$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
http://www.news.com.au/business/story/0,27753,25001488-462,00.html).

We will release more information as it becomes available.

By David Maynard

Copyright 2014. My Tax Zone.