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Cash payments to eligible taxpayers

Thursday 12 February, 2009

The Government has introduced into the Parliament its $42 billion economic stimulus package, which consists of five groups of one-off cash payments to eligible taxpayers.  The intention of providing these payments is to immediately support jobs and strengthen the Australian economy during a severe global recession.

These five key payments include a:

• Tax Bonus for working Australians of up to $950 paid to every eligible Australian worker earning $100,000 or less.This amount may be reduced to $900 following a parliament debate.

• $950 Single Income Family Bonus to support families with one main income earner.

• $950 Farmer's Hardship Bonus paid to drought affected farmers and farm dependent small business owners receiving exceptional circumstances related income support.

• $950 per child Back to School Bonus to support children from low and middle income families.

• $950 Training and Learning Bonus paid to students and people outside of the workforce returning to study to help with the costs of education and training.

The relevant bills for the above payments are currently under debate in the Parliament. Taxpayers Australia has prepared a detailed summary of the major features of this stimulus package. The summary of the cash payments will be published in issue 15 of The Taxpayer.