Government grant to make life easier

Submitted: Saturday, Apr 25, 2009 at 17:27
ThreadID: 68204 Views:3840 Replies:17 FollowUps:50
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Has anyone received their $900 Government grant yet? My gift must be coming via slow Camel train through Somalia....!

At first I was going to donate it to a couple of charities, then thought I’ve done my fair share in the charity area and decided to use it to buy a frig.

This morning we watched the Anzac march, which put the guilt’s up me. So $350 is going to charity and the balance to half a bush frig.

So if you come across an old fella in the bush, cussing about his half frig, you’ll know who it is. LOL

PS It's bleep down here at the moment.

Regards

Kim
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Reply By: Sir Kev & Darkie - Saturday, Apr 25, 2009 at 17:33

Saturday, Apr 25, 2009 at 17:33
Kim,

I am still waiting for the first one, they reckon it was something to do with me doing my Tax through an accountant??

We finally got the $900 for a school aged child last week when everyone else got it over a month ago.

My grant will be going towards the slide on canopy for Darkie.

Cheers Kev
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Reply By: Member - Nick (TAS) - Saturday, Apr 25, 2009 at 17:33

Saturday, Apr 25, 2009 at 17:33
Mine must be on the same camel.......
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Follow Up By: Sir Kev & Darkie - Saturday, Apr 25, 2009 at 17:34

Saturday, Apr 25, 2009 at 17:34
There must be a long line of camels


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Follow Up By: stumbly - Saturday, Apr 25, 2009 at 17:48

Saturday, Apr 25, 2009 at 17:48
slow boat to tassie?
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Follow Up By: Member - Mark G Gulmarrad - Saturday, Apr 25, 2009 at 22:06

Saturday, Apr 25, 2009 at 22:06
guys

apparently they are mailing out those cheques by random post codes...dunno how it is worked though?
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Reply By: Member - Graham H (QLD) - Saturday, Apr 25, 2009 at 17:47

Saturday, Apr 25, 2009 at 17:47
Seems they may be doing it by postcodes.
Hoping for mine soon as my son at postcode 4070 in Brisbane got his and my code is 45** so am waiting patiently.







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Follow Up By: dact - Saturday, Apr 25, 2009 at 17:57

Saturday, Apr 25, 2009 at 17:57
friend of ours in next suburb got his on friday, maybe that means us next ....fingers crossed.

Would love to donate mine, but donated quite a bit to bushfire appeal, so this will be for our home charity.

Cheers
Terry and Amanda
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Reply By: stumbly - Saturday, Apr 25, 2009 at 17:50

Saturday, Apr 25, 2009 at 17:50
enjoy it while you can, krudd's gunna have to pay it all back some how.
Any one want to give odds on a gst rise next year?
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Follow Up By: Kurd - Saturday, Apr 25, 2009 at 20:57

Saturday, Apr 25, 2009 at 20:57
For the GST to be increased the States and Territories have to agree. A GST raise wouldn't do Rudd any good anyway because GST monies are given to the States/Territories. It's not a source of revenue for the Commonwealth.
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Follow Up By: Michael ( Moss Vale NSW) - Saturday, Apr 25, 2009 at 21:11

Saturday, Apr 25, 2009 at 21:11
The GST wont rise, the states get every cent of thet GST , so the states would be happy but there would be no extra money to fill the enormous hole in the federal side that those current bumbling fools are creating.. Rudd wouldnt care, he is very wealthy anyway, our richest PM ever i believe!! Michael


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Reply By: Member - Fred G NSW - Saturday, Apr 25, 2009 at 17:52

Saturday, Apr 25, 2009 at 17:52
Kim, ya poor old bugga, don't forget there's a free bush camp you can use north of Coona' in the Pilliga mate. Mind you, in June/July, ya won't really need much of a fridge up there, just a good bloody swag.

Fred.

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Follow Up By: Kim and Damn Dog - Saturday, Apr 25, 2009 at 18:56

Saturday, Apr 25, 2009 at 18:56
Gidday Fred

Hope everything is going well for you and the family.

