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