Coronavirus Resources (COVID-19)
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The Crisis Trifecta (#crisistrifecta)
I’m calling this a crisis trifecta hence why it’s unprecedented and causing so much havoc. It started with the health crisis of Coronavirus, quickly escalated into a financial crisis, both of which are causing a lifestyle crisis. It’s likely to end back with health, but this time mental health.
Not all three crises will affect everyone, and you may be at different stages of grief for each crisis. This all makes this crisis trifecta incredibly hard to manage. 🙁 Although most people are talking of the first two crises, the lifestyle crisis isn’t being talked about as much. Plus the health crisis is two-fold.
The two-fold Health Crisis – part one Coronavirus (COVID-19)
Unless you are a conspiracy theorist, then the #crisistrifecta was caused by the Coronavirus strain (later named COVID-19), passing from animal to human (whether via ingestion or via some form of lab testing gone wrong). Either way COVID-19 first appeared to make the leap from animal to human in Wuhan, Hubei Province, China in November 2019.
This led to a mutation which allowed human to human transmission and the virus commenced it’s spread. With no initial awareness spread was fast and wide, and was likened to a bad flu and in worst cases pneumonia. This pneumonia phase caused the most concern as treatment often requires the use of ICU units and ventilators. These resources were not readily available once the exponential spreading (like a super charged pyramid scheme) took hold.
This led the World Health Organisation (WHO) to declare a global pandemic in March 2020.
The Health Crisis – part two – Mental Health
For some it’s hard to see pass the initial health crisis and the pressures it’s putting on the health systems worldwide. We’ve all seen or heard tragic tales from places like Italy where ICU doctors have to make a choice who gets a ventilator and lives, and who is left to die. Makeshift hospitals and more tragically makeshift morgues from refrigerated trucks are popping up. What is not yet being seen as much, but there is an undercurrent is Mental Health.
Mental Health affects many people at the best of times. Chuck a few crises in the mix, and things just got a whole lot harder to cope with for many. Already after only a few weeks into a semi lockdown in Australia (suppression of movement is the more official term), people are struggling to cope with the pressure. The pressure from financial stress (the stimulus measures aren’t happening quick enough for many).
The Lifestyle Crisis – the unspoken crisis
Dealing with business owners, some are not facing any aspect of the health or the financial crisis YET. BUT they ARE still impacted by #crisistrifecta. Why? Because there is actually a third crisis, the lifestyle crisis, and one that for the Government and the mainstream media is kind of alluding to, but not yet labelled. Why is this important? Because it gets talked about, it gets recognised and it gets acknowledged with ways to overcome it.
The Lifestyle Crisis incorporates the fallout from the health and financial crises which are already widely acknowledged. Your routine is completely disrupted, and as humans many are creatures of habit. Work, exercise, schooling and learning, entertaining and self-care have all been completely disrupted with new ways to cope needing to be found.
Many are now working from home. Although for many small business owners we deal with, this was already the done thing. For those in the big bad corporate world, this is something very new. Some freelancer friends love their working from home life has now been validated as actually working from home! Many have now realised how challenging working from home actually can be!
Children are being home schooled (of sorts) in droves as some schools have seen a 95% drop off in students physically attending (with some schools/areas shutting schools altogether). This is putting immense pressure on already frazzled parents who now need to work from home, run a business, manage an environment of constant change AND home school their kids. Potentially even worse for some is the current/impending school holidays where there isn’t even any prescribed learning to keep them occupied, no playdates in person and no holidays we can take.
Old-fashioned games and puzzles are coming back out, as are some nice things like sending cards or letters (penpals were so much fun back in the day). With an inability to see grandparents and older generations, different forms of connection are being sought to help overcome the loneliness.
JobKeeper – Australian Business Stimlus for Employers
Employers (including for this purpose sole traders with no actual employees), have been encouraged to retain staff. This allows less pressure on the Centrelink welfare system and will artificially create a lower unemployment rate (even though people may not be working).
We have been updating people via our Facebook page, and you will find the latest on the JobKeeper page.
Australian Government Coronavirus Business Stimulus Package
The following is the completely rough transcript from the first Facebook Live I did on this topic. You can check out the replay here.
Facebook Live Transcript (ROUGH AND UNEDITED – to be updated)
Information I’m going to give you today is generic so what I’m going to be doing is what are going to be doing is running store a few things today so I’m going to cover off the crisis perfect but I think that we’re facing I’m not talk about how hard it is everyone just really briefly just to remind you just be kind of Health and mental health and then I’m normal government support that’s available to that many of you have not taken up and then I’m going to talk about the business stimulus package and we’re going to go through some elements of that and I’m also going to worry about a few things that have been created because of the business stimulus so excuse me if I’m looking away a bit I’m trying to get my partner’s monitoring the chat I’m so you can let me know if there’s any questions cos it’s too hard to do all at once
What is the crisis trifecta what it is is that government and everyone else is talking about to crises at the moment but the crises at the moment is not really too it’s actually so what are they number one is of the health crisis whether or not you believe it or not whether you’re there as whatever there is a virus that’s going around at community and it is causing people to get sick ok what the problem is is that when you were young and things you are to be a better able to fight it if you are over 70 or have a pre-existing condition you have a very your assistance more compromise you’ve got much more chance of being more affected heath why the government has put us in to effectively locked Out New South Wales government finally kind of a missing that this really is locked out and because they are now actually fighting people singing in a park and stuff like that even if it’s only two people just be wary of that.
the reason they doing that is because if this blows up based on their modelling so when you have three people infected they give it to 3 people each him now got it to 9 people think those 9 people give it to 3 people have got 27 people and it Mark magnifies out very quickly so it’s a reverse of a pyramid scheme effectively so this breeders farm white so we can stop people spreading it to each other those at risk won’t get it and that’s the whole idea is to all won’t get it or same time that’s not what we want we don’t have enough I see you that says only 2200 in the country is not enough to cope with it ok so that’s why the health prices exists that’s why the government’s put us in lockdown the second part of it is that it’s created a financial crisis if you lockdown if you lock down the world which is pretty much what just happened you were going to create a financial crisis ok now we have nursery financial crisis not that long ago global financial crisis but it was a crisis by itself the health crisis in the past things like stars were by themselves you’ve got to go back to you know the plane goes something about playing before you looking what we’ve got now which is effectively a trifecta ok so what’s the third parts the traffic that is.