You’re the first on my list for a visit on my way up north. The mate wants to see your layabout also, but he’s having a few problems with the missus at the moment.

I’ll give you a call as soon as the camper trailer arrives.

PS The trailer can only carry 190l of chardy, so it's going to be a quiet night. LOL

Regards

Kim
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Reply By: Member - barry F (NSW) - Saturday, Apr 25, 2009 at 18:09

Saturday, Apr 25, 2009 at 18:09
You lot should join us old age pensioners, Mr Krudd gave us ours a bit before Christmas & it went towards a beaut new table & chairs for our outdoor living area. Mind you, I agree that we will pay it back big time & it will probably be by the above mentioned GST
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Reply By: Hairy (NT) - Saturday, Apr 25, 2009 at 18:21

Saturday, Apr 25, 2009 at 18:21
Gday Kim,
Havent seen mine yet either! Hope they bloody hurry up....Ive already spent mine!!!!!!!!!

Cheers
AnswerID: 361507

Follow Up By: Kim and Damn Dog - Saturday, Apr 25, 2009 at 19:21

Saturday, Apr 25, 2009 at 19:21
How about telling us what your up to.

Gadget this, gadget that. Wiring diagrams etc.

Express your self young fella.

LOL

Regards

Kim
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Reply By: _gmd_pps - Saturday, Apr 25, 2009 at 18:26

Saturday, Apr 25, 2009 at 18:26
Throwing around money just shows how little idea this government has to run an economy. What a nonsense !
The only real stimulus is workplace security and confidence in the future. Both is not achieved with throwing around money. The share market is climbing since early March and 2009 will be one of the major growth years as far as shares are concerned. The real economy will keep suffering as long as the media spreads that doom and gloom and the politicians try to cover their a..es by talking down the possibilities not to be measured against promises they could not materialise. 7.8% unemployment is being talked up to almost being a depression from people who have no idea what it really means. Other industrialised countries live with 8% since a long time. Australians just have lost touched with reality and most businesses have no idea how to budget for market lows and just go the easy way to lay off staff. No social responsibility within the business community is not fixed by throwing around money. The cubs have been plenty in this country not having enough brain to keep money on the side for the bad times but spending it on cars, boats etc. and now they are without job .. because the dumb ones go first.
Hope your grant makes you happy.
have fun
gmd

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Follow Up By: Horacehighroller - Saturday, Apr 25, 2009 at 22:27

Saturday, Apr 25, 2009 at 22:27
"The only real stimulus is workplace security"

You're right gmd.

Unfortunately we need to increase GST to cover the state governments loss of income when they cancel payroll tax and stamp duty and other taxes and penalties on business.

Only then will our Australian businesses truly be on a "level playing field"

Unfortunately there are only two chances KRudd organizing that - so bring on the recession.

Peter
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Follow Up By: Richard Kovac - Monday, Apr 27, 2009 at 20:51

Monday, Apr 27, 2009 at 20:51
gmd

This may enlighten you.

Economic Stimulus website

Cheers

Richard
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Follow Up By: Richard Kovac - Monday, Apr 27, 2009 at 20:53

Monday, Apr 27, 2009 at 20:53
Progress report on the Stimulus package

Media Statement - 26th April 2009

"When the stimulus package gets up to full steam in about 12 months there will be around 35,000 individual construction projects around the country including the largest school modernisation program ever - keeping contractors, tradies, truck drivers and small business working."

ALP
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Reply By: Member - Barnray (NSW) - Saturday, Apr 25, 2009 at 19:10

Saturday, Apr 25, 2009 at 19:10
I queried my Accountant about not receiving a bonus and was told that I had to pay tax and not receive a refund on what I had paid. The catches to the bonus. Barnray
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Follow Up By: Member - John (Vic) - Saturday, Apr 25, 2009 at 19:19

Saturday, Apr 25, 2009 at 19:19
If you earned less than $100K and have filed your 2008 tax return by the end of June 2009 you will get the cheque at some stage.

