ATO to pay the $950 Tax Bonus to Australian workers

Providing the $950 tax bonus payment , announce by the government this week, passes through parliament, The Australian Taxation office will be responsible for for making the payments.

To be eligible to receive the payment taxpayers must lodge their 2008 income tax return no later than 30 June 2009 (or have an extension to lodge beyond that date issued by the ATO) and be an Australian resident.

The ATO will work out if people are eligible for the payment and how much each taxpayer is entitled to from information in their 2008 tax returns.

The ATO will either forward a cheque to the last address for service of notice held on file or to the EFT account as nominated on the last return. In some cases clients have nominated a third party to receive their tax refund. In either case, the ATO has established a special phone line where taxpayers can register their personal bank account details if it is different from the last tax return. The ATO phone number is 1300 686 636.

At this stage the ATO has announced that all changes of address and bank account details should be made by the middle of March 2009 to enable delivery of the payment by April. That may change depending on any delay in the legislation passing through parliament.

The ATO will be releasing further information and details as it becomes available.

By David Maynard

Copyright 2014. My Tax Zone.