Government's stimulus package handout

As part of the Government's $42bn stimulus package the Australian Tax Office said that preparations are underway to make one-off payments to taxpayers from early April.

Michael D'Ascenzo Tax Commissioner said that people won't have to do anything to receive the payment up to $900 for those earning under $100,000 if they have already lodged their 2007-08 tax return.

Mr. D' Ascenzo warned that some people would need to take action. You need to have lodged your 2007-08 tax return or already have an extension of time to lodge in place, you must lodge by June 30, 2009 to receive the bonus. The payment will be deposited into the bank account or address that you have nominated as your preference for the 2007-08 tax return.

Mr. D' Ascenzo also stated that the Australian Tax Office had made special arrangements for the people who have not lodged their tax returns and have been affected by the Victorian bushfires and the north Queensland and NSW floods. People who reside in those areas can lodge their tax returns as late as June 30, 2010 if they haven't already lodged their return. The assistance is available for people who no longer have any, or few records, and the tax office will use information previously supplied to make a reasonable estimate of their assessment.

Mr. D Ascenzo also warned the public about email scams claiming to be from the tax office and confirmed that "The Tax Office" never sends out emails requesting people to provide personal information including bank account or credit card details and that people would never be charged fees by them to receive the payment. He further stated that any emails claiming to be from the tax office should be deleted immediately.

Check our Guide to the 2009 Australian Government Stimulus Package Handouts for more information.

Published on February 2-th, 2009 in Financial Planning
Damon Rasheed is the CEO of Rate Detective, an Australian financial service comparison sites specialising in Life Insurance, Income Protection Insurance and home loans. Damon holds a Master's Degree in Economics from the University of Melbourne and has been involved in many start-up internet businesses.