Stimulus payments start coming through

The government's tax bonus payments began on Monday, with eligible taxpayers set to receive $250, $600 or $900. An estimated 8.7 million taxpayers are eligible to receive these payments, however taxpayers yet to file a tax return for the 2007-08 financial year are at risk of missing out.

ATO second commissioner Jennie Granger, said “400,000 outstanding tax returns had been lodged since February 3, but that 1.2 million eligible taxpayer had yet to lodge.” A cut off deadline of June 30 is enforced unless they have been granted an extension from the Tax Commissioner.

ATMs are said to be loaded with additional cash to cater for increases in the amount of withdrawals over the coming weeks.

Source: The Australian Financial Review