23 Feb 2009

Tax Bonus for Working Australians Bill 2009

by Darren

The House of Representatives have approved the Tax Bonus for Working Australians Bill 2009. The Bill is part of the stimulus package to support jobs and strengthen the Australian economy. The Government will give a tax bonus of up to $900 to Australian workers earning $100,000 or less. The bonus is subject to an income threshold test which determines that a:
  • $900 bonus will be paid to eligible taxpayers with a taxable income of up to and including $80,000;
  • $600 bonus will paid to eligible taxpayers with taxable incomes exceeding $80,000 and up to $90,000; and
  • $250 bonus will be paid to eligible taxpayers with incomes exceeding $90,000 up to and including $100,000.
The taxpayers do not need to apply for the bonus as the Australian tax office will utilize the 2007-2008 income tax returns of individuals to determine the eligibility of the bonus. Payments will be made from April 2009 and will be paid by cheque or electronic funds transfer.

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