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

24/7/20 ICB Technical Webinar JobKeeper 2.0 & Response Friday 24 th July 2020 1.00pm Start 1 Housekeeping § 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 2 1

24/7/20 Changing Audio § Changing audio options § Select ‘computer’ or is available by selecting ‘phone call’ audio option next to the microphone as you sign in § Select audio options to change from computer to phone 3 Housekeeping § At stages during the presentation we will stop for questions § You can ask questions during the presentation by using Q&A the Q&A facility (PLEASE DO NOT USE THE CHAT for questions) Chat § We might unable to interact with participants verbally § Today we may will not be using the ‘raise hand’ option Raise Hand § We would still like you to type questions so we can record for our Q&A email 4 2

24/7/20 Your Presenters Leanne Berry Matthew Addison Technical Resources Executive Director and Support 5 Today JobKeeper 2.0 - Explained - Dear Client - Action Plan Strategy for Business – the next 90 days - ICB Plan 6 3

24/7/20 7 JK 2.0 Explained 8 4

24/7/20 Dear Client 9 Decline in Turnover 10 5

24/7/20 Strategy with Business § https://www.icb.org.au/Resources/Business- Matters/COVID-19/COVID-19-strategy-and-status 11 12 6

24/7/20 Business Assessment Template 13 What work force do we need § Following the re-imagining of business § What workforce do you need? § What do we do about those we don’t need? 14 7

24/7/20 Thinking Cashflow Analysis 15 An approach to think § 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 16 8

24/7/20 Sample 17 Use Projection Tools § Calxa § QBO Cashflow Planner § Xero Widget § MYOB Advisor § Reckon § Etc § Suggestions? 18 9

24/7/20 Treasurer § 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. 19 Loan Scheme extended 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/ 20 10

24/7/20 21 Working with COSBOA for a rebuild plan 22 11

24/7/20 Working with COSBOA for a rebuild plan 23 Working with COSBOA for Rebuild plan 24 12

24/7/20 Yourself § 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 25 JK Fortnights § 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 26 13

24/7/20 SGC Amnesty Amnesty concludes 7 th 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 27 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 28 14

24/7/20 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 29 We Appreciate Your Feedback Email: webinar@icb.org.au 30 15

24/7/20 Thank You 31 16