To the best of my knowledge its not offset against any liability you may owe the tax office.
One of the only occasions that a payment from the Fed Government is not offset against any other liability.

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Follow Up By: Member - Barnray (NSW) - Saturday, Apr 25, 2009 at 19:44

Saturday, Apr 25, 2009 at 19:44
My Accountant is also my Brother who has been at it for about 30yrs so I think that I will take his advise. B
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Follow Up By: jeepthing - Saturday, Apr 25, 2009 at 19:52

Saturday, Apr 25, 2009 at 19:52
I thought it was as simple as that too John but it's not. The key is that you have to be an eligible tax payer, that is you receive a "taxable" income.

Generally if you're not retired and earn more than the taxable income and less than $100k lodge a tax return etc you'll get it

But as I found out if you are a self funded retiree and receive an allocated pension from your super fund you are not eligible because there are already tax reductions. If you are 60+ you don't any tax.

If you are under 60 there is reduced taxation.

The allocated pension is based on a minimum and maximum amount that you can draw and it depends on how much super you have. So if you're under 60 the tax on an allocated pension is based on a formula because some of the pension is your original capital plus some capital appreciation and it's only the appreciation that can be taxed.

It's how they work out the appreciation that get's complicated and it's a formula based on your current age and life expectancy, the capital and number of years from current age to life expectancy.

Unfortunately the government hasn't made that clear in their press releases those releases make it sound like everyone who lodges a tax return will get it that's is not the case
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Follow Up By: Member - John (Vic) - Saturday, Apr 25, 2009 at 20:05

Saturday, Apr 25, 2009 at 20:05
Barnray here are a couple of links that may help you.
I would also point out that you are NOT obtaining a refund as you state above, This is a Tax Bonus a different animal altogether.

Eligibility

Tax Bonus FAQ

From the above link..

Q13: Will the tax bonus payment be used to pay off my tax debt?

No. Your payment will not be used to offset any of your other tax debts.


Correct jeepthing, You must pay tax and be within the prescribed earning limits to be eligible.
Have a look at the above links and a few others associated with the links for further info.



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Follow Up By: Member - Barnray (NSW) - Saturday, Apr 25, 2009 at 20:34

Saturday, Apr 25, 2009 at 20:34
I think this statement say's it all.Barnray
"your adjusted tax liability for 2007-08 is greater than zero (that is, you paid tax)"
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Follow Up By: Member - Barnray (NSW) - Saturday, Apr 25, 2009 at 20:39

Saturday, Apr 25, 2009 at 20:39
My first reply should have said "and Received a refund""
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Follow Up By: toyocrusa - Saturday, Apr 25, 2009 at 20:46

Saturday, Apr 25, 2009 at 20:46
Hi Barnray. If you had tax withheld from your wages for the 07/08 financial year (ei, you paid tax) but your refund was equal to or more than what you paid in tax then you are not eligable to receive the $900 bonus. This is one condition I know of. Regards,Bob.
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Follow Up By: Kurd - Saturday, Apr 25, 2009 at 21:49

Saturday, Apr 25, 2009 at 21:49
Barnaray,
Here's a simplified statement about eligibility directly from the ATO site:

"Am I eligible?
Whether you are eligible and how much you receive will be
based on your individual 2007–08 tax return. You are eligible
to receive the payment if:
- your 2007–08 taxable income was not more than $100,000
- your adjusted tax liability for 2007–08 is greater than zero
(that is, you paid tax)
- you lodge your 2007–08 income tax return by 30 June 2009
or by a deferred lodgement date that we granted to you
before 18 February 2009, and
- you were an Australian resident for tax purposes during the 2007-08 tax year."

