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purpleduck

$130 billion dollar economic package

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purpleduck
:omg:
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caitiri

I know right

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caitiri

I think everyone’s speechless or signing up to claim

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YumChaTheSecond
Posted (edited)

Sounds pretty major!

 

I don't know enough about it, but I sort of wonder if having access to these government funds is almost an incentive for even more businesses to stand down their employees and reduce their operating costs at this time.

 

ETA: Just read a bit more and it sounds like there are thresholds about reduction in turnover that employers have to be able to meet. Will this mean the above is all ok, or just result in creative accounting, I wonder?

Edited by YumChaTheSecond

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-Emissary-

I wonder how they will administer this. It sounds like a complete nightmare and wonder if they are going to get the systems in place fast enough to process the claims

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purpleduck

From what I can see the criteria includes 12months employment as at 1st March, full time, part time and casual employment and currently stood down?

 

And it’s a flat $1500 per employee per fortnight. Administered by the ATO so possibly looking at payroll records etc?

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nom_de_plume

I'm guessing that from the talk about reduction in turnover etc as a public sector employee I won't be eligible.

 

I almost got excited for a minute there!

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maurie

Companies have to have lost 30% (or 50% for earning over a larger amount, didn't catch how much) of their income to access it.

 

Companies pay staff $1500 a fortnight, it is refunded to Company by Tax Dept.

 

$1500 for everyone, regardless of how much you earned prior, if you are casual have to have worked for 12 months.

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JRA
Companies have to have lost 30% (or 50% for earning over a larger amount, didn't catch how much) of their income to access it.

 

Yep, will be interesting to see how they judge that

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SummerStar
Posted (edited)

Edited by SummerStar
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born.a.girl

Yep, will be interesting to see how they judge that

 

 

I've read 'turnover', which is a bit harder to fiddle than 'income'.

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born.a.girl
Posted (edited)

This is how it should have been paid to employees stood down from the start. It should never have been through centrelink. Those payments should have remained the same for those on them already and the payment to keep employees paid during this time should have gone through the employer like the maternity leave payment. Makes more sense.

 

I do think it should have been up to $1500 though, not a flat rate. Because for those on less it will be a hard thing to go from doing nothing and paid $1500 to going back to work and paid less if they are on less usually. Would be better to make it your normal pay or up to a cap of $1500.

 

 

I agree, but I think the problem with that is, that those on jobseeker are going to be getting $1100 a fortnight come 27th April. People are effectively getting $400 a fortnight more to turn up to work (provided it's there, of course).

 

The jobkeeper allowance is due to finish the same time as the jobseeker caronavirus supplement, so even if your income drops from the $1500, at the same time those on jobseeker will see theirs drop to $550.

 

You couldn't have them turning up for work getting less than those on jobseeker.

 

E: typo

Edited by born.a.girl

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surprisebaby

As an employer still allowed to operate but for how long? (construction) this is great news. We can keep our staff. It will all be tightly monitored by the existing payroll reporting system I would assume. It is highly likely our turnover will drop considerably even if we can keep going as new jobs are not handed out. So this helps with that too.

I might actually sleep tonight.

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Tinkle Splashes

From what I can see the criteria includes 12months employment as at 1st March, full time, part time and casual employment and currently stood down?

 

And it’s a flat $1500 per employee per fortnight. Administered by the ATO so possibly looking at payroll records etc?

 

I think the 12 month criteria only applies to casuals, although this isn’t entirely clear.

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lizzzard

I don't think individuals are getting paid this money directly - it's basically being paid to employers so they can keep paying their staff....

 

It's definitely a relief to me as an employer and will reduce the likelihood of having to let people go.

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born.a.girl

I think the 12 month criteria only applies to casuals, although this isn’t entirely clear.

 

 

I listened to it, and casuals were specifically mentioned well after full time and part time, and it was only then, that he mentioned the criteria for casuals in particular, given the obvious difficulty there.

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#notallcats

So the business keeps paying the employee $750/week until May when they will be refunded. Employees who lost their on 2nd March back paid by employer now?

 

I can't see how many small business could cover this. For example, nail salons have been shut down. No income. How can they continue to pay their employees?

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#notallcats

Casuals have to be employed 12 mths or more. Everyone had to be on the books as of March 1st.

 

So someone working one day a week, earns say $200/week, and now going to be paid by the employer $750/week. Gov won't be paying it back to employer until May. How can they afford it now?

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Ozquoll

I'm sure this package will help some businesses survive, but I don't think anywhere near $130 billion will end up being paid out.

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WaitForMe

Sounds similar to paid parental leave, although the proof of a baby is much easier.

 

I'm hoping this gives enough relief to my childcare centre, which will not only help the staff there but mean I can stop paying fees.

 

Theres also a much loved local pub that has basically said they are permanently closed. Maybe this will give them hope of being able to open again.

 

Oh and my cleaners. Another local and loved company.

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born.a.girl
Posted (edited)

So the business keeps paying the employee $750/week until May when they will be refunded. Employees who lost their on 2nd March back paid by employer now?

 

I can't see how many small business could cover this. For example, nail salons have been shut down. No income. How can they continue to pay their employees?

 

 

EDIT: Looks like it does apply if you're closed - first information I read said that 'if your employer has any work at all for you ..' which was clearly a misunderstanding by the writer, wherever it was.

 

 

So ignore what follows.

____________________________

It doesn't apply if you're not working. Those people will be eligible for jobseeker, including the 100% supplement from 27th April, plus the $750.

 

 

It's for companies who have work for their employees to do, but don't have the cashflow to employ them, for all sorts of reasons.

 

E.g my physio, they're having to stagger appointments to give themselves time to disinfect every surface, door handles etc. In the meantime without sports their appointments are down.

 

The idea is to keep places operating, so when this is over, they can hit the ground running, but they do have to turn up, which you can't do if you've been ordered to close.

Edited by born.a.girl
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José

I'm hoping my DH will be eligible.

It will make such a difference to us.

I won't need to worry about how to pay the bills. I have everything crossed.

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-Emissary-

 

 

Yep, will be interesting to see how they judge that

 

I assume it’ll be based on annual or quarter BAS where you have to report your income.

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maurie

It doesn't apply if you're not working. Those people will be eligible for jobseeker, including the 100% supplement from 27th April, plus the $750.

 

 

It's for companies who have work for their employees to do, but don't have the cashflow to employ them, for all sorts of reasons.

 

E.g my physio, they're having to stagger appointments to give themselves time to disinfect every surface, door handles etc. In the meantime without sports their appointments are down.

 

The idea is to keep places operating, so when this is over, they can hit the ground running, but they do have to turn up, which you can't do if you've been ordered to close.

 

I thought it was to basically 'hold' your job, so that even though there is no work to be done now, you will have a job to go back to when this is over. .So that companies can just start straight back up with their existing staff, not have to retrain a new workforce.

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#YKG

Is this similar to other countries that are paying people 80% of their wage that have been stood down? For example Myer closed voluntarily, technically they had work for employees but stood them down to close, would this be paid to them or only if the business remains open and trading?

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