Workers, families to get $950 cash bonus

By Fairfax Media
Updated October 31 2012 - 1:03pm, first published February 3 2009 - 3:13am

SEE RELATED STORY: Are you eligible for the cash bonuses? FOR THE LATEST INFORMATION.CLICK HERE FOR LATEST NEWS . . . WORKERS earning under $100,000 a year will get a cash bonus from the Rudd Government's $42 billion stimulus package announced today.Immediate one-off payments worth $12.7 billion will also go to families with school-age children, farmers, single income families and people undergoing training.The cash bonuses will be paid in March and April.About 8.7 million workers will get a lump sum tax-free bonus, depending on their annual income.Those earning up to $80,000 a year will receive $950, those earning between $80,000 and $90,000 will get $650 and those earning between $90,000 and $100,000 will get a $300 bonus.Single-income families who receive the Family Tax Benefit Part B - about 1.5 million families - will get $950 on March 11. It will only be paid to those who were eligible for Family Tax Benefit Part B on February 3.Those receiving Family Tax Benefit Part A with a child aged between four and 18 years will get a $950 back-to-school bonus.The Government expects that 2.76 million children in 1.5 million families will share $2.6 billion.About $511 million will fund a $950 training and learning bonus for 440,000 students and those returning to study such as those on youth allowance, Austudy and related payments (but not those who get the back-to-school bonus).Farmers will also benefit with a hardship bonus of $950 for those receiving exceptional circumstances related income support in a package worth $20.4 million.Mr Rudd said the spending was aimed at boosting economic activity and jobs and combating the global recession.``There will be no quick fix to this global recession and many of its effects are still to be felt," he said."But the Government is taking the necessary and responsible action to help see Australia through this global crisis."

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