That's pretty straight forward. Earn money. Pay Tax. Lodge return. Receive refund. get bonus. Thanks Kevin.
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Reply By: Member - Peter D M - Saturday, Apr 25, 2009 at 19:24

Saturday, Apr 25, 2009 at 19:24
hi kim,
my wife received her money by direct debit into her account on thursday, she does her own tax and has her deails with the tax office. i run my business through my accountant and the cheque will go to him before forwarding.
cheers peter
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Reply By: Bob of KAOS - Saturday, Apr 25, 2009 at 20:52

Saturday, Apr 25, 2009 at 20:52
I'd just like to go on record as saying that throwing money out like this is one of the worst bits of policy ever foisted on Australia.

What a waste.

Sure, nice to get a gift of $900 if you do. But where did it come from?

Certainly not the rich who manage to avoid paying tax.

Stimulus my arse.

Whoever thought of this idea will eventually be brought down by their own stupidity. Sadly it took the Yanks two terms to realise they'd elected a mongrel. How long will it take us?

Bob


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Follow Up By: Maîneÿ . . .- Saturday, Apr 25, 2009 at 21:21

Saturday, Apr 25, 2009 at 21:21
Bob,
I'm in total agreement with you on that too
Considering most will be spent on imported product, the financial benefits will go overseas, not help out Australian business to the degree it will benefit foreign companies.
Mainey . . .
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Follow Up By: Member - John (Vic) - Saturday, Apr 25, 2009 at 21:28

Saturday, Apr 25, 2009 at 21:28
Agreed Bob.

I keep asking, Who did vote for them??
Everyone seems to be ducking for cover when that question is asked.
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Follow Up By: Member - Matt H (SA) - Saturday, Apr 25, 2009 at 21:35

Saturday, Apr 25, 2009 at 21:35
Bob,

Short answer is ONE.

Labour will not last past the next election.

The questions will be; how much debt he leaves behind for our offspring to pay off, and; is a $900 hand out really worth the grief it will cause us in the long term?

And I wont even mention my views on "asylum seekers" who all of a sudden think Oz is an easy target!

Short term gratification will cost Australia dearly!

LABOUR = SOFT!

Matt
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Follow Up By: Maîneÿ . . .- Saturday, Apr 25, 2009 at 21:42

Saturday, Apr 25, 2009 at 21:42
Matt,
Australia IS an easy target, a very easy target!

we have no jobs available for these people, who are generally uneducated by our standards, who won't get in line like the rest of the people who wish to move to Australia to live.

We should do what our near neighbours do ...

Mainey . . .
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Follow Up By: Member - Matt H (SA) - Saturday, Apr 25, 2009 at 22:18

Saturday, Apr 25, 2009 at 22:18
Mainey,

I'm hearing you brother!

Aside from the fact I work in an "industry" that IS directly affected by these people's actions, Australian taxpayers (including me), CANNOT afford to give an extra 115,000 people a year welfare assistance!

Pure and Simple.

Rudd has to "batten down the hatches" and send a strong message to all and sundry, saying; you are not welcome, unless you apply through the normal channels and ABIDE BY AUSTRALIAN LAWS! Even then I'm loathed to accept more.

Wonder how many of them have received a "bonus" of the last few months.....................................

And NO, I definitely did not vote Labour - and never will!

Grouchy Matt
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Follow Up By: Richard Kovac - Sunday, Apr 26, 2009 at 01:23

Sunday, Apr 26, 2009 at 01:23
Come on Member - John (Vic)
""I keep asking, Who did vote for them??""

You alway forget ME not just a voter but a paid up member of the Australian Labor Party...

Darn I forgot what the post was about.. some white fella complaining about a hand out from the Government???

LOL

Richard
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Follow Up By: Best Off Road - Sunday, Apr 26, 2009 at 07:05

Sunday, Apr 26, 2009 at 07:05
""I keep asking, Who did vote for them??""

The answer to that is simple. The majority of Australians, this led to the ALP winning a majority of seats and then being able to form Government. It's called democracy.

And I also voted for them. It's my democratic right to vote for whomever I like.

Jim.

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Follow Up By: Kurd - Sunday, Apr 26, 2009 at 08:29

Sunday, Apr 26, 2009 at 08:29
Yes, I was another of the majority of Australians in this democracy who voted for them.

