• Join ccmfans.net

    ccmfans.net is the Central Coast Mariners fan community, and was formed in 2004, so basically the beginning of time for the Mariners. Things have changed a lot over the years, but one thing has remained constant and that is our love of the Mariners. People come and go, some like to post a lot and others just like to read. It's up to you how you participate in the community!

    If you want to get rid of this message, simply click on Join Now or head over to https://www.ccmfans.net/community/register/ to join the community! It only takes a few minutes, and joining will let you post your thoughts and opinions on all things Mariners, Football, and whatever else pops into your mind. If posting is not your thing, you can interact in other ways, including voting on polls, and unlock options only available to community members.

    ccmfans.net is not only for Mariners fans either. Most of us are bonded by our support for the Mariners, but if you are a fan of another club (except the Scum, come on, we need some standards), feel free to join and get into some banter.

ATO LInks

midfielder

Well-Known Member
This is an excellent links page to many services and help provided by government.

https://www.ato.gov.au/Individuals/Dealing-with-disasters/In-detail/Specific-disasters/COVID-19/



Lots of ATO links here.

See also:

We are administering the following new government measures:

Find out about:

 
  • Like
Reactions: adz

FFC Mariner

Well-Known Member
Don't access your super unless you absolutely have to. 20k will likely cost you around 130k in the long term.

Unless a couple wanted to stash $40k away to start a house deposit or pay a chunk off their mortgage. I havent bothered to calculate the FV but I reckon $40k at 4% over 20+ years is better when you consider that it is a tax free return. Tax in Super is 15% so that effective rate of return is now 4.7% gross.

Interest rates may well rise a fair bit to pay back all this debt too. Makes it an even more attractive strategy.

Provided you keep your payments the same and never spend the extra equity
 

Big Al

Well-Known Member
The problem is the government is talking in fornightly payments but only paying the employer a month in arrears.
apart from the fact there are 13 fornights in 6 months and not 12 that it appears the government hasn’t accounted for properly
How are these businesses with no income suppose to pay upfront for these staff when most small businesses have been forced to close and if you have dropped 30% you won’t have money to pay these wages.
Scomo say get a loan. Yeah good one. They just will simply not take up the scheme as this will scare them off. The only benefit for employers is to hold key staff (just rered if you are stood down they have to pay the $1,500 as they haven’t been dismissed. So can’t pick and choose employees as i read it)
yes we have to wait for details but there is a few holes in the announcements on thetreasurey website.
1 fact sheet says super is not payable or optional on excess yet the employers fact sheet uses an example of an employee getting $3k and says super must be paid.
My interpretation is no super if they are stood down on jobkeeper vs someone who keeps working and the employers are reimbursed but it is not clear at all

i hope it works because I actually believe it’s a good initiative just needs to be a bit better planned
 
Last edited:

FFC Mariner

Well-Known Member
If a business pays the $1,500 to a employee as ordinary wages, super is legally required to be paid
Whether out of the $1,500 or on top will depend on individual employment conditions.
I don't know if they can waive this or not? Maybe they can
 

Big Al

Well-Known Member
If a business pays the $1,500 to a employee as ordinary wages, super is legally required to be paid
Whether out of the $1,500 or on top will depend on individual employment conditions.
I don't know if they can waive this or not? Maybe they can
Yeah that’s my reading if you earn ordinary time earnings super is payable and the payment is a subsidy to the employers and it not working there is no ordinary time earnings therefore no super
 

FFC Mariner

Well-Known Member
The government is also paying 50% of apprentices wages (up to a limit) for firms with <20 empoyees. The govenrments wage calculator is silent on super and it looks like its been missed.
I'd say SG is payable on any ordinary time wages paid to staff and that the ATO will expect it
 

Online statistics

Members online
4
Guests online
147
Total visitors
151

ccmfans.net merch

For more info or questions about the merch, check out this post

Latest posts

Forum statistics

Threads
6,312
Messages
302,711
Members
2,333
Latest member
Unistudent500
Top