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Principal: Jonathan Hooper

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JobKeeper Payments

JobKeeper Payments Legislation to Pass Parliament on Wednesday

Sunday 5th April

On Sunday Christian Porter, the Federal Attorney General, gave a commitment to Australian businesses that "the JobKeeper Payment legislation would pass parliament on Wednesday, no matter how late the parliament needs to sit to get the bill passed".

"This is one of the most important drafting exercises post WW2, with $130 billion of economy and job saving expenditure to be passed. Five hundred thousand businesses have already applied for the payments and the application process will rely on self-assessment, and a high level of honesty is expected". he said

Porter also explained that "11,000 enterprise agreements would require adjustment for the JobKeeper Payment to be implemented". To facilitate this the government is working closely with the ACTU to pass temporary changes to Employee and Industrial relations law, to ensure businesses can pass on the payments without breaching existing legislation around the Fair Work Act. "Any changes to IR laws will be subject to a six-month expiry date", he said which could only be changed in future with parliament's backing.

Union Concerns

Unions have expressed concerns that some employers may try to take advantage of the JobKeeper Payments by directing workers to run down their existing leave entitlements in order to get them. Labour raised similar concerns last week, saying if employees were forced to exhaust their leave entitlements to get the payments, the fortnightly subsidy may be transformed from a "wage subsidy" for employees into a "balance sheet subsidy" for employers.

Porter acknowledged these concerns and said he would share drafts of the legislation with the ACTU and work through the details "in a cooperative, open, frank and honest way". But he also acknowledged that "In some very distressed businesses, "it may well be that they need to close or pay the $1500 only." He did however give assurances that if any employer did something wrong Fair Work penalties would apply.

Porter stressed that the government hoped employers and employees would do the right thing by each other and said that within individual businesses there should be discussions about the way the payments were going to be implemented "with common sense, consultation and representation".

At the end of the day, individual employees and employers would do well to remember the intention of the governments package, which is to be "as reasonable, inclusive and fair as possible" and to work together to ensure that when the social lockdown provisions are lifted, people have a business and a job to go back to.

Cash Flow Boost

Understanding Government Initiatives to Mitigate the COVID-19 Economic Downturn

Cash Flow Boost Initiative

Legislation in relation to the Governments stimulus package has now passed through parliament, so there is more clarity around how the measures announced are being implemented.

Below is a summary on the measures for business and individuals.

Read more…

State Government Initiatives

COVID-19 State Government Stimulus and support issues available to Small Business

State governments have announced a series of measures in to help small and medium sized businesses stay solvent and to keep their staff employed, during the COVID-19 economic downturn.

What follows is a summary of the various assistance measures announced by State Governments Australia wide.

Recurring themes included payroll tax waivers and deferral, waivers of licence fees, rental relief for commercial businesses renting state properties and various concessions on land tax, plus investment in local projects to keep contractors in business and tradies in working.

Another trend is interest-free loans, reductions in payment times for small businesses fulfilling government contracts and advice and mentoring services.

Read more…

We hope the site provides you some useful information about us and the services we offer. 

We would like to extend a big thank you to the Wolters Kluwer team in Christchurch New Zealand for their untiring and professional work in developing the site.

In particular, a big thank you to Stacey Cooper who has provided great patience, support and guidance. 

Another big thanks to Dr. Gusius Gus who took the time away an enormously busy schedule to assist with the marketing and design of our accounting practice, your efforts are much appreciated. 

Finally, a massive thank you to all our valued clients and staff. Without your continued support the success of this practice would not be possible.

CA simplefund MC cashflow
CA simplefund MC cashflow