Having an annual Anzac Day reminds us of the effort Australians have gone to over the generations to let us put a pencil mark against our particular choice of candidate on the ballot paper.
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Follow Up By: Member - John (Vic) - Sunday, Apr 26, 2009 at 10:30

Sunday, Apr 26, 2009 at 10:30
Democracy Eh!!
Never heard of it.

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Follow Up By: Gone Bush (WA) - Sunday, Apr 26, 2009 at 12:00

Sunday, Apr 26, 2009 at 12:00
Richard, why do you introduce racism into an economics discussion?

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Follow Up By: Richard Kovac - Sunday, Apr 26, 2009 at 13:53

Sunday, Apr 26, 2009 at 13:53
GB see the LOL, in fourm land that means Im joking.

Cheers

Richard The red under the bed.. LOL..LOL
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Follow Up By: Richard Kovac - Sunday, Apr 26, 2009 at 13:55

Sunday, Apr 26, 2009 at 13:55
Forum
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Follow Up By: Member - Craig Y (NSW) - Sunday, Apr 26, 2009 at 15:10

Sunday, Apr 26, 2009 at 15:10
Bob, the rich dont avoid paying tax at all. They get slugged at every corner. they can simply affrord to absorb it better...but it doesnt make it right.

Only through risk and investment do they receive tax credits. Everyone is entitled to the same thing, the wealthy just do more of it from what I have seen. Negative gearing, capital investment to take advantage of Government initiatives etc.

Most of us dont have the opportunity to take advantage of these sorts of things but if you look at the amount of money that has been thrown at people that havnt worked a day in their lives, it is very frustrating.

Do a calculation on the social security paid to a non working single parent of three. Take into account the free health care, subsidies on medicine etc and you will see that they earn the equivalent of over $60K per annum. I find that disturbing.

They even get virtually free child care - for what? As a single working dad of 2 kids I was paying $500 per fortnight in child care for one child.

and here we have Kevin 07 throwing our cash out the door. I dont have an issue with wealth distribution to a degree, but it is unfair to then have the working class pay it back later...which is what will happen. The Labour Government has always attacked the perceived wealthy (Those earning over $90K per annum) and used terms like millionaires etc to describe people that they want to isolate from the masses for tax purposes.

The land tax was a perfect example> They said you had to pay an additional tax on your land if it was valued over $1M. Totally corrupt! When you had people with a house in a good suburb for over 60 years...retired...and suddenly you have to pay a significant amount of money each year for what? The Government referred to these people as millionaires. Hardly the case UNLESS the property was sold.

What the Government didnt tell people is the rate of inflation is significantly less than the average rate of property value increases so you end up with a situation where more people get sucked into the hole. Its just wrong.

I normally dont argue politics at all...but I am sitting here thinking of what is around the corner and seeing a wasteful government throwing $ around like it grows on trees and I wonder what it will mean to us all in 3 to 5 years. As an employer, it drives me nuts paying payroll tax when that money could go towards more staff.

Yours getting off his soapbox now...

Craig

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Reply By: Gone Bush (WA) - Sunday, Apr 26, 2009 at 00:41

Sunday, Apr 26, 2009 at 00:41
All these handouts by the Govt, both to individuals and companies, both here and in the US, is beyond my comprehension.

The root cause of all of the world's current economic woes is that people, individuals and companies, were spending beyond their means. They were borrowing to buy what they wanted NOW instead of saving up like our Mums and Dads did before they bought.

Excessive debt was/is the cause.

Our Federal Govt is now in debt to the tune of hundreds of billions of dollars. How can they expect to get the country out of trouble when they are doing, on a grand scale, what got the country INTO trouble in the first place.

Difficult not to sound political here but it took the Libs 10 years to pay back the previous Labor govts billions of dollars of debt but this govt has already got the country into debt a by a huge amount more.

Who is going to pay it back?

Your children and your grand children. That's who.