a lifestyle crisis and that is where people have turned upside down feel like you’re grounded at the moment like oh my god I’m stuck in the house I can’t go anywhere I can’t be my mates and I we feel like we 16 again and I feel really sorry for your 16-year-old because I know how hard is going to be to keep them locked down so the lock the lifestyle thing is things like the fact that you’re now having to homeschool your kids the lifestyle things are a really problematic ok so they are awful and some people honestly will only get the lifestyle impact their businesses may not be affected I said couple of people on here like Celia whose business has been quite decimator cos she’s in events manager but some people’s businesses are actually booming in this time you manufacturer hand sanitizer you are doing pretty good at the moment this is a fine summer not and when I looked at businesses I kind of and to where they are are they growing other shrinking are they absolutely not even basically able to function so we have different levels so the lifestyle price is things like not being able to do what you normally do been locked down having a kids home from school so you going to be facing each of these crises at different levels ok so some of the crises as all of them at once and you’re going to go through grief ok you going to go through stages the last stages of grief stages are you start at the face so most of us go through some of us through trying to do different things trying to test new ideas and really trying to do everything we can to reinvigorate things and then we go through the acceptance and the hose actually I’m coming to work we’re just going to get through this and move on so this is what we’re going through so 33 separate crisis financial health and lifestyle so that’s really important to understand what that’s doing is that it’s hard
everybody but everyone’s going through those stages of grief differently and they may also be a different stages for the different cry seats so you may be ok at the moment financially but the financial crisis might hit you in a few months when your tenant stops paying rent or whatever so everyone can a different path and a different journey so be careful with that one so remember to be kind to people a couple of weeks ago there was a travel person and she was really fishing out every time I put a comment or anything like that because she was going through the face of it ok so be tolerant of people be accepting of people be kind to people if you’re dealing with someone on the phone with Centrelink or something or am I not the ones making the course they’re not the ones you know putting us in the situation that just the bearer of the news so you know those you that apply for jobs at Centrelink over this time you don’t be careful what you wish for because you might be the person on ok so that leads to health and mental health
the health crisis that we are not that however we believe it or not we have that this is going to create though the life so S6 and the end the financial aspects are going to create a massive mental health crisis and I’ve already heard a few stories of people that have decided they don’t want to continue life anymore and that’s really really really tragic ok I said consider setting moving on well that’s great and a lot of people have now already got that acceptance days because there’s no point worrying about stuff we can’t control there’s no point stressing that things we can’t control work out what we can control and move on and that’s why I’m doing this today is just to get you through and go ok guys what can we focus on today we going to focus on system you left side of it so before you can see actual stimulus package I just want to remind you that the normal things that you can actually get access to
So some of them are things like the service nsw
Wales service New South Wales started a business concierge service which fight on from their easy to do business program which started a couple of years ago and Parramatta with cafes as a test case and what happened with that and say
years to open and with a ridiculous amount of retake the head to fill in something like 70 odd forms and what they do with Crowder one source where they could fill in a form and everything was generated off that in case that was easy to do business what they did after that was ago actually with work got a whole bunch of stuff now we know all this information why don’t we share that more broadly so now they actually look after things like if you got queries that regulations if you got queries about which of these payments are due to you you can certainly call service New South Wales service New South Wales as open they are open 24/7 at the moment on 13078 so you can call them and get help and support from them to work out what you’re entitled to ok if we come today doesn’t go that fast ok so the stimulus packages before I forgot about the other this is connect if you’re in New South Wales you we have the business connect program so service New South Wales obviously New South Wales business connect is also a New South Wales normally the program gives you 4 hours of business device at no cost to you but now with coronavirus the New South Wales government has now made that 34 hours of business advice and training at no cost to you so please if you haven’t used the service recently a couple of hours but why did it spending some money will go use the service it’s available to you so this is one of the support measures the New South Wales government has support put in Victoria has put in some packages to give money to some small businesses so have a look what’s available in your area if you’re not in the area assess the Australian Small Business advisory service digital Business Solutions what a mouthful they also offer they do training and advice to say please make sure you’re taking advantage of all of these services that are available to you and I’m just going to check it’s all good
ok so David typical services available there’s also things like wage subsidies and stuff like that that you can still tap into because I know some people are still having to hire new employees new employees that are higher do not get the job keeper so what you want to do for those people is take advantage of any wage substance that may be applicable so things like restart for over 50s that have been out of work for six months I think it’s like you start the younger ones now the payments of each other things but the wage subsidy still apply ok so the stimulus package is now we’ll go back to the first one that was released so $750 was given to beneficiaries and a lot of people jumped up in the air with the recently government did it is typically these people other people that will spend money because gave 752 a small business owner that would probably pay it on bills or they were use it on that they would keep it aside for a rainy Day kind of thing if you give it to a beneficiary of stereotyping but if you give it to a beneficiary there’s a very high chance ill go out and spend it they will go out and I will blow that money they will you know by a TV that I’ll do whatever right so the initial idea was that the economy people go spending and all help clearly the numbers were not quite done right clearly they had it really thought about locking down the country and the numbers didn’t suck up so that payment was a bit of a joke so they have sorry they have another 7/52 repayment for them for the first two payments actually went out today not everyone got their payment today some of it still going on ok but there’s another for the people that will not be eligible for the coronavirus supplements they’ll get another 750 in July so that it’s not what a business is now when the first came out and they were actually the people that got everything was exactly what the government is that they gave them money to people that help the government so who helps a government people employed there for people that had employees were given money ok so the cash assistance the small business and after this I will post some things but not down the best place to get the link documents and stuff that I’m referring to is from treasury gov.au businesses so that’s where you will find these type of businesses individuals and stuff like that but if you’re looking for the ones for businesses go to slash businesses
