The next Great Scam starts NOW!

[basilio]

This is it. Forget Pink Batts or any other other past rort.
The ScoMo government has opened the taps on what will be one of the most effective rorts ever created.

The Job Keeper program seems to offer "businesses" the opportunity to pull $750 a week per nominal employee on the basis that said employee gets that money and stays "employed".

If the normal run of the mill business sociopath can't drive a semi trailer through that opportunity and come out with a truck load of money.... they just ain't trying.

I understand this is the proposal. Watch it fly off the table. I really want to see the checks and balances on this deal..

Workers earning UNDER $1,500 previously will get pay rise
If you are are a worker who has earned less than $1,500 a fortnight, you are about to get a pay rise (if you are an eligible worker):

• If you ordinarily receive $1,500 or more in income per fortnight before tax, you will continue to receive your regular income according to the prevailing workplace arrangements. The JobKeeper payments will subsidise part or all of your income.

• If you ordinarily receive less than $1,500 in income per fortnight before tax, your employer must pay you, at a minimum, $1,500 per fortnight, before tax.

• If you have been stood down, your employer must pay you, at a minimum, $1,500 per fortnight, before tax.

• If you were employed on 1 March 2020, subsequently ceased employment and then were re-engaged by the same eligible employer, you will receive, at a minimum, $1,500 per fortnight, before tax.

https://www.theguardian.com/austral...gatherings-cruise-lockdown-app-latest-updates

 

[PZ.]

I think the author has overlooked that it's a wage subsidy up to $1,500 a fortnight.

The tax dept would know how much you're entitled to.

 

[basilio]

I think the author has overlooked that it's a wage subsidy up to $1,500 a fortnight.

The tax dept would know how much you're entitled to.

It seems that regardless of what you were paid you will get the money

Payment process Eligible employers will be paid $1,500 per fortnight per eligible employee . Eligible employees will receive, at a minimum,$1,500 per fortnight, before tax, and employers are able to top-up the payment.

Where employers participate in the scheme, their employees will receive this payment as follows.•

If an employee ordinarily receives$1,500 or more in income per fortnight before tax, they will continue to receive their regular income according to theirprevailing workplace arrangements. The JobKeeper Payment will assist their employer to continue operating by subsidising all or part of the income of their employee(s).
•
If an employee ordinarily receives less than $1,500 in income per fortnight before tax,their employer must pay their employee, at a minimum,$1,500 per fortnight, before tax.
•If an employee has been stood down, their employer must pay their employee,at a minimum,$1,500 per fortnight, before tax

More information about the Government proposal to underpin wages and business income.

https://treasury.gov.au/sites/default/files/2020-03/Fact_sheet_supporting_businesses_1.pdf
https://treasury.gov.au/sites/default/files/2020-03/Fact_sheet_Info_for_Employers_0.pdf
https://treasury.gov.au/sites/default/files/2020-03/Fact_sheet_Info_for_Employees_0.pdf

 

[PZ.]

Well I'm happy to stand corrected if I'm wrong but that takes the giovt spending to $320b.

We're doomed.

 

[basilio]

Could we consider just an average small Sole Trader Business. ? It could be a small family restaurant with Mum and Dad working as Traders and a couple of kids working shifts.
Restaurant closes down and the four of them receive $3000 a week .. And the place is closed !

Consider any number of small sole traders. They almost always have at least two registered employees if only for income splitting. That's $1500 a week clear. For many sole traders that is a decent whack.

 

[satanoperca]

Could we consider just an average small Sole Trader Business. ? It could be a small family restaurant with Mum and Dad working as Traders and a couple of kids working shifts.
Restaurant closes down and the four of them receive $3000 a week .. And the place is closed !

Consider any number of small sole traders. They almost always have at least two registered employees if only for income splitting. That's $1500 a week clear. For many sole traders that is a decent whack.

A wise person once said to me (20 years ago) that you can say whatever you want, you can sell $$$$$, but it only matters when the money is in your hand (not in the bank).

Lets see how many people can get the money? Very few, pipe dreams

 

[Dona Ferentes]

I think the author has overlooked that it's a wage subsidy up to $1,500 a fortnight.

The tax dept would know how much you're entitled to.

and only if your company has had a 30% drop of turnover (I think) (looking for it)

 

[Dona Ferentes]

WHO IS ELIGIBLE?

Businesses

● Small and medium businesses that suffer a 30 per cent fall in turnover since March 1.
● Larger businesses (more than $1bn turnover) that suffer a 50 per cent fall since March 1.
● Businesses will self-assess their fall in turnover over a minimum one-month period.
● Businesses that receive the major bank levy are not eligible.

Employees

Any employee who has been on a company’s books since March 1 including:
● Full-time workers
● Part-time workers
● Casuals who have served 12 months or more
● Category 444 visa holders from New Zealand

If you were laid off, call your employer to discuss whether they are applying for the subsidies. They will still be eligible to re-employ you and get the subsidy if you were on the books on March 1.

If you get a JobKeeper subsidy, you will not get a Jobseeker welfare payment.

HOW WILL IT WORK?

● Businesses can pass the subsidies to employees from now.
● Companies will be reimbursed by the Australian Taxation Office from the first week of May.
● The ATO will hand out the subsidies through monthly arrears.
● Employers can apply for JobKeeper subsidies online now at https://www.ato.gov.au/general/gen/JobKeeper-payment/

● The ATO will also ensure the subsidies get to workers, and they are not abused by employers

 

[basilio]

● The ATO will also ensure the subsidies get to workers, and they are not abused by employers

Maybe.. maybe not.
I remember how 7/11 employees were forced by bosses to hand back half of their wages . The books said one thing reality was different.

As far as the ATO having the capacity to somehow oversee the distribution of say 6,000,000 wage subsidies and mark sure its all done correctly ? Seriously ?

What would I would be interested in is hat sanctions will be proposed for scammers who abuse the system and how will it be policed and enforced. We already have multiple Phoenix companies that hit and run.

 

[Dona Ferentes]

Noise, bas. That's all.

The signal is. .. not repeating the mistakes of the '30s, keeping a functioning economy. Allowing for a quicker reset. Not allowing for things to spiral out of control.

it will cost us, down the track. taxes will be higher.

 

[moXJO]

YAY!!!
FREE MONEY!!!


(paid back at a later date, followed with drop in living standards)

 

[Humid]

It could have several unintended consequences. It might encourage firms to limit sales to push revenue down below the turnover threshold.

 

[moXJO]

There will be scams for sure. There always is.

 

[basilio]

I was not against Job Keeper in any way. I thought it was a bold move to directly ensure workers stayed solvent and businesses viable while the COVID crisis closed down whole swathes of economic activity.

But it was also certain, IMV, that it was would be open to rorting. The question will be Who should go to jail for fraud ?

'Client is in jail' among red flags in thousands of JobKeeper claims under scrutiny

Dodgy employers have applied to receive $1,500-a-fortnight JobKeeper payments for jailed criminals, people living outside Australia and even the dead.

www.abc.net.au

 

[Smurf1976]

This is it. Forget Pink Batts or any other other past rort.

The big problem with Pink Batts is that I didn't get any.

House I had at the time already insulated.

House I'm in now the then owners didn't take advantage of the scheme so it was insulated at my cost.

Lost out x 2.