Yes, it was very poorly worded and not at all what they implied. People were lead to believe it was like the K Rudd bonus where everyone received the $900 as a gift, into their bank account, to go spend on what you liked. Boost the economy. I think it did boost it for a very short time.
Then we hear of this current one, for low to middle income earners. As there didn't appear to be any fine print at the time, I took it to mean $0 income up to the $126K that they said, would get it. As a gift, like last time. To go forth and spend. Boost the economy.
Mr Tippy was out of work for most of the last financial year (ill health), starting back at work in March. He earned just under the threshold, so is getting all his tax back (great feeling to earn $18,000 tax free!). I'd heard lodging the return triggered the bonus, so I lodged.
I then did my tax and when I clicked to calculate the estimate, the $1080 showed up in the breakdwn. So, despite Mr Tippy being a low income earner for the last financial year, he doesn't get it. That means the ones that could really use it the most, aren't eligible.
I then realised that it's not a gift from the government in that sense. You are merely getting more of your tax back. Still a gift of sorts, but not like they implied. If you owe tax this year, even if you earned say $60,000 where you'd get the full bonus, then you lose part, or all of the bonus.
Therefore, anyone earning under $20,000 misses out entirely. That includes anyone on the dole or pension full time that has no other income. I think it's wrong that the aged pensioners are going to miss out because they could have really used it to pay their winter heating bill. As I said, the ones who really need it the most, miss out.
I know a few people that are on a pension, or some type of benefits, and they were mentally spending the money when it was announced. One person was going to take her kids away for a weekend, being the first time they'd ever have been able to go anywhere for a holiday since the kids were born. Others were going to take the kids to the zoo. All kinds of sensible things they wouldn't normally be able to afford. None would be spending it on grog or smokes because none drink or smoke (I know there would be plenty that would spend it on that though).
So, the ones that would have gone and spent it to boost the economy, aren't getting it. Good one!
I also wasn't aware of the higher and lower end of the bracket only getting a portion. That's insane, especially for the lower end. Glad I'm in the middle of the middle!
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