Are you eligible for the stimulus package cash bonuses?

BASS Labor MHR Jodie Campbell has provided the following information on the eligibility and timing of the cash bonus components of the Federal Government's revised $42 billion stimulus package.Ms Campbell said that there are many individual circumstances and people with specific questions can contact her office for any assistance (03) 6334 7033."Obviously there are a number of initiatives and a wide range of people who will benefit. While there will be some instances where personal circumstances may vary, below are the general guidelines by which the payments will be made." A Tax Bonus for Working Australians of up to $900 for eligible taxpayers, depending on income thresholds. This is paid per taxpayer. A couple who each earn up to $100,000 will receive up to $900 each.If you paid tax in the 07/08 financial year, no matter what the amount, and you earn up to $100,000 you will be eligible for the Tax Bonus for Working Australians.Taxpayers will not need to apply for the payment. The Australian Taxation Office will make the payment to taxpayers after determining eligibility for the 2007-08 financial year. How much is the bonus?A $900 bonus will be paid to taxpayers with taxable income up to and including $80,000. A $600 bonus will be paid to taxpayers with income exceeding $80,000 to $90,000. A $250 bonus will be paid to taxpayers with income exceeding $90,000 to and including $100,000.When and how will it be paid?Payments will begin being made from early April 2009 for those who have lodged a 2007-08 tax return. A Back to School Bonus of $950 per child to assist low-and middle-income families eligible for Family Tax Benefit A with school-age children. Families with children of school age who are eligible for Family Tax Benefit-A will receive the Back to School Bonus for each eligible school aged child (aged 4 to 18). How much is the payment?The Back to School Bonus is a one-off lump sum payment of $950 per eligible child.When and how will it be paid?For those who receive Family Tax Benefit-A as a fortnightly payment, Centrelink will pay the $950 bonus from the fortnight commencing 11 March 2009. A small number of eligible families receive Family Tax Benefit-A as a lump sum. For these families, the Back to School Bonus will be paid in 2009-10 or 2010-11, after their 2008-09 tax returns have been processed by the Australian Taxation Office.A Single-Income Family Bonus of $950 to provide additional assistance for families that have one main income earner and may otherwise receive less assistance from the package than dual income families with similar household income. This is additional financial assistance to families who rely on one main income earner. This includes, sole parent families and two-parent families where one parent chooses to stay at home or balance some paid work with caring for children.The Bonus will be a one-off payment of $950 per family to every family entitled to Family Tax Benefit Part B, irrespective of the number of children. When and how will it be paid?The one-off Bonus will be automatically paid by Centrelink in the fortnight commencing 11 March 2009 for families who receive their family assistance as fortnightly instalments, or as soon as practicable thereafter.A Farmer's Hardship Bonus of $950 which will be paid to farmers and others receiving Exceptional Circumstances related income support. This will provide immediate financial support to around 21 farmers across Bass who are most in need and who may not have sufficient taxable income to benefit from the Tax Bonus When and how will it be paid?The payment will be made automatically by Centrelink in the fortnight commencing 24 March 2009.A Training and Learning Bonus of $950 to assist students, those returning to study or training, and some income support recipients.The Training and Learning Bonus consists of two categories: Category 1 The one-off $950 bonus (for 2009 only) for recipients of: Youth Allowance; Austudy; ABSTUDY and other student and related payments. If a student attracts the Government's Back to School Bonus they are not eligible for the one-off $950 Learning and Training Bonus.Category 2 (Applies from 1 January 2009 to 30 June 2010). A temporary supplement to the Education Entry Payment of $950. This is in addition to the existing Education Entry Payment of $208. The Education Entry Payment is currently paid to a range of social security recipients who are commencing study, including Newstart Allowance and Parenting Payment Partnered recipients. How much is the payment and when and how will it be paid?Category 1: The lump-sum bonus is $950. It will be paid to eligible recipients by Centrelink in the fortnight beginning 24 March 2009.Category 2: Those eligible for the supplement through Education Entry Payment will receive $950 on top of the existing Education Entry Payment (currently $208). This means they will receive a total repayment of $1158. Those eligible for the Education Entry Payment bonus will receive it when they receive their Education Entry Payment. If you have already received your Education Entry Payment you will receive the supplement from 24 March 2009. Small Business and General Business Tax Break.The Rudd Government will provide an additional $2.7 billion temporary tax break to small and other businesses to boost business investment.Small businesses will be able to access the tax break for assets costing $1,000 or more. For all other businesses, the asset threshold is $10,000.Who will be assisted?Taxpayers that carry on a business will be able to claim the tax break in the form of a bonus tax deduction.When and how can it be claimed?The allowance will take the form of a tax deduction on top of the usual capital allowance deduction able to be claimed for the asset as part of the taxpayer's income tax return.A minimum expenditure threshold of $10,000 will also apply, except for small business entities which only have to meet a minimum threshold of $1,000.