The cash refund is expected to boost Australia’s sluggish economy in much the same way as the GFC cash stimulus did in 2008.
Here is a summary of who and how much:
Earning up to $37,000 you may get up to $255
Earning between $37,001 and $47,999, you may receive between $255 and $1,080
Earning between $48,000 and $90,000, you may be set to get the full $1,080, and for dual income families on this level of income, you may get $2,160!
Earning between $90,001 and $126,000, the “tax relief” tapers off from the $1,080 to $0.
This is, of course dependent on your tax affairs. If you’ve got any questions about your FY2018-2019 tax return, don’t hesitate to give us a call.