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Government’s Bonus Payments For Families
By Sandy Naidu | December 8, 2008
On 14th October 2008, Government announce a 10 billion dollar package to boost the economy. Families with children, pensioners and carers are the beneficiaries of this package. Over the next two weeks payments will start hitting the bank accounts of the eligible families.
Here is a brief list of who is eligible for this one off Government payment and how much they get:
1. Families: As of October 14th 2008, if you were entitled to receive fortnightly payments for Family Tax Benefit Part A. If you were receiving fortnightly payments then the amount will be credited to your account in the next two weeks. Otherwise you have to claim along with your Family Tax Benefit Part A payments. Now for the interest part - Every eligible family receives $1000 for every child.
2. Carers receive $1000 for each eligible person under their care.
3. People on age pension, disability pension, veterans pension, widow pension receive $1400 if they are single or $1050 for each eligible member of a couple.
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For more details visit family assistance website. |
The payment amounts are quite substantial. The Government has urged the people to go ahead and spend this money. Unless you have been living in a cave, you would have all heard that we are all facing Global financial crisis at the moment. Increasing spending is one way to boost the economy. The retailers are backing the Government and urging people to increase their Christmas shopping budget.
I understand the reasons for increasing spending. But I think everyone who receives this one off payment should spend it wisely. Here are some of my suggestions on what you should and should not use this one off payment on:
1. Put it towards your debt/mortgage.
2. Don’t use it on partying, gambling or drinking..
3. Use a part of it in Christmas shopping and the rest on paying off your debt/mortgage.
4. Save for your first home deposit.
Whatever you do, use it wisely…Let your circumstances dictate what you should spend the money on. Spending is good only if your finances are in control. If they are in a reasonable good shape then my suggestion would be spend a part and save the rest.
I am keen to find out what how you would be using the bonus payment - leave a comment below.
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Topics: Government Payments |
December 22nd, 2008 at 1:08 am
What about us that are on newstart allowance? Does the goverment think that we are rich or something or that we are not struggling like the ppl on pensions? We are struggling more as we get much less evry fortnite. I think that we are being treated unfair and that if the goverment should treat evryone equally. They should give the bonus to evryone that is recieving centrelink payments or dont give anything to anyone at all!
March 11th, 2009 at 1:55 am
I agree i am mighty pissed about this its total bull crap us new start people are doing it really tough and i have been put on newstart because the government failed to protect my job!