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Follow Up By: Richard Kovac - Sunday, Apr 26, 2009 at 01:33

Sunday, Apr 26, 2009 at 01:33
GB maybe the Lib's spent to much time paying back debt and not looking after the state of the country? I'm sure you are smarter than to believe the Labor party caused all this.

Richard
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Follow Up By: Member - John (Vic) - Sunday, Apr 26, 2009 at 10:28

Sunday, Apr 26, 2009 at 10:28
Richard paying back debt to save the interest cost is looking after the state of the country.
It actually allows you to spend that saved interest cost on useless things like health and defence and maybe increase the odd aged pension.

Anytime you have massive interest costs on debt run up with nothing tangible to show for it is always bad news.

Its how Labour is managing this issue that is being questioned here.
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Follow Up By: Gone Bush (WA) - Sunday, Apr 26, 2009 at 12:27

Sunday, Apr 26, 2009 at 12:27
Richard there's no way that you or anyone else can read "Labor caused this" in my post above. Not even an implication of that.

What I said was that they are trying to cure the disease by applying the CAUSE.

It does not make sense.

You should be smarter and not read words that aren't there, but I guess you and your Komrade mates are starting to feel a bit defensive and guilty that you voted this lot onto us.

I hope that, in 20 years time, when the second generation from now is still paying off this debt that you will stand up and say, Sorry. it was my fault. I voted for them.

Maybe you should start pushing for a National Sorry Day.

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Follow Up By: Richard Kovac - Sunday, Apr 26, 2009 at 14:21

Sunday, Apr 26, 2009 at 14:21
comrade GB Hi.

Maybe this part. "Difficult not to sound political here but it took the Libs 10 years to pay back the previous Labor govts billions of dollars of debt but this govt has already got the country into debt a by a huge amount more."

Debt is not a bad thing, nealy everyone I know has some, Rich and Poor.

This Government and the Australian people have already had a National Sorry Day. No need for another.

I have no fear of telling people that I am a socialist and will vote for the Party representing these values. Thank You

Cheers

Richard
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Follow Up By: Richard Kovac - Sunday, Apr 26, 2009 at 14:22

Sunday, Apr 26, 2009 at 14:22
comrade GB Hi.

Maybe this part. "Difficult not to sound political here but it took the Libs 10 years to pay back the previous Labor govts billions of dollars of debt but this govt has already got the country into debt a by a huge amount more."

Debt is not a bad thing, nealy everyone I know has some, Rich and Poor.

This Government and the Australian people have already had a National Sorry Day. No need for another.

I have no fear of telling people that I am a socialist and will vote for the Party representing these values. Thank You

Cheers

Richard
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Follow Up By: Richard Kovac - Sunday, Apr 26, 2009 at 14:25

Sunday, Apr 26, 2009 at 14:25
Whoops
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Reply By: didiaust - Sunday, Apr 26, 2009 at 05:31

Sunday, Apr 26, 2009 at 05:31
I haven't received mine yet - but I have spent it.

Paid for 2 courses and 1 for the daughter-in-law. Money stays in Oz - gives a few more people work and me the satisfaction at the end of it to know I might be able to thread the new sewing machine or marry a few people when they ask me. I'm taking a sewing course and a marriage celebrants course. Anyone want to get hitched at St George?. I might be legal by then.

Thanks Kevin Dudd



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Follow Up By: Gone Bush (WA) - Sunday, Apr 26, 2009 at 11:59

Sunday, Apr 26, 2009 at 11:59
Yeah,

I suggest that Jim and Richard could tie the knot.

They are made for each other.

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Follow Up By: Richard Kovac - Sunday, Apr 26, 2009 at 13:58

Sunday, Apr 26, 2009 at 13:58
Ha Ha GB you're a funny man,,, LOL
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Follow Up By: Best Off Road - Tuesday, Apr 28, 2009 at 21:10

Tuesday, Apr 28, 2009 at 21:10
Juvenile slur.

Should we expect anything better?





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Reply By: Member - Lionel A (WA) - Sunday, Apr 26, 2009 at 06:09

Sunday, Apr 26, 2009 at 06:09
Got my cheque here in front of me.