ok so just want to make sure this is working OK sorry to say I’m sorry I probably if you want to do a question rather than just make a comment can you go #q in front of the question please just so that that way Mark can pick them up and let me know that I need to ask them because otherwise I can’t keep track ok so what we’re gonna do now that’s the one which is has had a minimum $10,000 payment now tell you things like eligibility and things like that worked examples and you actually get ok and this is where I see some of the people getting getting misled by other devices or accountants or whatever because they’re making interpretations but they don’t go with what’s on here so for it since I’ve seen some people saying that job keep it is means-tested no it’s not there’s nothing in the eligibility referring to a means test so job seeker is means-tested but job keeper is not ok now so the cash assistance for business that was the one that was so people that had employees so the way it works if you have paid people in the March quarter and it had to be before the 12th of March so basically they’re trying to wipe out people they suddenly no make payments lace and therefore can catch themselves you had to make a payment before 12 March to employees using the St so everyone should be using sgp now for making PAYG withholding to employees and just notifying payments to employees in the example there is actually paid and not paying PAYG he saw a port address TP the payments to those people and therefore he still eligible for the $10,000 so what did God is it the minimum $10,000 for people that have paid will today’s the end of March so people that when they Lodge BAS is so when you have one here when you lodge your BAS return you will be eligible if you have made payments to people to receive the $10,000 minimum now for a lot of you I know that are watching there’s no way that you have spent over ten thousand PAYG withholding and that quarter so therefore for instance if you were meant to pay $2,000 PAYG to your to your people so $2,000 was meant to go to the 3 to the tax department on behalf of your people then instead of paying in $2,000 that ATO will credit you were $2,000 on the 28th of April but in addition they will refund you an additional $1,000 now do maybe some exceptions to this where you have a tax debt or something like that but if you don’t have a tax debt than that money will actually come to you so you will actually get payment and your little paws ok that’s it that payment is likely to be additional two weeks after the 28th of April date 28th of April’s accrediting days in the PAYG system the refunds after that may ok so that a lot of businesses will help them out if they had employees now to get the next minimum $5,000 of that payment you had received the first 10000 or the first payment and then on top of that you need to keep having active employees and how you’ve got her somebody active and it period you’ve got a paid acsep again and that next quarter do you have to do the best first as serious saying would you those questions please are my sister’s not being reliable at the moment so just because I can’t see cause the tripod sorry my assistant have to sack him.5000 for next quarter
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but your? Flexitank in the second quarter as long as you paid someone under STP you then be article for the second $5,000 payment for that quarter and then you’ll get an additional 5000 payment in the September quarter is long as you paid STP funds again and that one so for me small businesses this is a $20,000 cash flow that will really be good for your business is because it is actually free cash flow in a lot of respect so that is a good one so the cashless assistance for businesses as for anybody that had employed people ok so that’s employment stuff the document for that is called cash assistance for businesses so that’s that one then the government jobs and job keeper try and get home ok so I’ll stay back a few questions for I continue the next financial pressure with tenants I’m sure we’ll come but hoping the back for comes the party so the bank already announced that they will give you six months home loan reprieve if you are approached them under hardship claim that’s fine and well I’m good but it doesn’t actually technically cover residential investment properties so the issue with residential investment properties is that a lot of them have been on interest only terms and backed up only just changed the principal and interest turns the share their for it’s a the market sells 20% and then when banks firecell that into fire sell another 20% or so later and I’m sure it’s orellana lasagna and I’m sure she can validate that comment you might be looking at a property 40% water was at the start of the crisis what that means is that a bank is taking a huge risk if it’s letting you off making payments thanks have first of all look at the repayments security of lines are used to work and banking then they look at you know whether or not the security itself will help if somebody doesn’t make those repayments are repayments is always the first thing and it’s securities is the backup measure so if the backup measure as worthless then they don’t really want to stop you from doing the paint allow you to stop payments so they it just came on the news before that they are putting the commercial leases through the National Canberra on Friday so there should be an announcement Friday about commercial leases they did however say that residential leases are much more complicated and it is unlikely they will have an answer for us on Friday ok so that is definitely a watch the space ok so hopefully that answers I’ve got a tenant in Melbourne they haven’t paid rent this month that been a problem then it before it’s not like this is just a covid-19 thing this is a problem but Melbourne really hard to kick people out unfortunately so we kind of stuff with them so that
23:51
Cecilia to have to pay the best first or you just lodge it and then a creditor as far as they understand it’s going to be a credit system and then they will refund the extra however the alternative would be option we pay and save the $2,000 and then they give us that the fault in that makes no sense whatsoever so I would hope they’re not doing that one would hope the crediting they’re doing on the 28th of April would mean we don’t have to pay those amounts remember if you are paying GST and your best so you will need to pay the GST the GST at this stage has not been white the GST is still being paid ok so Carolyn how about sole traders so this is where so sole traders still if they’re employing people still get the employment thing I just mentioned before the cash flow assistance physicist they still get that if you are a do not hi if you do not have any employees whether you’re a sole trader or a soul or even a few more directors and you just haven’t paid yourself then this other initiatives are gonna be the ones that you look at so I’m not the one that was released first but it’s the one that has more the letter t if you like OK so job keeper first of all this to criterias for job keep this the criteria of whether or not the employer is eligible to register to be a job keeper employer so that stage 1 Stage 2 is whether the employees and selves are eligible so ok so whether the employer is eligible ok so that one there is on the information from boys sheet so stop keep a payment information for employers and what that one is employers this is what makes you eligible your business turnover I’m taking your lesson a billion shinova will be reduced by more than 30% relative to a comparable period a year ago of at least a month so what that means we’re just finished March so for the people like Celia and Lisa and stuff that are affected early in this because they are travelling events in that and lost their income immediately you guys will obviously have a really bad March month so you’re bad March month you compare that to what it was March 2019 and you can go tiktok it’s definitely worth I can claim ok for those of you who have just closed their doors open since I saw Kim Hughes is on here she’s beauty I know and her last day of beauty treatments she did a 1215 hour day or whatever so a lot of beauticians May that she had a big month of March because people weren’t preempting the fact that we’re going to be locked out and didn’t go bodies and all the rest of it they saw their beauticians so much but now you shut so you may have very little or absolutely no income coming in here on it there for your April or easily be able to compare two April last year OK cos you have no income vs whatever you and last yet now so that covers the ones that and more than 30% now I’m assuming none of your Rover billion and if you have an assessment whether or not you fit into the job keep employer thing now this applies whether or sole trader or company
