| The Rudd Government has recently announced that | | | | When and how will I be paid? |
| the much anticipated $42 billion Nation Building and Job | | | | If you have already submitted your 2007-08 tax return, |
| Plan has been successfully passed through both | | | | the first round of payments will commence from early |
| houses of Parliament. And, whilst the passed legislation | | | | April 2009. However, if you are yet to lodge your |
| contains some amendments from the original proposal, | | | | 2007-08 return then your payment may be received |
| the most notable fact is that all proposed tax bonus | | | | at a later date, depending on when your return is |
| payments, whilst slightly reduced, will continue to be | | | | finalised. |
| rolled out from early April this year. | | | | The ATO will send you your payment based on what |
| There are a range of bonuses being supplied to | | | | was your nominated preference in your 2007-08 tax |
| various sections of the community including single | | | | return. So, if you had your refund deposited directly into |
| income families and farmers. The most significant | | | | your bank account then you will receive your payment |
| bonus is being paid to around 8.7 million Australians | | | | in to that account. If you received your refund via a |
| who are low to middle income earning taxpayers. | | | | cheque in the mail for 2007-08 financial year then you |
| How do I know if I am eligible to receive the payment? | | | | will receive a cheque in the mail equal to the value of |
| Provided that you: | | | | the bonus that you are eligible for. |
| * lodge your 2007-08 income tax return before the | | | | What do I need to do to ensure I get my payment? |
| due date (30 June 2009 for most people, or the | | | | If we have prepared your tax return for the 2007-08 |
| deferred date if you have been granted a deferred | | | | financial year the ATO may not necessarily have your |
| date by the ATO before Wednesday 18 February | | | | personal bank account or postal address details. To |
| 2009) | | | | ensure that you receive your bonus payment in the |
| * your taxable income for 2007-08 financial year is | | | | quickest way possible you can contact the ATO and |
| less than $100,000 | | | | provide them with the necessary details for your |
| * your adjusted tax liability for 2007-08 is greater than | | | | preferred payment option for this one-off payment. |
| nil, and | | | | You can only update your bank account details over |
| * you were an Australian resident for tax purposes for | | | | the phone by calling 1300 686 636. Postal addresses |
| the 2007-08 financial yearthen you will be eligible for | | | | can be updated by calling 1300 686 636 or online at |
| the tax bonus payment. | | | | the ATO website. |
| How much will I be paid? | | | | Is there anything else that I need to know? |
| If your taxable income is $80,000 or less for the | | | | The ATO has issued a warning to tax payers to be |
| 2007-08 financial year then you will receive a tax | | | | particularly cautious of bogus email scams at this time. |
| bonus payment of $900. For taxable income amounts | | | | It reiterates that the ATO will never send emails asking |
| above $80,000 but not exceeding $90,000 a tax bonus | | | | you to provide personal information such as bank |
| of $600 will be paid, and if your taxable income | | | | account or credit card details. |
| amount is greater than $90,000 but does not exceed | | | | Remember, you must submit your 2007-08 tax return |
| $100,000 then you will receive a tax bonus payment of | | | | before 30 June 2009 to be eligible to receive the tax |
| $250. | | | | bonus payment. |