06 Apr 099 Tax bonus payments begin to roll-out this weekIn a media release issued on 3 April 2009, the ATO has announced that, following the High Court’s decision in Pape v FCT, 7.4 million people who have already lodged their 2007-08 tax return will begin receiving their tax bonus payments from this week. The Commissioner, Michael D’Ascenzo, said if people have lodged their 2007-08 tax return and meet the eligibility criteria they don’t need to do anything else to receive the payment.
In a media release issued on 6 April 2009, the Treasurer, Wayne Swan, said that around 7.5 million Australian taxpayers will start receiving Tax Bonuses which will support businesses and jobs in the face of the most severe global recession experienced in living memory
The Tax Bonus is made up of payments of:
$900 for Australians with taxable income under $80,000 in the 07-08 tax year.
$600 for Australians with taxable income between $80,001 and $90,000 in the 07-08 tax year.
$250 for Australians with taxable income between $90,001 and $100,000 in the 07-08 tax year.
In a broadcast message to tax agents regarding the payments sent 6 April 2009, the ATO advised how the payments will be made and how tax agents will be notified about the payments.
For a copy of the ATO media release, No 2009/25, 3 April 2009, go here.
For a copy of the Treasurer's media release, No 2009/35, 6 April 2009, go here.
For a copy of the ATO broadcast message, go here.
For information as to how to view your your client's tax bonus payment accounts on the portal, go here.