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How are you spending your stimulus?

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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.
 
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...




.
 
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.
Click to expand...

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.
 
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.
 
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.
 
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.
 
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
Click to expand...

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
 
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...
 
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.
Click to expand...

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.
 

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?
 

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
 

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
 
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
Click to expand...

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
 

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!!
 
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