$950 bonus payment to 8.7 million workers

The Australian government announced a $42 billion package today to kickstart the economy.

An immediate injection of $12.7 billion in one-off bonus payments of $950 each for low- and middle-income households and individuals through five bonuses to be paid in the next few weeks.

It means 8.7 million workers earning $100,000 or less will receive a lump sum payment of up to $950 each from April.

About 1.5 million single-income families will also receive the payment, provided they receive Family Tax Benefit Part B, in the fortnight beginning March 11. (source News.com

We will release more information as it becomes available.

By David Maynard

Copyright 2014. My Tax Zone.