Federal Government Stimulus Package
It has been a very challenging time for us all over the last few months in respect of the economy and the world financial system, as part of the Governments plan to help lessen the impact of the current financial crisis that we are facing they have recently introduced a number of packages to assist people through this time, we have detailed below a number of items that may be relevant to your personal situation, if you have any queries or would like to discuss further your eligibility for any of these items or to discuss what we can do to assist with you meeting the eligibility requirements of these packages please do not hesitate to contact our office to schedule a meeting.
Cash bonuses for Working Australians
| Taxable Income | Rebate Payable |
| > $80,000 | $950[1] |
| $80,000 – $90,000 | $650[2] |
| $90,000 – $100,000 | $300[3] |
| < $100,000 | $0 |
This amount is due to be paid by the Australian Taxation Office in April 2009 In addition to the above payment there are a number of other payments that are available if you are receiving benefits from Centrelink
| Centrelink benefit | Bonus Payable |
| Family Tax Benefit Part A | $950 per school child aged 4-18 on the 3rd of February |
| Family Tax Benefit Part B | $950 |
These payments are due to be made in mid March, 2009.
Small Business and General Tax Break As part of the governments stimulus package the government are allowing an additional deduction for eligible assets purchased by a business that are installed for use before 31 December 2010, this deduction is in addition to the normal depreciation claim that is available on the asset
| Business Turnover | Asset Cost | Purchase Date prior to | Ready for Use prior to | Deduction Available |
| > $2,000,000 | < $1,000 | 30 June 2009 | 30 June 2009 | 30% |
| > $2,000,000 | < $1,000 | 31 December 2009 | 31 December 2010 | 10% |
| < $2,000,000 | < $10,000 | 30 June 2009 | 30 June 2009 | 30% |
| < $2,000,000 | < $10,000 | 31 December 2009 | 31 December 2010 | 10% |