27:40
you are a employer of other people so you’re still at for this purpose considered an employer of yourself as a sole trader so Carolyn you have contractors not employees unfortunately contractors are not covered they’re not employees of yours they are employees of themselves therefore they need to sort their own stuff out so they are a small business for this purpose so they need to do their own thanks so this is also a time I’m just glad this now there’s a lot of people that have been paying people and I’m not saying Karen’s one of them but I’m just saying people have been paying people and correctly if you some people have been playing people as contractors when they 100% should have been employees all along and honestly this is trying to bite you and bite them which is a bit sad but it’s also maybe this is the time to revisit things and go can you bring them back if you bring them back are they actually going to be employees to look for that is ATO deemed employee vs contractor so if you go through that tool and you find out your contract is actually should have an employee’s then maybe you want to fix that foregoing Ford ok so that’s just something to look at separately so remember job keep a payment eligible employees are less than 30% they have had a reduction in their business of 30% even now already had it or will definitely have it ok so soon as you’re going to be able to prove it you will be able to claim it so for instance if your beautician you shut down now you can claim it now cos we already know there’s no way that you’re getting in April what you and last April I just checking questions
29:24
partnership no employees please so partnerships depending on the entities in the partnership but most partnerships are usually to sole traders combined there for all the sole trader rules apply and because the tax and that’s paid at the sole trader level so definitely you’re looking at the sole trader stuff that’s anything I’m talking about sole trader wise applies to them
29:45
ok so 30% reduction in your business doesn’t matter if your sole trader or if your company doesn’t matter ok 30% reduction now unfortunately this is done I mean some people miss out now some of them are going to miss out because their there they’re making more money like handcent hand sanitizer manufacturer it say that fast they’re going to be making any particular is an issue that have grown substantially and I’ve been chatting to a few of those today and it’s really sad actually because some of them had done everything right run their business that invested in their business they’ve done everything right and that actually put their their employees actually in a bad position because they can’t catch up keeper because their business is not eligible for it which is really sad but unfortunately that’s just the case so for instance if you have gone up your a hundred percent of the last year then it’s going to be really hard for it get back down to a 30% lower than the last year but just not going to happen so hopefully another thing here is the stuff that came out this week about job keeper has not yet been ratified impala manteqet it is not ratified what that means it’s still has to be legislated it still has to be presented to the houses of Parliament and go through both houses and be approved the reason why I’m talking about this now before it’s been ratified because
31:35
in this environment noticed there’s a Silver lining from Queensland to be doing their own thing not much fighting between politicians it’s so good it’s like oh my god we don’t have to hear this crap them fighting each other all the time because they recognise who wants to be in charge so the comment that you know not being too hard on people also men remember don’t be too hard on who’s in charge as much as you love or hate Scott Morrison would you want to be in his position right now freaking hell right it’s just no way would we want to be in his position right now he is in a hell place because if he does things to stop the spread of the disease and to keep people out of the hospital and stop what’s happening in Italy happening where the doctors have to make a choice which person of these eight gets a ventilator and survives it’s not ok and then other people complaining about the economy and economy and other people please remember that I don’t care which said you’re on or whatever it’s irrelevant the factors just behind people just be because think about it you and charge it be pretty bloody ok so we’ll talk to check the things here family trusts it’s probably not going to go into the family trust stuff that’s getting too complicated so today I’m giving you a confirmation of the most so it doesn’t apply to you need more of the contact service New South Wales contact your account contact your trusted advisor
33:16
partner can make the same claims because you’re actually doing your own and comes things so your own your partnership income will be split in half and so you do your own things based on your behalf of the anchor ok so the 30% reduction as I said I’m not going to be even though they haven’t got the right one
33:51
Ok so who are eligible employee so their employers eligible to who is ours was so the rules who is ours was an employee so the rules are they are currently employed by the eligible employees including those stood down or rehire it now what that means is a lot of people laid off so for instance Qantas laid off a whole lot of people you know a lot of people have made a lot of you of late staff off ok if your stuff off you can hire them them off them down if you just understand them down and it’s easy peasy however you laid them off you’ve got a bit more of an issue because you did you pay out there entitlements did you pay out leave and long service leave and stuff like that you may have an issue ok so that case you will need to speak to your HR professional about how to handle if you got a chance take them now
34:45 why would you want to reinsate them? because you’re probablyWingham a favour although there’s been lots of jobs listed this been twenty 30000 jobs what he does jobs whatever listed because of all that stuff going on more delivery people more call centre people and all that obviously hundreds of thousands and potentially a million people have been laid off so Oster Downs you talking a lot of people going for a very small amount of jobs ok so if you rehire them then what that means is that they are den eligible as long as they fit the other criteria of still getting the job keep paying it which as I said a superior so they were employed by the employer on the 1st of March that’s important I know some people that had layoff suffer for that sorry tough luck they don’t count and one set of high and stuff after that date again sorry unlucky they don’t count full-time part-time or long-term full-time yep they’re fine they’re part-time they’re fine long-term casuals are people over 12 months so again these are people that are going to miss out the 12 month is I going people less than 12 months casual are going to miss out it’s another category on the job keep of payment ok just on the job keeper payment
and the other one is sole traders OK which I know a lot of you I registered it now the sole trader problem is that it’s a little bit I clear here where you fit now it looks like it’s more than likely going to be the 12 months so you have to be a sole trader of 12 months to get job keeper because they’re looking at the comparison on where you are now this is a year ago they can’t do that if you weren’t in business a year ago I’m so it looks pretty all intents and purposes it’s going to be that but also you kind of like a casual employee so you really are a casual employee less than less than a year so that way you’re going to be sunny to it
