payments is supposed to be to stimulate the AUSTRALIAN economy.
> 
> And if you support equal rights for all Australian Tax Payers then how do you feel about Australian citizens who have paid substantial tax via SMSF's, and who don't receive Family Tax Benefit A, B, or Z, are self funded so as not to be a drag on the remaining taxpayers, but who receive nothing from any stimulus package?



I already stated in an earlier post that the $900 tax bonus is a waste of time and money and it isn't the best way to stimulate the economy. I know many of my friends who will just save this money, others will go overseas, some are already overseas...... *The Government can't tell you how to Spend it*. I can't speak for family benefits as I don't have any kids, only a wife but as far as SMSF's go I don't know why they were excluded. In my case I am self funded too but *outside* of super and I pay normal PAYG tax rates. SMSF's taxes are much lower than normal tax rates. Maybe the Govt. thought super retirees are already getting tax breaks and normal PAYG's are not. I don't know what was the rationality they used when they thought up this payment.


----------



## billv (14 March 2009)

Prospector said:


> Are you sure you are eligible for family benefits if you include the losses from your rental.




I don't get involved in what centrelink does or how they asses my income.
In fact I don't want to have anything to do with them. 
I just do my tax return every year using a tax agent and I pay my taxes.

My income is all visible and I can't hide it.
They see how much I earn when I do my tax return and they then adjust the small amount they pay fortnightly to my wife.

I have to say though, they are very generous with the stimulus payments. 
I hope they don't ask for it back because we are spending it all.


----------



## Julia (14 March 2009)

billv said:


> I have to say though, they are very generous with the stimulus payments.



Generous?  With borrowed money that will have to be paid back one day?
Does this really make sense to you???


----------



## billv (15 March 2009)

Julia said:


> Does this really make sense to you???




Julia

No, it doesn't make sense but I am not going to give it back.

I went to the shops again today and looked around, bought a few things but in general we have everything we need. 
Apart from shopping I think we should spend some money on a weekend trip.

The other option would be to give some money to charity.
In the last financial year our donations halved because our loan repayments were very high and we couldn't afford to give much but this year we can afford to be generous.


----------



## Julia (15 March 2009)

Wow, it just keeps getting better.   How fantastic that the stimulus package is going to dead people!

http://www.abc.net.au/news/stories/2009/03/12/2514406.htm


----------



## Sith1s (18 March 2009)

Had this joke email sent to me today... I'll post the contents as it gave me a bit of a laugh...

Stimulus Payment Information.

“This year, taxpayers will receive an Economic Stimulus Payment. This is a very exciting new program that I will explain using the Q and A format:

Q. What is an Economic Stimulus Payment?
A. It is money that the federal government will send to taxpayers.

Q. Where will the government get this money?
A. From taxpayers.

Q. So the government is giving me back my own money?
A. Only a smidgin.

Q. What is the purpose of this payment?
A. The plan is that you will use the money to purchase a high-definition TV set or some such thing, thus stimulating the economy.

Q. But isn’t that stimulating the economy of China ?
A. Shut up.

Below is some helpful advice on how to best help the Australian economy by spending your stimulus cheque wisely:

If you spend that money at Kmart, all the money will go to China .
If you spend it on petrol it will go to the Arabs.
If you purchase a computer it will go to India .
If you buy a car it will go to Japan .
If you purchase useless crap it will go to Taiwan .

And none of it will help the Australian economy.
We need to keep that money here in Australia. You can keep the money in Australia by spending it at garage sales, going to a cricket match or footy game, or spend it on prostitutes, beer and wine (domestic ONLY), or tattoos, since those are the only businesses that may still be owned by Aussies.
Thank you all Australians,

Your mate,
K.RUDD.


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## white_goodman (23 March 2009)

any news when the youth allowance recipients receive their $950?


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## Struzball (23 March 2009)

Into the bank, along with another $5billion or so of stimulus payments.  
Good news for banks.  Bugger all for the economy.


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## darnsmall (23 March 2009)

i think i'm now going to buy some gold and dip it in oil...lots of oil...well what ever is left over after buying the gold


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## prawn_86 (23 March 2009)

white_goodman said:


> any news when the youth allowance recipients receive their $950?




Between the 26th of march and 9th (I think) of April. Its on Centrelinks website


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## sinner (23 March 2009)

The last few weeks has provided me with some time to further ponder this $950 and what I could do with it.

$950 is about the cost of half a semesters worth of post-graduate subjects, so maybe I could do a PGC Education or PGC Computer Forensics or even an MBA!

$950 is also a bit over two months living expenses for me (not incl rent, with $214 left for charity or precious metals allocation) so I could finally up my "f you fund" (where I put money in case I need to tell my boss "f you") to 6 whole months of living expenses. I am kind of tempted to do this after seeing an article on Mishs blog stating a huge portion of Americans don't even have one months living expenses saved up.

$950 is just under one years health insurance paid off in full.

$950 is more than enough to buy some new DJ equipment. I have been pining for a schmick USB MIDI controller for months.

Remember guys, money is not all serious. I would like to see some people having *fun* spending their cash!


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## skyQuake (23 March 2009)

Come on 4, 11, 13, 23, 34, 37!


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## nizar (23 March 2009)

sinner said:


> I would like to see some people having *fun* spending their cash!




Im going to Abu Dhabi & Dubai in a couple of weeks.
Will be using the $900 to top up my spending money


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## numbercruncher (23 March 2009)

nizar said:


> Im going to Abu Dhabi & Dubai in a couple of weeks.
> Will be using the $900 to top up my spending money





tsk tsk ... thats hardly stimulating the Oz economy or bolstering up Aussie banks now is it ....  All these pesky school kids can look forward to higher taxes to pay back your OS party


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## adobee (23 March 2009)

have to spend it on my accounts fees to do my tax return to get the money..


