The government has smashed the piggy bank and opened the cheque book.
In today’s episode we discuss the Federal governments stimulus packages and how they might be relevant to doctors and their families.
Disclaimer: This podcast is not financial advice and all opinions expressed by podcast participants are solely their own. Please seek professional advice before making any financial or investment decision.
Show Notes
The corona crisis continues to wreak havoc in all aspects of life. Businesses are closing, millions have lost their jobs and the numbers of COVID 19 positive cases is still on the rise.
Medicine has always been thought of as a stable profession through all economic cycles but with social distancing and the cancellation of elective surgery many practices and practitioners are now struggling to stay afloat.
The Government has signalled their commitment to keep business afloat and prevent job losses.
They’ve already announced measures worth over $200 billion.
Today my guests are John Manning and Kathy Allen from Dewings Accounting and Consulting. They have numerous doctors as clients and today they’ll unpack the new Federal Government’s stimulus packages.
First, we’ll explore the business and general initiatives. In the second part we have 2 case studies to discuss how practices and sole traders can access these initiatives.
Initiatives for Business (4:47)
-JobKeeper payment and wages subsidy (5:01)
-increased asset write-off, backing business investment (10:39)
-SME guarantee scheme (14:48)
-early access to superannuation (17:30)
-JobSeeker payment for sole traders (19:45)
-boosting cashflow for employers (20:25)
-PAYG instalment (22:26)
timulus payments (25:54)
-spouse means test increase job seeker allowance means tested (26:15)
-moratorium on evictions/ free childcare/ rent relief code of conduct (26:45)
Case Studies (29:05)
Case study 1 (29:25)
Relevant to practice owners who run a practice with admin staff and other practitioners.
Case Study 2 (32:40)
Relevant to Sole traders
Other (34:26)
Today’s Guests
Kathy Allen
John Manning
Company
Dewings Accounting & Consulting
Phone: (08) 8291 7900
Fax: (08) 8291 7999 (24hrs)
Email: enquiries@dewings.com.au
Useful Links
Coronavirus Support for Businesses
JobKeeper Payment
JobSeeker Payment
ACMA (SA)
https://acma-sa.com.au
Episode is Live
Published: Apr. 03, 2020 @ 6PM EditUnpublish
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