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I have 12 months to get job keeper because they’re looking at the comparison of where you are now this is a year ago they can’t do that if you went in business a year ago so in looks for all intents and purposes it’s going to be that but also you kind of like a casual employee so you really are a casual employee less than less than a year so that way
36:50
you’re need to be at least 16 years of age
now and you have to be an Australian citizen a visa holder blah blah so New Zealanders can get job keep up being a Kiwi myself I’m so bloody glad that there’s something for Kiwis if their employers eligible because otherwise they get diddly-squat under the social welfare system even if they’ve been paying taxes for 10 years 15 years sucks you can’t get from more than one employer now the examples and here are very interesting and they spine a few things so one for instance is some people are actually going to do this week and you’re eligible for job keeper your 1500 fortnite people that I don’t know they haven’t said anything about you said you have to be at least 16 years of age kids that start casual at 14 years and 9 months so they’ve been over 12 months casuals at Maccas does that mean they’re eligible for $1,500 a fortnight could be a really interesting because you can imagine a 16-year-old with 1500 bucks in their pocket for the next 6 months per fortnight it’s pretty bloodyyour money for them right there going to be going to be spending so maybe that’s good the economy so don’t know where that they will exclude that when they do the final legislation or where that will actually but you may find any questions for not-for-profit not for profits are eligible for you are just like any other employer in this regard so yes you may do that ok
38:50
So the payment of the money is a little bit confusing and the examples Hera quite good but I’ll give you another example of someone that can benefit from this if someone’s primary and each person if they have multiple jobs choose a primary employer to remember this would also apply to you if you’re a sole trader and you also do a part-time job so if you have given your part-time job your tfn number then they are actually your primary employer and therefore you could get job keeper through them even if you weren’t eligible through it for it from your own coffers yourself now that could work in some people’s favourite again really well because you’re you were eligible for it from your own copies yourself now that could work in some people’s favourite again really well because your business might still be going you might still be earning money as a sole trader but still be eligible for job keeper again a little bit but that’s what they are if you have two jobs and your main job your primary job calls it quits so there a cafe and there are art gallery and the shutdown OK this is important art gallery shut down the other job the person has a cafe which they continue doing on reduced hours as a delivery person they get job keep are from the shutdown business or 1500 fortnight before and they also get to keep their part-time earnings and their other job so like I said some people are actually going to do better out of this rather than worse but unfortunately not necessarily the people I was speaking to
40:29so the process to go to ruidoso because it hasn’t been ratified by Parliament yet the only thing you can do at the moment is to notify to show express your interest that’s the only thing you can do at the moment once it goes through parliament then you will be able to offer go through the full application process so what base of the happens is the employer will register interest the employer will be able to apply for the steam once it goes life now the first payments are not occurring to the first week of May so if you are considering rehiring employees that was stood down or or let go just bear that in mind because you will have to cover their payments for the month of April and then you’ll get the money back in the first week of May so all the payments for this are going to be a month in arrears and that again could course in business is a bit of a cash flow problem ok so that’s what’s going on with that when ok so it will be in arrears
41:34
you will need to identify who eligible employees are for the job keep of payments and you must provide monthly updates to the ATO now that will be done effectively through STP anyway so apart from for sole traders so sole traders are on share the exception and sole traders will have to report their money separately
41:55
so participating’ employers must pay the minimum $1,500 OK so you can’t go
they’re not working or they’re only used to earn $750 so I’m not going to pay them $1,500 in a fortnight you must pay them $1,500 for the fortnight before tax ok if you can’t keep it at that money or whatever the question about super on the job keep a payment if your business is shut down and you are paying them the $1,500 because you getting that from the government and you’re getting nowhere income or anything you do not need to pay the super guarantee however if your business is still running then when your disc is still running you are a metre pay them then their normal celery ok now you can agree with that person to drop their normal celery but you cannot drop it below the $1,500 so for instance if the person was earning $3,000 a fortnight before tax and continues working in the business the business would continue to pay that person there full-time salary of $3,000 if you can afford it before tax and the business will receive $1,500 per fortnight from the job keep a payment to subsidize the cost of her celery but you would continue paying the super guarantee on her income ok so there is a difference between employers you’re still paying and those that you’re not if you’re paying paying more for their employees going to earn more so say for instance the employee was earning $1,000 a fortnight but now they’re going to get fit dollars a fortnight you pay the super guarantee on the thousand dollars but the extra 500 you don’t have to ok later because it helps
43:57
also play super on Jaguar ok so but if you read the green boxes on here you will see what they are meant to be so that is job keeper in a nutshell as I said it is not means tested so when I read out the eligibility for the employee there was no means testing in it is not means-tested you are there for the whole issue that apply for job seeker does not apply for this one that’s why this one is superior the person gets more money
44:38
but in addition they are also remain your employee so the better for you to retain your good stuff because the comment was made that a lot of small businesses are there
so they want to keep them on so make sure that you keep on is many of good employees you can we all know it’s really hard to get good start so if you can keep them it’s a good idea to keep it and what it means and I when I worked in New Zealand many many moons go to show my age here it was a thing called the Asian financial crisis and when that occurred a lot of people laid off workers and one of my client was an electrical like PowerPoints and they saw those type of things and what they do was I said no we’re not laying off stuff because we know when it bounces we’re going to hit the ground running because we’re still going to have our team so what they didn’t stand as they got their workers to take leaves I got them to do 9 day fortnite take a reduction and pay do all those type of things but keep them on so what happened afterwards that business went through the roof because it keeps investing in itself during it hard have the cash flow enough to keep going but that’s why they did reduce the payments in the hours to people but they did Captain guy and they found back so quickly and they were like Superstars they were really really awesome so definitely if you can keep people on zoo but bear in mind you are getting the money from the government a month in a rears ok and this applies to you to the money that you’re getting as a sole trader to get that the month for the first time at you’re going to get as a sole trader even like if you’re getting nothing right now you’re not going to get anything until that first week of May so you’ve got to go to survive to the first week of May on no money coming in
ROUGH UNEDITED FACEBOOK LIVE TRANSCRIPT TO BE UPDATED!!
