Second stimulus package discussion

[mattlaw]

Major points in $42 billion mini-budget:

* $14.7 billion to be invested in school infrastructure and maintenance and bringing forward funding for trade training centres;

* $6.6 billion to increase the national stock of public and community housing by about 20,000 new homes;

* $3.9 billion to provide free insulation to 2.7 million homes and solar hot water rebates;

* $890 million to fix regional roads and blackspots, to install railway boom gates and for regional and local government infrastructure;

* $2.7 billion small and general business tax break to provide deductions for some equipment purchases before the end of June 2009;

* $12.7 billion for immediate one-off payments to working Australians, families with school-age children, farmers, single income families and for those undergoing training.

 

[Nyden]

Yipee!!

http://www.pm.gov.au/media/Release/2009/media_release_0778.cfm

$1900 is coming my way

Students receiving youth allowance get $950, and individuals that paid tax from 07-08 (with anything left over) get an upfront refund on that of an additional $950.

 

[drsmith]

Was that the kitchen sink that just got launched into orbit from the treasury bunker?

 

[Julia]

Yipee!!

http://www.pm.gov.au/media/Release/2009/media_release_0778.cfm

$1900 is coming my way

Students receiving youth allowance get $950, and individuals that paid tax from 07-08 (with anything left over) get an upfront refund on that of an additional $950.

Does anyone know if this includes tax paid within a SMSF?

 

[drsmith]

Qualification for the lump sum tas bonus will be based on 2007/08 income with qualification calculated by the tax office based on tax records submitted for that year.

The RBA has cut interest rates by 1% to 3.25%. The accompanying statement suggests that it may have been more had it not been for today's fiscal stimulus.

 

[Prospector]

Could someone who is cleverer than me please answer the following:

If we were actually in a recession (and not just trying to avoid one) would the schemes that Rudd is putting up be the best way to go?

The experts say we are in for a recession yet Rudd's spending is based on avoiding it. So would/should things be done differently if the recession is actually out of our control

 

[cuttlefish]

I can't believe they are spending $4 billion to put in insulation. They've lost the plot. Might be time to buy Yen ...

 

[Prospector]

And another question, if this package is designed to stimulate jobs, then why isnt business included in any of the benefits? Giving money to tax payers wont save their jobs, but helping business will.

 

[aleckara]

Yipee!!

http://www.pm.gov.au/media/Release/2009/media_release_0778.cfm

$1900 is coming my way

Students receiving youth allowance get $950, and individuals that paid tax from 07-08 (with anything left over) get an upfront refund on that of an additional $950.

Sad for the students who still live at home and need a job to afford to study - and trust me there are a lot more of these than ones on Centrelink. Not all students can live near universities after all; there isn't enough accomodation for that.

 

[Prospector]

Sad for the students who still live at home and need a job to afford to study - and trust me there are a lot more of these than ones on Centrelink. Not all students can live near universities after all; there isn't enough accomodation for that.

Those students who are employed will get $950, assuming they paid tax last year. Each one of us in our family will receive this payment.

 

[Nyden]

Those students who are employed will get $950, assuming they paid tax last year. Each one of us in our family will receive this payment.

Hmm, not entirely true. As is my understanding - one would need to earn enough as to have actually paid enough tax to cover the refund. I'm guessing individuals will need to have earned 16-20k minimum? As, if these students received all their PAYG credits back already for that year, then there's not really much left to take a refund from. Some students could manage this, such as myself - but I know that a lot haven't made anywhere near that.

I could be wrong, though.

 

[Trevor_S]

Re: So... insulation handout

Why can't the nation build a massive water pipe from up north to down south?

Do you mean the Bradfield Scheme ?

That aside, I think it would be easier to move the people North... rather then the water south. Look at the night mare involved in trying to set up ANY manufacturing here in Aus eg The way I understand it, temperate climates are going to get hotter and drier and tropical climates will stay about the same temperature (increased cloud cover) and get wetter. It's not only water, you guys aren't set up for the heat (in saying that we have some crappy building practices up here that just mirror southern design

What can I say, I am tired of the fu^(*^&^*&^%()ing rain !!! The Burdekin Dam is once again no doubt dropping about a Sydney Harbour load of water over the spillway EVERY day, and that's just one River up here.

 

[Nyden]

No, all you have to do is be receiving youth allowance: bottom of the link above: http://www.pm.gov.au/media/Release/2009/media_release_0778.cfm

We were discussing students who are not receiving YA. As in, students who only work for money.

 

[white_goodman]

ok can someone tell me if im eligble...

-im a full time student
- i have a casual cadetship earning roughly $500 gross a week
- i also have youth allowance at around $20 a fortnight
- i paid tax in 07/08 and earnt only around 25k

does that mean $1900?

 

[white_crane]

Looks like I might get $950 this time. Hooray! I was ready to go out in protest with Nyden if I didn't get something this time. lol

$4b for insulation - now that is forward thinking! This krudd bloke knows what he's doing


Off topic: anyone else notice the ad for a Porsche Boxster in the top right of The Age article? Seems ironic.

 

[Glen48]

If Rudd and Co want to save $$ on Energy they need to look at House designs and get rid of Black Roof's, Block walls and Houses that need A/C so the victims can survive.

 

[Nyden]

ok can someone tell me if im eligble...

-im a full time student
- i have a casual cadetship earning roughly $500 gross a week
- i also have youth allowance at around $20 a fortnight

does that mean $1900?

So long as you paid tax in excess to cover the refund, I'd say so. I could be wrong though!

 

[Nyden]

Looks like I might get $950 this time. Hooray! I was ready to go out in protest with Nyden if I didn't get something this time. lol

$4b for insulation - now that is forward thinking! This krudd bloke knows what he's doing


Off topic: anyone else notice the ad for a Porsche Boxster in the top right of The Age article? Seems ironic.

Let us do a jig, and be merry instead!

 

[Prospector]

So long as you paid tax in excess to cover the refund, I'd say so. I could be wrong though!

OK, what exactly does that mean? That you have to have paid at least $950 tax last year?

 

[white_goodman]

So long as you paid tax in excess to cover the refund, I'd say so. I could be wrong though!

what do you mean tax in excess? i paid tax in 07/08 of around $1100...

also i think i might snap up my parents one as they pay themselves a wage under 100,000 from their own company...

looks like ive got some investment dollars