News: How to turn nothing into nothing into $2,250

With the governments second economic stimulas package's "Tax Bonus Payment" due be sent out from Monday the 6th of April it gives many people the opportunity to turn nothing into $2,250

The government wants us to spend the money on something that will stimulate the economy (like a new TV imported from China or a computer made in India), but should you not need to spend the money then there is a way to more than double it using the Superannuation Co-Contribution.

The Superannuation Co-Contribution has been around since the 1 July 2003 and providing you earn less than $30,342 in the 2008 / 2009 financial year and contribute up to $1,000 as an after tax contribution the goverenment will top up your contribution by 150%. Even if you earn up to $60,342 the government will still add something to your superannuation account.

So when you receive your "Tax Bonus Payment" consider that the money that was given to you, could be worth up to $2,250 by simply using co-contribution.

If you want more information on the "Tax Bonus Payment" click here

For a light hearted look at the "Tax Bonus Payment" click here