Frugal Village Forums banner
1 - 10 of 10 Posts

·
Registered
Joined
·
604 Posts
Discussion Starter · #1 ·
are you getting a cash bonus and if so what are you planning to do with it?

I do'nt know quite how I feel about these bonuses - I'm not sure that finanially they are a good idea, I am certainly happy to see spending on schools and infrastructure.

Having said all that - My DSO and I will both be getting a bonus of $950 each so I am certainly happy to get one (and I didn't expect it as we have no kids and so as such aren't a "working family"

Mine will go straight into the bank to add to our get married and buy a house fund.
 

·
Registered
Joined
·
604 Posts
Discussion Starter · #4 · (Edited)
Hi Brenda, the Australian Government has just announced a stimulus package to help our economy in a bid to stop us from falling into a recession.

The package includes a lot of money going towards schools and building projects and also has cash bonuses for low to middle income earners (up to 100k) of $950 and also back to school bonuses for low to middle income earners with kids as a "back to school bonus" $950 for each child of school age if you meet the criterea.

DSO and I will both get $950 so that will be great to help us with our house down payment!

Not sure that I condone these sorts of payments but since I am getting one - I will go with the flow.
 
  • Like
Reactions: brenda67

·
Registered
Joined
·
15 Posts
I know we'll be getting one lot, and that will be going towards out wedding money, but not sure if we'll get one for back to school, as our daughter doesnt turn 4 until late march, before the payments are given. So will have to wait and see, but that will get her a few pressies for her birthday and the rest put away.
 

·
Registered
Joined
·
604 Posts
Discussion Starter · #6 ·
Yes, the details are a bit shady, apparenty centrelink has some good information on it's website and the ATO does as well.

I am also studying so did think that I might score the student bonus as well but not this time, it is only for people who are on assistance such as austudy etc.
 

·
Registered
Joined
·
3 Posts
I have no idea if I'm getting a bonus (I don't think so though), but I'm pretty sure the package included tax breaks for small business? If so, that's good news for me. :)

Then again, anything that makes the economy better is fine by me, even if it doesn't directly put money in my pocket.
 

·
Registered
Joined
·
604 Posts
Discussion Starter · #8 ·
I believe that there are some tax consessions for small business to buy assets with? I'm not in small business so I didn't pay too much attention to that stuff, but the thought is that extra money in the economy would be spent by consumers.

I think that the jury is still out as to if this will be the case though, I know that we will be saving ours to spend later on down the track but others might not be so conservative, plus there will be a lot of people who get far more then I will. If I were to get $5,000 I may be more apt to spend part of it (probably not though)
 
1 - 10 of 10 Posts
This is an older thread, you may not receive a response, and could be reviving an old thread. Please consider creating a new thread.
Top