JobKeeper 2.0 & Response Friday 24 th July 2020 1.00pm Start - - PDF document

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JobKeeper 2.0 & Response

ICB Technical Webinar Friday 24th July 2020 1.00pm Start

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§ If you’re unable to hear, check your PC/Mac speakers § Sound will run through your computer speakers § During the presentation you will be muted to avoid background noise

Housekeeping

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Changing Audio

§ Select ‘computer’ or ‘phone call’ audio option as you sign in § Changing audio options is available by selecting next to the microphone § Select audio options to change from computer to phone 3

§ At stages during the presentation we will stop for questions § You can ask questions during the presentation by using the Q&A facility (PLEASE DO NOT USE THE CHAT for questions) § We might unable to interact with participants verbally § Today we may will not be using the ‘raise hand’ option § We would still like you to type questions so we can record for our Q&A email

Housekeeping

Q&A Chat Raise Hand

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Your Presenters

Matthew Addison Executive Director Leanne Berry Technical Resources and Support 5

JobKeeper 2.0

• Explained
• Dear Client
• Action Plan

Strategy for Business – the next 90 days

• ICB Plan

Today

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JK 2.0 Explained

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Dear Client

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Decline in Turnover

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24/7/20 6 § https://www.icb.org.au/Resources/Business- Matters/COVID-19/COVID-19-strategy-and-status

Strategy with Business

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Business Assessment Template

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§ Following the re-imagining of business § What workforce do you need? § What do we do about those we don’t need?

What work force do we need

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Thinking Cashflow Analysis

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§ Sample Spreadsheet – Monthly P&L § Last year § Duplicate – what for next year § Look at Balance sheet items § Look at debt recovery § If not comfortable – work with others

An approach to think

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Sample

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§ Calxa § QBO Cashflow Planner § Xero Widget § MYOB Advisor § Reckon § Etc § Suggestions?

Use Projection Tools

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24/7/20 10 § About 960,000 businesses are currently enrolled in the JobKeeper program, covering about 3.5 million

• workers. This number is expected to decrease

substantially once new eligibility tests are applied. § Treasury predicts 1.4 million people will be eligible for the payments in the December quarter and 1 million for the March quarter. § About 175,000 workers are expected to be on the $750 payment over the December quarter, reducing to 125,000 on the $650 payment from January 3 to March 28, 2021.

Treasurer

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§ 15,600 businesses have one = $1.5b § Extended until 30 June 2021 § Terms changed – wider § Not property § Max of $1m (was $250k) § Up to 5 years (was 3) § Allows repayment holidays § Maybe now maybe from 1 October § https://www.ausbanking.org.au/sme-loan-guarantee- phase-two-a-welcome-extension/

Loan Scheme extended

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Working with COSBOA for a rebuild plan

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Working with COSBOA for a rebuild plan

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Working with COSBOA for Rebuild plan

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24/7/20 13 § JobKeeper & JobSeeker § (Not for client advice as out of scope) JobSeeker § Not if fail asset test § Not if partner earns more than $80k § Seek work – one per week § Part time JK may also get $554 JS § Full time JK may get $284 JS Treasury expects 245k on both by December

Yourself

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§ August is 3 Fortnights § Monthly Pays need to be considered § ATO has allowed it to apportion over the entire JK period at $3,250 § Otherwise $4,500 required for August

JK Fortnights

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24/7/20 14 § Amnesty concludes 7th September § https://www.icb.org.au/Resources/Payroll/Superannu ation-Guarantee/sg-amnesty § Lodge the forms and enter a payment plan § Very little discretion if no forms lodged

SGC Amnesty

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Your Information

www.icb.org.au/covid-19 www.icb.org.au/covid-19/COVID-19-strategy-and-status www.icb.org.au/covid-19/jobkeeper

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Next Webinar Schedule

Thursday 9th July - Recap and thinking strategy and cashflow Friday 24th July - an early look at what the JK review said and what it is going to do to us Wednesday 29th July - (Subject to Government) - What did the Review do to us Friday 7th August - Preparing Business to work theeir way out of COVID-19 after JK ends Friday 21st August - COVID-19 Update and What now as of 21August Friday 4th September - COVID-19 Update and What now as of 4 September Friday 18 September - COVID-19 Update and What now as of 18 September Friday 2 October - COVID-19 Update and What now as of 2 October

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We Appreciate Your Feedback

Email: webinar@icb.org.au

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Thank You

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