so it will be up to the employer if they want to pay super on the additional wage paid because of the job heap of payment ok so I said look at this green box and you will get a lot of answers from there ok for that job keeper is there any more questions about job keep up so I warned you about businesses that have had a really good year unfortunately they are potentially not going to be eligible businesses that are just going anyway and not going to be eligible and I’ve told you the 30% thing so the 30% things created a bit of discussion today so I thought id just mention that so the 30% thing what it means is so the 30% is a 30% reduction year-on-year ideally so if your march was still good but it was going to be terrible then you can compare April to April because it says that you have Xperia already that’s not down because of device or you will experience it ok so it’s have all will but you need to go to prove it later if you ever checked on it so if you were audited and you faked it you could get yourselves and a world of hurt so if that’s nothing else on job keep up
47:45
I will go back onto job seeker so if you’re not eligible for job keeper because of those things that we mentioned then jobseeker it is unfortunately now job seeker does she thought with a few issues so I just remind you the ATO is where they are currently taking ato.gov.au weather taking expressions of interest for job keeper but the actual application process is not there yet ill probably be through myGov through the ATO thing on there but it hasn’t gone through somebody’s just made a comment I’ve gone to isolation
38:37
So the jobseeker what happens on this one is that people that weren’t eligible for other things ok sorry I go back to this question sorry about that I’m still relevant so we’re like I therapist here I’ve gone into isolation but my subcontractors are still working meaning I’m still getting a small amount of income so significantly less without me and for other contractors can I apply yes yes so as long as your business has suffered a 30% reduction then the employees under it I eligible for job keeper ok so in that would include yourself as well ok now sorry rephrase that if you are a company it won’t if you were making payments for yourself now again this comes back to the black economy thing a lot of small businesses have been doing the wrong thing I saw some clients back in November and they told me everything we just go and buy groceries and we go and go to the movies so we take that out of that is really wrong you’re not allowed to do that some accountants and bookkeepers will just put that through as drawings you can’t do drawings really in a company unless you’ve got a loan that you made the company you let the company money so differences when I started my business I had to pay my whopping insurance still so am I pay my whopping insurance will be then paid me money as just straight drawings out of their company account but I paid it just straight to me I didn’t buy groceries with it or something like that ok so what it means if people have been doing that sort of thing is that going to miss out that assistance payment and I will send the ceiling job keep up because they wouldn’t have they won’t be an eligible employee because they weren’t receiving they don’t fit any of these bulls any of the criteria they weren’t a full-time employee part-time and casual so if you weren’t paying yourself and you were and should have been an employee of a company yes you might be in a bit of strife so this is against something that after this is all over with or while you’re sorting yourselves out over the next few months look at these things and go have I been doing the right thing because if you haven’t now is a chance to kind of go ok maybe I should have been playing myself as an employee properly instead of causing things that cause accountants like I know Karen I’m here but I would just vision 78 and things yeah otherwise you’ll be really careful taking money out of your account
yeah you’ve got a clear all your things outweigh energy otherwise you’ll end up in a world of pain so be really careful when taking money just for groceries and stuff out of your account I would have done it through to put stuff up on the screen Services New South Wales
51:45
for partner’s income for job seeker allowance is going to change yes it has already changed unfortunately it changed from about $48,000 up to $79,000 and honestly that doesn’t really help a lot of people again there is some said they’re trying to be there they’re trying to make supporting all Australians blah blah but the reality something like hugely better off that don’t really deserve to be and some people are really worse off and it’s not it’s going to be hard because we build our lives based on the income that we had coming in and sure we should have concerns that sees there and you know if you go back to what you learn from your grandma or whatever it’s like I make sure you have three months to look after you and all that stuff so we should be doing that kind of thing but unfortunately yeah that the threshold for partner’s is not that great so if your resorting to job seeker unfortunately a lot of people are going to miss out ok
52:52 you’ve applied for jobseeker on myGov 1 Christie it wasn’t the wrong one because when you applied for jobs it was the only one ok so job keeper didn’t exist then apply for job seeker and you’re not sure whether you’re going to be eligible for job keep it definitely keep your job seeker application and ok because you want the ball rolling in case something goes wrong with a job keeper ok so please make sure that you keep on top of these things ok so just keep the job seeker and what will happen is that if you got a job seeker payment and you also got the job keep a payment you have to report the ATO what you’ve learnt so what will happen if the AC on that will go and Centrelink will go our way here you and too much money and then they will not let you get those payments ok so it is a moving thing so once you become an eligible for jobs and how you become an eligible job see you so that will sort itself out what about my retired 73rd Harvey was not involved in business but entitled to pension because of the assets I’m not going to cover that one because it’s a ticket issued it’s not generally business-related so that one would need to be a session or contact service New South Wales that wanna see because it’s not my fault employer themselves no you cannot be PAYG withholding through SCP no you cannot a sole trader as a partnership of sole traders no can’t do that you can be an employee when you’re in a company but not but as I mentioned earlier they are the job keeper purposes they are considering you kind of to be an employer OK cuz your employer of yourself for the service but it’s different from being an employee kind of makes sense that it doesn’t ok so the job seeker payment 1500 per fortnight for up to 6 months so they can only claim parenting farm household or special benefits recipients they were the only type of things that are allowed basically what’s happening with these people if you’re eligible for job seeker by Evan $1 it is worth playing it because if you get job seeker you also get the coronavirus supplement and the coronavirus supplement is an additional $550 a fortnight ok so they get up to 550 and jobseeker but that might be $1 and then you get the 550 on the coronavirus supplement the job seeker so if people would can’t get your keeper they can get job seeker ok so that’s that one why have I lost the piece ok so jobseeker you need to show that your income your hours have reduced or your sole trader business has reduced since December that is all the people that have been through this already have said it’s only staying till December that you need to prove that you’ve had that reduction so it’s December to now so put that stuff through it’s for anyone that stood down lost their employment hasn’t been reinstated is not eligible for job keeper now this is the one that’s a little bit Mercy do people that were should have been employees of a company as their directors do they get covered for that one this is one that’s another grey area I haven’t seen anything