Would love an Engel.
Would kill for a Warn.
Would die for a Codan.
Would beg for Coopers.
Would sell my soul for Lokkas.

ATO keeps sending me reminders for arrears.
Telstra thinks I owe them a kings ransom for calls to some country Ive never heard of, let alone phoned.
A bottle of Johnnie Walker is $8.00 more than it was a year ago.
A pkt of cigs at $18.00 because some clown wants me to quit, but I can walk into any supermarket and buy enough sugar based products to kill me in no time at all.

Worst of all, the missus has spotted the cheque and all of a sudden, her and her battle axe mother, need to go to K-mart.

More trouble than its worth....lol.

Cheers.....Lionel.
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Reply By: Best Off Road - Sunday, Apr 26, 2009 at 07:12

Sunday, Apr 26, 2009 at 07:12
Kim,

Not really sure how it works but can tell you this.

The GLW and son got a letter saying it was being put into their bank accounts and it was within three days. My letter was dated 4 days later and two weeks on I haven't seen it.

Cheers,

Jim.



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Reply By: Stu-k - Sunday, Apr 26, 2009 at 07:39

Sunday, Apr 26, 2009 at 07:39
I just love the topic title....now thats fuuny!!!!!

My payg has already gone up 2k a quarter, they must think Im gunna have a boomer of a year...clowns!

My $900 is going straight back to them in tax, do hope they send me another $1100 and maybe do it quarterly as well.

As my account says there moving deck chairs, their giving you nothing but higher taxes and more of those to come!

That 30% deal they have on new cars is a total joke as well.

But if a little bit of cash in people pockets for 10 minutes(before they take it back and some) makes em feel better thats great!
AnswerID: 361586

Follow Up By: Member - John (Vic) - Sunday, Apr 26, 2009 at 10:22

Sunday, Apr 26, 2009 at 10:22
Stu you could apply to have your PAYG Installments varied down if your unlikely to meet the earning/tax liability position that the estimate is based upon.

Many hundreds of thousands of us small business (and large) are doing just that to help stay afloat.
Speak to you accountant about it or flip the Installment Notice over and read the back.

Cheers
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Follow Up By: Stu-k - Sunday, Apr 26, 2009 at 11:28

Sunday, Apr 26, 2009 at 11:28
Hey John,
Yeah I did think about that but what worries me is if they put up the tax rate or something before end of year, to cover their wasteful spending. Then i would really be stuffed.
Maybe its better to struggle now and get it back later, I dunno mate uncertain times.
Would have been better if they just lowered the tax rate for incentive for small business to cut prices and work harder. Now like most i wont cut prices cause i cant afford to!

What do you think about the gov deal with banks....If you lose your job they freeze your repayments for up to 12 months. What happens to us(small business) if we don't have enough money to pay the home loan? Tough luck I guess.

Cya
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Follow Up By: Member - John (Vic) - Sunday, Apr 26, 2009 at 12:11

Sunday, Apr 26, 2009 at 12:11
I don't think they will put up the tax rate at the company level anytime soon, too much pressure there already to try and maintain viable small business as we are the largest overall employer.

Its your choice but why struggle if you can relieve some pressure, you don't have to amend it to zero, be realistic (If you under estimate they will fine you also) but if you genuinely know that you won't have the same level of liabilities the money is better in your pocket, especially as it possible you are funding the installments from overdraft facilities.
Seek some advise, talk to your accountant and revise your installments accordingly.

I think the deal with the banks is a good one, anything that keeps people in their homes can only be good.
The last thing we need is more pressure than whats occurring in the home loan default area now.

For sure small business always get the raw end of the policy deal, our problem is we are so fragmented that its already a question of us being divided so we are easy to conquer and we also have the shallowest pockets to fight negative decisions by departments like the ATO etc.
In other words we bend over and take it everytime.

Cheers and good luck.




