Massive roll out of cash may take time
THE Australian Taxation Office is asking Tweed residents to be patient as they begin the roll out of the Rudd government's economic stimulus package to 7.4 million Australians.
Payments will be made this week based on random postcodes either into a nominated bank account or cheque in the mail to the address nominated in 2007-08 tax returns, unless details have been changed since.
The tax bonus payment will be $900 if taxable income is up to and including $80,000; $600 if taxable income is between $80,001 and $90,000 and $250 if taxable income is between $90,001 and $100,000.
The bonus payment is tax free and will not be used to offset any other tax debts.
Those who have not yet launched a 2007-08 tax return have until June 30 to complete it to be eligible, or have been granted a deferred lodgement date by the ATO prior to February 18.
Returns can be lodged online using e-tax until May 31, by mail using TaxPack or through your agent. E-tax will not be available after May 31.
Those who were under 18 years of age at 30 June 2008 are eligible for the tax bonus payment if they were either an excepted person or received excepted assessable income and meet all the other eligibility criteria.
The Australian Taxation Office asks people not to call about the progress of individual payments until after May 16. For more information visit their website, at www.ato.gov.au.