Hi everyone,
I am sure many of you (including myself) are self employed and currently trying to stay afloat.
The latest gov Cash flow assistance for businesses has a lot of question marks attached to it.
What is an eligible business for instance.
I thought we can start a discussion here and pool our knowledge together.
Stat safe
Sole trader can get the 500(soemthing) payment.
Can't remember the specifics, mind is jumbled up atm
Expanded access: Jobseeker Payment and Youth Allowance Jobseeker criteria will provide payment access for permanent employees who are stood down or lose their employment. The expanded eligibility applies to:
-sole traders
-the self‑employed
-casual workers
-contract workers who meet the income tests as a result of the economic downturn due to the Coronavirus. This could also include a person required to care for someone who is affected by the Coronavirus.
https://www.business.gov.au/risk-management/emergency-manage…
and
https://www.servicesaustralia.gov.au/individuals/news/more-f…
I am also a sole trader and think my workload will drop off a bit too. If you earn under $1100 per fortnight (I think, same as what you get from government payment) you are eligible for the payment. I think they are waiving all the other criteria and obviously don't need to apply for jobs given the current state of things. Might be worth applying, I will look into this.
Received an email from my accountant about this. 20k is a nice big bonus.
Some good info here - summarised with examples in the fact sheets
My understanding is that most of the benefits are for those businesses that hire staff and pay salary. As a sole trader, I do neither; so am not eligible for any of the packages that have been announced.