specifically on that but I would think because you’re not getting any income you should be eligible to claim it and I’ll show you it’s means-tested job seeker so it’s means tested against what you weren’t as well as what your partner and see your partner Canon 7 up to $79,000 and $79,000 your thing is going to go to zero so you won’t be available anymore but this also means testing on your own and come for some of you have multiple sources of income so one or two of them a dropped and something else has gone up ok question wise Julia Julie sorry what about small hobby businesses that do not earn enough money to pay tax as it is there only source of income no other job so not doing bad not paying themselves away Jett Cetera have a partner who is the main source of income for the family I know when she would have a few of these and I be another entitled to any of these so if the partner turning over $79,000 they will not be eligible for job seeker if you are small business activities that take you over the threshold for your personal income which is more like that 48000 then you won’t be eligible for it either but otherwise you can as I said even if you get $1 of job seeker it’s worth while I me because you can get coronavirus supplement but if you’re eligible for job keeper because your business income has reduced by 30% go for job kefir first so job keep it is always the best one to go for job seeker is just for those that fall through the cracks and can’t get anything else
58:40
so if you get approved for job seeker you’re allowed to get the coronavirus supplement not means tested that part of it so coronavirus supplement is a flat $550 ok so that is voice ok so
59:00
I’ve been updated for the changes that have been made because of this ok so what I mean by that is it still says you need to provide separation certificate so you’re leaving certificate from your employers you’re not going to have those and you don’t need to do those ok so it’s way that type of thing the asset testing is wait so if you have more than $400,000 individually and property before you couldn’t claim any of this you can the asset testing is wave so don’t worry about any of the questions that asset testing it will be taken out eventually
59:40
Job keeper claim will not be affected by stuff
correct legit won’t be a job keeper is not income tested it is not means tested it is not as he tested it is to do with the business and is not to do with your you want partner’s wages or anything like that no because that would be very tricky prophecy questions I would think about you know knowing about how much will partner’s and stuff which be a bit earlier so for the job keeper if you can prove your business has dropped it by 30% the same a onwards you would then receive the first payment in June is that correct they haven’t been very clear about the timing of it like if you only can claim it from that month then or whether you can claim it from now they’ve said things like things are being backdated in all that’s a no that one is not in there yet I would expect that particular clarification to be in the legislation or the notes to the legislation ok so when that goes through the house that’s the sort of thing I would expect to see there
59:55
so the job seeker one is not great so you’ll have to show either you’ve been displaced from your work or as a sole trader or as an employee that’s lost a lot of hours or lost a lot of income you need to go to show that so you need to go to show things like your your payslips going down you know you back savers going down all that type of thing
1:01:10
now the one that wasn’t mentioned we kind of touching it earlier was rentals as I said the commercial leases are meant to be going through National Canberra on Friday and expect to release it on Friday again that will be subject to ratification the one for the residential will not be going through probably on Friday they will talk about it maybe but they don’t think we’re going to have it finalise by Friday so if you are missing out on rental income unfortunate the moment you kind of and you’re not getting anything but remember rental income goes into the job seeker numbers so if you receiving rental income that is going to be a potentially preventing you from getting a job seeker payment remember job keep it doesn’t matter but jobseeker absolutely does ok
1:02:00 at the moment the application process for jobseeker blank is a nightmare as I said the system that hasn’t been get up for it they tried to increase the traffic and stuff to my govern that to let people do their intention to claim so at least make sure you do your intention to claim OK cos then things will be backdated to your intention to claim so please please please if you think you may end up on job seeker make sure you do your intent to claim you do not then have to follow through with it but at least started off they wave the need to have to go to a Centrelink office after those ridiculous queues because we all know that you know we’re not meant to be gathering together and people went gathering to go to Centrelink so that sort of stuff has been resolved ok so
1:02:50
no employee separation certificates required no asset testing so a lot of those things have been wait but unfortunately there’s still in the system so if you’re trying to do an application it’s still in night now I’m sorry about that that’s just the way it is now
1:03:05
Mutual obligation patience so normally when a job seeker has to look for Hester agree to look for work to be able to get there dole payment what’s happening with this is that the requirement for them to look for 20 jobs a month has been dropped to it look for for jobs in a month and to do other job activities like the skills training and stuff like that I’m sure you’ll need to do that online now that only applies to boys
1:03:40
if you are sole trader instead of doing that what you’re agreeing to do instead is to show that you’re keeping your business going ok now what they could mean is that you still continuing with your social media posting you are still you know often tips and doing videos and all that stuff that you were doing before you still got your website up and running you’re still making some online sales if that’s still able to be done all that sort of stuff ok so like continues it just continues in a very very different way and
1:04:05
job seekers are encouraged to say job ready so even if ideally they’re going to come back to you when things resolve themselves they still in courage to make sure that their resume is up-to-date and again this is one of those things that you really should do anyway it’s just one of those sort of housekeeping type things that a business owner can sometimes be that dream and saying that comes out of the blue that you actually I’m actually go back to corporate for that and you really should therefore have your resume updated
1:04:35
if you are applying for jobs I know some of you are part-time workers if your re are applying for jobs remember because
could you get part-time work as well as businesses and thing if you are applying for jobs remember applying for jobs is very different if they make it clear it’s in temporary job so if it’s temporary job because of coronavirus like for instance delivery drivers then your application the way that you do your resume very different from the way that you would do it if it was a normal job ok so you actually tell them I’m a sole trader I intend to be bouncing back into my into my business I am only looking for temporary work you can get rid of me anytime your wife after this is sorted out ok because it actually helps employee they can see the benefit of high and you other people ok so they don’t want to hire a whole bunch people think oh my god these people who do we let go I want to go it’s not a problem soap
1:05:35
so that’s just something to beware of if you are applying for work ok just check so so I see other couple of things I just mention I’m sorry I have got overtime early access to super now some of you will find that you’re not anything else and you absolutely The last resort is to go into things that super now remember I would go to your bank and stuff first if you’ve got loan payments odeabank go to your non Bank lender and say I’m in hardship can you please wave thanks again and I’ll probably ask for proof the last the bank statements and stuff like that for the Sandown letter from your employer if you’ve got one go to the bank and say I can’t make my payments ok please do that