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Follow Up By: Stu-k - Sunday, Apr 26, 2009 at 21:36

Sunday, Apr 26, 2009 at 21:36
I was unaware of the fine part for under estimating. Sometimes i think it maybe easier to just sack my employees and go work for someone.

Thanks for that John it didn't help but i know a little more ;)


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Follow Up By: Member - John (Vic) - Monday, Apr 27, 2009 at 10:19

Monday, Apr 27, 2009 at 10:19
Stu actually I should have been a little clearer, its not a fine as such but they may charge you penalty interest at the current prescribed rate if you reduce your PAYG installments down more then I thinks its 15 or 20 percent below the final tax liability??

Again check it out with your accountant but Kevin won't be bailing you and me out as small business if we hit the wall so protect your cash and don't give them anymore than what you need to until you actually have to.

Cheers




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Reply By: Member - DAZA (QLD) - Sunday, Apr 26, 2009 at 08:28

Sunday, Apr 26, 2009 at 08:28
Yeh we wont get it because we work to bloody hard, and earn well over the cut off limit, but if we are a couple of days over paying our quarterly BAS/GST through our business, the Tax Office fall on us like a ton of bricks, as I told the Cook, from the Cradle to our Grave we have paid our way all through life and never ever had a hand out, and we feel great about it, and I dont vote for any of the Clowns, I just get my name ticked of the roll on vote day, and I still reckon Australia is going to Hell in a Hand Basket. but for us Lifes Good.
AnswerID: 361592

Follow Up By: Richard Kovac - Sunday, Apr 26, 2009 at 15:48

Sunday, Apr 26, 2009 at 15:48
Daza.. LOL

When did "we work to bloody hard" equate = earning to much money, there are many a poor person who will and has worked hard all there lifes with little reward.

If I was you I would be glad I was so well off.

ps. I'm not far behind you in not getting the payment, but I'm OK

Cheers

Richard Kovac

Please do not take this the wrong way...
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Follow Up By: Member - DAZA (QLD) - Sunday, Apr 26, 2009 at 16:20

Sunday, Apr 26, 2009 at 16:20
G/Day Richard

I'm not knocking any Aussie workers, I realise the plight of the average battler, I'm peed off with the Govt, dosen't matter who is in power, I'm just cranky how they treat small business, they are allways getting their clutches into us, and really don't give a stuff about the effort one makes, especially when we employ people and the demands they make on you, re all the rules and regulations ect, small business is the Backbone of the nation and all they seem to worry about is Multi National Companies, as I said before I'm all for the Aussie Battler, and I'm happy for what they can get,
PS, I'm not that well off lol lol.
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Follow Up By: Member - Craig Y (NSW) - Sunday, Apr 26, 2009 at 21:24

Sunday, Apr 26, 2009 at 21:24
I am sick of being expected to feel guilty because I, like many others, do OK. I have several companies but am hardly rolling in it. I dont own a yacht and live in the Western suburbs of Sydney near Penrith.

It is not always about hard work..my staff work as hard as I do often, but it is about risk. Staff turn up to work, they get paid. Doesnt work the same for most employers. We have more fine bearing legislation to work with than virtually any other country in the world as company directors.

Often your home is tied into the risk as well, so if business collapses you are up to your neck in it. Staff on the other hand walk away upset for a bit, usually with a redundancy package (How is that reasonable if a company folds?) and you end up holding the bag as a director.

And...we cop it in the neck from the Government at every turn.

Many a day you wonder why you bother...but then again, I, like many others, have good staff that make it worth coming to work each day.

Not complaining actually, just sick to the back teeth with the perception by many that if you own a company you are wealthy. Not often the case.
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Follow Up By: Richard Kovac - Monday, Apr 27, 2009 at 00:57

Monday, Apr 27, 2009 at 00:57
Hi Craig

Don't get me wrong also. I'm senior management, and am very good at making my boss's (owners) money, that is what I'm payed good money to do.

I know it takes guys like you, to allow us to be able to make money, see how the Lib's sold the fence's to pay for the farm, there's no other way to make a living.

Cheers

Richard
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