Handy handout from the government
Prime Minister Kevin Rudd is giving cash away, $10.4 billion in fact to stimulate the economy. The total includes a one-off $1000 payment in December for each child to families with dependent children.
We’ve got four children, so unless I’ve missed something in the fine print we’ll get $4000.
I had to research a little to find the income threshold, in case we missed out on that score.
According to The Australian, the money is for families earning up to $100,800 with one child; $111,000 with two children; and $122,000 with three or more.
We had a one-off high-income year in 2007-08 thanks to capital gains on shares and a company bonus, but we fit under the threshold for three or more children, so I guess we’re included.
I won’t start counting it though until it’s in the bank.
Although I will never complain about a cash windfall, I really question the government’s strategy.
People will most likely spend the money on Christmas presents, home improvements and holidays given the December timing before summer holidays.
Some people will probably spend more than they are given. The $3000 air-conditioning system that was out of reach last week is now affordable if the government gives you $2000.
We’ll pay some bills, pay our holiday (which was already booked), save some and spend the rest.
Tags: economy, government
Bush gave me something in the neighborhood of $1000. I say I used it to help pay for The New Bike — but I was going to get it anyway.
what about the people who are not married it seems we always seemed to be ignored in these handouts,bonuses, etc. this seems to be discrimination against being single by the government good to see one rule for all thanks mr pollie
I agree Josh. If you do the numbers, there are probably more voters among families and pensioners than singles. And young singles predominantly vote Labor anyway.
Can anyone tell me if my wife & i are still eligible for the governments $10.4billion handout?
Our combined income was $124,000 last financial year but my wife is now at home looking after our 5 month old baby, She has not worked since july08 & is due back at work july09.. Are we still eligible ???
Christian, I think you are going to miss out. I believe the cut-off for one child was around $101,000 and it rose to something like $115,000 or thereabouts for three children. Sorry, these figures aren’t exact and a quick web search doesn’t easily reveal them.
I was on edge about our eligibility because we earned some money last financial year from one-off capital gains, but we qualified.
Having missed out on the hand out I feel really depressed watching everyone that got it madly spending. We are really struggling with our 2k a month mortgage and $800 a month in childcare.
So I returned to work 4 days a week in September and my husband took on overtime, so he has to work 6 to 7 days a week to make ends meet. This pushed us over their income bracket. Gee it would have been nice to get the handout and see my husband for a few extra days this Christmas, it should go to all or no one.
I know people that intentionally keep there pay income under 100K so they reap all handouts and rebates.
I feel for you Sharon. We would have missed the threshold for two children and just made it for three or more. For the sake of $1000 in income (on which you would pay over $350 in tax) it must hurt for those people who just miss the cut.
The Rudd government’s handout is an extraordinary waste of our country’s resources and the money could have been spent much more wisely to stimulate the economy.
For example, perhaps the goverment should have considered lowering taxes for low and middle income earners instead. This would have been a more equitable move and would encourage and reward people who actually put in the hard yards to make ends meet (like Sharon McEvoy’s example above).