1:06:20
do not go for your super unless you really need really have to see you’re allowed to claim $10,000 this quarter and $10,000 sorry 10000s financial year and 10000 next financial year allowed to but I strongly suggest not doing it because what you were doing if you’re super also with $50,000 but it’s dropped his 30th because of the market volatility and you take out $10,000 will you had 5830 that you’ve only got 20. 20 to get back up so yes you’ve taken 10000 out but the 20 is not going to go up as quickly as 30 would have done ok so I used to work in financial markets and do the applied finance and all that so don’t know about that please only do super as a last resort go to your Banks go to the people that you’re paying money to go to that your landlord’s so if your commercial particularly go to your landlord and ask for a reprieve bearing in mind that the silver coming out on Friday if you can otherwise ask them in approach them now I know some people have already done this and got a month rent release because the next time it was due to get a relief for this month and then see what’s happening in the payouts ok
1:07:40
Warning you I think is many businesses here that would go down the insolvency route but if you do if you’re not be wary of people that are so you might extend credit to a business and thing ok I’m gonna do the right thing and give them some credit because they’re going through a tough time but under this environment this is actively are allowed to trade while and solve it effectively that means they should have shark shop directors would have been in trouble and normal situation of trading insolvent they are not they are given a Lifeline for this but that potentially has a following effects other since it’s so please be careful when dealing with other businesses to make sure that you’re not gonna be caught out by them not being able to pay later down the track so just be careful make sure you’re keeping on top of your invoicing
1:08:35
doing all that for this is an for personal people reduce your expenses look at what you think I was speaking to someone today and I said I’ll gopaper still feel like over 80 or $100 on this phone bills and she thought yeah we to go for a couple hundred dollars for the two of us or whatever review that their plans at our way way way cheaper I paid $25 a month and get a bigger data unlimited calls unlimited calls to 15 countries like why would I be paying $80 and I can pay 25 so just make sure that you have produced things like that consider do you still need Foxtel for now you can get it back later but if you’re hard-done-by may be cut the Foxtel so look at ways you can reduce your income you can approach your power company so if you can get your discount increased see if you can get a change of rate with the power company now that maybe something that comes out for the government as well but at the moment it has it so the moment just go and ask yourself I approached my park up the last year just because I was doing a chick and I found I could get dodo to go from a 15% discount to 30 it was a really good saving you can do to save money if you think about it
1:09:55 so instant asset write-off that has been increased so up to $150,000 you can write off that asset this year there’s also other ones for business investment which I’m not going to go into because I really don’t think many people have multiplied Marcus just said we’re not cutting Foxtel cause he’s watching it in the other room so hopefully that has it giving you guys a bit of an understanding of what is going on so in summary be kind and look out for one another support people as a lot of you guys are doing that god there’s some jerks out there that I’ve been really nasty I’m so behind be tolerant remember people that are going through the grief cycle if there’s any questions I haven’t answered answer yet can you just put them back in and I will try and answer them Mark and give them to me but otherwise yeah so thanks it’s still changing remember that this last payment still has to be the last package still has to be ratified still has to go through parliament when it goes through parliament and may be changed slightly but for all intents and purposes it should be largely the same but some of the queries maybe address things like I’ve seen a few people are things like you know like they figaro’s in the business in the last year and whether that’s going to be taken into account can there be a different measure to measure whether or not the covert has affected the business so hopefully guys that’s helped you out if there’s anything else I can do for you just let me know remember to take advantage of the other services available for instance I know some of you know that I’m a business connect advisor part-time so you know you can reach out and that program and get things looked at so please do so sorry I got a little bit family only had 2 hours sleep last night as I tend to do so I had a little bit more prepared but today just ended up help that’s like that’s what we’re going at the moment and Hayley I have work to do and things so that’s something so guys remember job keeper over job seeker but you have to have it 30% loss and business turnover to be able to claim it so just please guys yeah look out for what’s you know what you can do and your business to reduce expenses and obviously there’s a whole stuff about looking for waste and evasion and do things differently and I know a number if you were trying that looking at different target markets and I was speaking to someone today and there was definitely a target market opportunity she could take advantage of without taking advantage of and I will just wrap up on that I’ve seen some businesses that have been afraid to market their businesses at this time please don’t please still be visible please still be up there are still people buying still crazy people buying houses there are still buying ok so people still need to know your service exist because they may have a need for it and if you don’t let them know you’re still out there they can assume that you’re not so please still keep out there keep marketing keep your messages going but watch what you mark it
1:13:00
I’ve seen a couple of really irresponsible TV and and and radio ads which I should I prebook this what’s the weather in the ads run and one of them talked about destination wedding and Fiji really annoying everyone cancelled and everybody everybody that you thinking about the make sure you check them and make sure they’re still relevant for the current market where it is ok to sell but you may want it always if you have your reinventing and
1:13:35
you’re looking like to up taking advantage of the situation because you’re the targeting people affected like I kind of an here then make sure you’re at the front with people about the fact that you are also a small business owner your business is affected like everyone else is and all you’re trying to do is reinvent yourself so that you can keep yourself pain and keep yourself off the job line and keep yourself safe and the community safe if you pass on those messages to people honestly people will be more accepted it’s when you are deliberately taking a bunch of people and being a jerk yeah those people but I know the people on here most of the people on yeah I know you’re not that type of people so look out for each other and thanks for getting on today I know but ramly a bit crappy but like I said not enough sleep is going to do that so I’ll catch you guys later and I will look at doing probably a proper webinar and things and a little bit and I also will networking will get some online networking going and we’ll figure that a few different locations as well so I look forward to catching up with you and one shuffle form remember too that we are socially we are physically distant thing but we need to keep connected socially so I will see you later
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