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## glads262 (23 March 2009)

Our $1900 will either pay for our last holiday to Sydney/Newcastle ($15000 for the month) or pay for our next holiday to Mt Buller (about $5000), or the Piano we just bought ($1200) 
But hang on, this is all stuff we were going to do anyway?
Maybe...
Donate $2500 to charity ($1900 plus the 30% deduction)
Buy a solar unit for the roof (in SA, will save money each year)
Buy a solar hot water unit (see above)
Put in insulation (save money each year, plus get more $ from Krud)
Put in a rainwater tank plumbed to the toilet etc (save money each year)
upgrade an old fridge (save money each year)
Take it to Coles & buy $2000 worth of Australian made canned food, toiletaries, laundry detergent, toilet paper, whatever else. (save paying for foreign groceries for the next 12 months)(this might sound crazy, but at least it benefits Australia... and if stuff is on special it might save you money)
Any other ideas out there??
If you didn't get the money, don't stress or whinge cos there is nothing you can do about it.
If you did get the money, don't stress or whinge - think of something positive to do with the $$ to help yourself, the environment, the less well off, and the Australian economy in general.


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## prawn_86 (23 March 2009)

glads262 said:


> Take it to Coles & buy $2000 worth of Australian made canned food, toiletaries, laundry detergent, toilet paper, whatever else. (save paying for foreign groceries for the next 12 months)(this might sound crazy, but at least it benefits Australia... and if stuff is on special it might save you money)
> 
> If you did get the money, don't stress or whinge - think of something positive to do with the $$ to help yourself, the environment, the less well off, and the Australian economy in general.




Why should i want to help the Australian economy? I will spend mine overseas thankyou very much 

I dont see why we should buy any differently with this money (IE - buy Aussie goods if we dotn normally) than with any other money


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## glads262 (23 March 2009)

prawn_86 said:


> Why should i want to help the Australian economy? I will spend mine overseas thankyou very much
> 
> I dont see why we should buy any differently with this money (IE - buy Aussie goods if we dotn normally) than with any other money




Prawn, every little bit adds up. If everyone in Australia just changed from buying say, foreign toilet paper, canned food, etc etc, then we wouldn't have a trade deficit.

My rationale for buying aussie goods with the money is, the money has come from the Aus gov't and will need to be payed back eventually. By spending it on Aussie made goods, you are boosting the amount that will naturally go back to the govt via taxes, higher employment etc. This means that WE ALL will have to pay less of it back later than if we all went out and blew it on cheap crap from China (of which fed govt gets nothing - GST 100% to states.)

Rather than spend it on cheap crap that detracts from ours and our childrens future, spend it on stuff that will benefit the country(ie ALL OF US)
If that means using it to switch from Toilet paper made in China and shipped a few 1000kms to you, to Aussie made - so be it.

Cheers.


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## prawn_86 (23 March 2009)

Buy WHY would i pay more for the same quality product? I want to maximise my gains/returns/utility, so why should i buy something from Aus?

I just dont see the point to be honest.

I guess its the whole globalisation vs protectionism arguement. Im all for globalisation, but ideally it would be true laisse-faire style with no tarriffs etc.


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## nunthewiser (23 March 2009)

prawn_86 said:


> Buy WHY would i pay more for the same quality product? I want to maximise my gains/returns/utility, so why should i buy something from Aus?
> 
> I just dont see the point to be honest.
> 
> I guess its the whole globalisation vs protectionism arguement. Im all for globalisation, but ideally it would be true laisse-faire style with no tarriffs etc.





 dont you be whinging to us that some indian call centre dude has just stolen your job in the future m8 

we reap what we sow . dont buy austrailian ........ australia goes out of business


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## white_goodman (23 March 2009)

the reason people dont buy a lot of aussie products is that their not compeititve on price/quality... thus we should not have to subsidise them by playing the old "buy australian" line...

my $1850 is going directly into my forex account in which I will then enter a live trading comp and win a billion gajillion dollars  and by that I mean blow the lot MWAHAHAHA


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## nunthewiser (23 March 2009)

white_goodman said:


> the reason people dont buy a lot of aussie products is that their not compeititve on price/quality... thus we should not have to subsidise them by playing the old "buy australian" line...





totally agree ..... tis a knife that cuts both ways


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## prawn_86 (23 March 2009)

nunthewiser said:


> dont you be whinging to us that some indian call centre dude has just stolen your job in the future m8
> 
> we reap what we sow . dont buy austrailian ........ australia goes out of business




In theory Australia should adapt towards being an information economy. But our pollies are too useless to even get us top of the line Internet speeds.

And there's already no/very few jobs for us finance graduates nun...


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## nunthewiser (23 March 2009)

prawn_86 said:


> In theory Australia should adapt towards being an information economy. But our pollies are too useless to even get us top of the line Internet speeds.
> 
> And there's already no/very few jobs for us finance graduates nun...




Totally agree . there are many areas in which oz can and should lead the way in but thered tape and the hurdles our OWN guvverment places in the way dont give much incentive to do so ...

sorry to hear about the job situation in your chosen line ....  could always join the indian stock xchange  heard there booming with all the work heading there way


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## Grinder (23 March 2009)

tossing up between a getaway to the Whitsundays or a Trek road bike I saw the other week.

but come to think of it I'll probs just throw it into the trading account.


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## Julia (23 March 2009)

white_goodman said:


> the reason people dont buy a lot of aussie products is that their not compeititve on price/quality... thus we should not have to subsidise them by playing the old "buy australian" line...



I agree absolutely.   I don't want my tax dollars to be used in propping up Australian companies which are simply not competitive in terms of quality and price.


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