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23.01.2022 Another day of government stimulus announcements. One of them is so complicated it hurts my soul, and I'll do up some information on that once I've disentangled it. For now, the easy announcement - the Centrelink partner income threshold has increased from $48,000 to $79,000. Anyone who was looking at Centrelink last week and was ineligible because of partner income - look again.

18.01.2022 Since creating this video, some more specific information has come to light, which is easier to describe via text (below). THE BASICS: Eligible employers will receive $1,500/fortnight for each eligible employee.... All eligible employees will receive at least $1,500 (before tax) per fortnight. First payments to employers will occur in early May, but employers expected to make payments to employees before then if possible. Eligible employers are those who are not big banks, and declare that they have or will have a 30%+ drop in income compared to same period last year (if turnover is more than $1billion, the drop must be 50% - this is relevant for those of you who are employees of big corporations). Eligible employees are full time, part time and 12+ month engaged casuals, as well as sole traders (more on that later). Employees must be Australian Citizens, permanent residents, or holders of various special category visas INCLUDING THE 444 VISA WHICH COVERS MANY NEW ZEALANDERS. Employers and sole traders can register their interest on ato.gov.au THE DETAILS: Sole traders will receive monthly payments, and will be required to lodge monthly updates about their business income/turnover. Employees on a Visa or people with multiple employers will need to communicate with them to confirm their eligibility and claim details. People currently receiving JobSeeker payments will need to update Services Australia about their new income (presumably once the payments flow through from employers, or from early May if payments are not paid until then). If you have been stood down on or after 1 March, and your employer opts into this program, they must pay you a minimum of $1,500 (before tax) per fortnight. If your salary is higher than $1,500 per fortnight, and your employer has opted into this program, they are required to continue paying you your full salary. If your ordinary wage is lower than $1,500 per fortnight and your employer has opted in, they are required to pay you the full $1,500 (before tax) per fortnight. THE SUMMARY: Overall this looks like it will catch a lot of people who were previously only caught by the JobSeeker payments (the updated Centrelink payments). If you're a full time or part time employee who has had your hours reduced or been stood down, contact your employer to ask if they are eligible for this payment (based on the 30% reduction in turnover test). If you're a casual employee of more than 12 months service with the same business, contact your employer per above. If you're a short-term casual, your best bet is the JobSeeker payment through Centrelink. If you're a sole trader whose income has dropped by at least 30% compared to a similar period last year, visit ato.gov.au and register your interest, or contact me if you have any questions. If you're an employing business whose turnover has dropped by at least 30%, register your interest at ato.gov.au or contact me if you have any questions.

12.01.2022 This one may be the most important video - Expanded access to Centrelink: A guide to surviving the covid-19 pandemic Are you an Australian sole trader or worker who has been gravely impacted by the Covid-19 pandemic, aka little to no income? Check out my guide on the expanded access to Centrelink payments, including payment rates, eligibility and more. https://blueribbonaccounting.com.au//access-to-centrelink-

11.01.2022 My friends and colleague Kat from Tick Tax in Adelaide has written this great set of starting steps to access Centrelink.

06.01.2022 This morning I am doing/have done a bunch of professional reading to get a more detailed understanding of the various support measures - some of which are more wide reaching than I believed or expected them to be. I'll be trying to contact as many of my clients as possible over the next week or two, but I'm only as accurate as my memory, database and brain-power (which is predominantly buzzing with new information and doesn't have a huge amount of spare capacity). If you're a...n existing client of mine and you're in need of assistance, or even if you simply want to know if you're eligible for assistance, please reach out. I'll give you the main litmus test that will apply to the main stimulus - you need to demonstrate a 30% reduction in income over a one month period, compared to a comparable period (same time last year is preferred, but other periods can be used in extenuating circumstances). This 30% reduction can be demonstrated now, or at any point in the next few months - so if your March income was okay, but April looks terrible, we can start to lodge claims for April. Stay in touch.

Blue Ribbon Accounting | Businesses