The first of the Federal Government’s stimulus bonus payments are being sent this week. Payments will be made in a random order, according to postcodes. In order to receive your bonus, you need to file your 2007-08 tax return before June 30th this year.
Taxpayers earning less than $100,000 will receive a one-off bonus of up to $900, as part of the Federal Government’s $42 billion stimulus package.
The idea is to spend your bonuses to help stimulate the Australian Economy. Keep in mind when purchasing certain products such as electronics, you will most likely not be supporting Australian products, however you are supporting Australian jobs.
Stimulus for Australians
Whilst we are not in any way against stimulating the economy, as a financial company we know all too well the debt problems people can get themselves in with too many finance options available too them such as personal loans, home loans, unpaid defaults, business loans, commercial loans and most commonly credit card debt. For this reason our best suggestion is to take your $900 and place it on any overdue finance. This could help prevent you from having bad credit and debts for the time being.
Alternatively we would suggest starting a savings plan. In today’s uncertain market you never know when you might become jobless, receive a pay cut or need debt relief.