How are you spending your stimulus?

[RobinHood]

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.

 

[beamstas]

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

 

[waz]

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.

 

[beamstas]

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.

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!!

 

[sting]

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

 

[Garpal Gumnut]

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

 

[beerwm]

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

 

[beamstas]

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

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

 

[sting]

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.

 

[prawn_86]

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?)

 

[beerwm]

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.

 

[Julia]

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.

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

 

[gav]

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

 

[Smurf1976]

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.

 

[Bill M]

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.

 

[Julia]

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!!

 

[Conza88]

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.

He has not acquired impudence enough to profess to be merely a 'protector,' and that he takes men's money against their will, merely to enable him to 'protect' those infatuated travellers, who feel perfectly able to protect themselves, or do not appreciate his peculiar system of protection. He is too sensible a man to make such professions as these. Furthermore, having taken your money, he leaves you, as you wish him to do.

He does not persist in following you on the road, against your will; assuming to be your rightful 'sovereign,' on account of the 'protection' he affords you. He does not keep 'protecting' you, by commanding you to bow down and serve him; by requiring you to do this, and forbidding you to do that; by robbing you of more money as often as he finds it for his interest or pleasure to do so; and by branding you as a rebel, a traitor, and an enemy to your country, and shooting you down without mercy, if you dispute his authority, or resist his demands. He is too much of a gentleman to be guilty of such impostures, and insults, and villanies as these. In short, he does not, in addition to robbing you, attempt to make you either his dupe or his slave."

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

 

[gav]

Thanks Bill M

 

[Trevor_S]

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]

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.

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.

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!