Second stimulus package discussion

[crtsd]

http://www.pm.gov.au/media/Release/2009/media_release_0778.cfm

How will this "SUPPORT" my employees if I can no longer afford to keep them as staff?

OK, here's a bit of background... My company is a consultant in the engineering construction/mining industry. In the past 3 months we have seen a decline in quotes by about 60%. The work we have ongoing is slowly finishing and with nothing much coming through the door things are not looking good.

http://www.pm.gov.au/media/Release/2009/media_release_0782.cfm

Further the government is adding insult to injury with it's pathetic small business stimulus providing tax breaks for new computers and backhoes. Who in their right mind is going to go out and buy anything in this economic environment? Most employers in my industry i have talked to are all in the same boat, some say they are slow, others say they are desperate. One thing for sure is that no-one is looking at growing in the short term.

At the end of the day my employees get some cash but will probably lose their jobs because nothing the government has done today is going to help me get more work through the front door or reduce my running costs which are only going to get higher (thanks to environment policies).

just my

 

[nunthewiser]

ROFL. Dont upset the owner/operators on the thread nun.

apparently im part paying for prawns spending money on his trip overseas so hopefully he can grace me an odd joke while i sit here seething that i didnt get bugga all back from this package

 

[nunthewiser]

actually i got no probs with the students getting a break with a cupla extra bucks ... after all they the future of this country ........ buggared if i wanna insulate there houses tho

 

[GumbyLearner]

apparently im part paying for prawns spending money on his trip overseas so hopefully he can grace me an odd joke while i sit here seething that i didnt get bugga all back from this package

In the same boat here, Nun. But Im happy they are spending money on schools, at least (I HOPE!) it might nurture some more educated and open-minds for the future of our country.

 

[Nyden]

I cant quite figure the tax thing out either. I paid about 2k in taxes last FY but got a refund of $200 so where does that leave me?

Well, I believe you're entitled then. I would assume all individuals who paid enough tax as to cover the bonus will receive it. Of course, providing you don't earn in excess of 100k.

 

[numbercruncher]

Looks like im going to have to form a roof insulation company ....

Maybe even get some Gov sponsored workers ...

Arnt recessions great ?

 

[Nyden]

You were right Prospector, because it was logical - it was wrong

http://www.ato.gov.au/corporate/content.asp?doc=/content/00178930.htm&page=3&H3

Apparently if your liability was anything above nill last year ... you're entitled. Which is pretty bloody scary when you think about it! Pay $1 tax, and get 950 back, what an investment!

http://www.centrelink.gov.au/internet/internet.nsf/individuals/bonus_payments_feb2009.htm#training

More information on the Student payments, and other payments as well.

 

[GumbyLearner]

Looks like im going to have to form a roof insulation company ....

Maybe even get some Gov sponsored workers ...

Arnt recessions great ?

Should also be plenty of work for removalists, auctioneers, process servers and others once people lose jobs/homes etc..

 

[Prospector]

You were right Prospector, because it was logical - it was wrong
http://www.ato.gov.au/corporate/content.asp?doc=/content/00178930.htm&page=3&H3

:


Someone needs to tell Mr Rudd that small businesses are not spending anything so his wonderful way of helping small businesses is totally meaningless.

The Small Business and General Business Tax Break will mean;
A small business that buys and installs a $2,000 computer before the end of June 2009 can claim an additional $600 deduction in its 2008-09 tax return.
A business that buys and takes possession of a $60,000 backhoe by the end of June 2009 can claim an additional $18,000 deduction in its 2008-09 tax return.
Oh wait, dont most small businesses in the city need a backhoe? yeah, yeah, will put that on my list.

 

[pan]

So i'm starting uni, not getting youth allowance...

I get nothing???

 

[aleckara]

actually i got no probs with the students getting a break with a cupla extra bucks ... after all they the future of this country ........ buggared if i wanna insulate there houses tho

Ironically I don't have a problem with insulating houses. It may save a bit of electricity and more importantly just might stop a few big blackouts or two. While I think there is probably better ways to spend the money I think it is a good start.

Question of course I'm asking is how inflationary do you think this stimulus package will be. I'm personally going to save my $950 I'm receiving.

The students working who receive youth allowance as well must be laughing. For these people $1900 is a lot of money.

 

[Happy]

I would think that as well as throw around money we could save some like reduce fat cat salaries, reduce immigration, stop seasonal workers coming and replace them with long term unemployed, reduce allowances for travel, have a look if 90y old former PM still needs a secretary and office.

Also definitely ask why prices of food don’t come down a bit since it went up because of fuel cost, hope Choice magazine will do better job with Grocery Watch Internet site.

Possibly why not suggest to employees to share work, like 4 days week instead of sacking 20% of workforce, but if Co can get rid of dead wood probably reduction of workforce better option.

 

[prawn_86]

apparently im part paying for prawns spending money on his trip overseas so hopefully he can grace me an odd joke while i sit here seething that i didnt get bugga all back from this package

I'll try nun

So i'm starting uni, not getting youth allowance...

I get nothing???

Your parents will get the money if your a dependent and they get FTB A. You will also get one lot of $950 if you earnt anything last year.

The Small Business and General Business Tax Break will mean;
A small business that buys and installs a $2,000 computer before the end of June 2009 can claim an additional $600 deduction in its 2008-09 tax return.
A business that buys and takes possession of a $60,000 backhoe by the end of June 2009 can claim an additional $18,000 deduction in its 2008-09 tax return.
Oh wait, dont most small businesses in the city need a backhoe? yeah, yeah, will put that on my list.

I actually need a new computer, but my business wont earn enough this year to need a $600 deduction. Can these be carried across years?

The students working who receive youth allowance as well must be laughing. For these people $1900 is a lot of money.

Its a nice chunk of cash, but personally i wont be spending it in the way Krudd wants

 

[moXJO]

:


Someone needs to tell Mr Rudd that small businesses are not spending anything so his wonderful way of helping small businesses is totally meaningless.

The Small Business and General Business Tax Break will mean;
A small business that buys and installs a $2,000 computer before the end of June 2009 can claim an additional $600 deduction in its 2008-09 tax return.
A business that buys and takes possession of a $60,000 backhoe by the end of June 2009 can claim an additional $18,000 deduction in its 2008-09 tax return.
Oh wait, dont most small businesses in the city need a backhoe? yeah, yeah, will put that on my list.

Don't forget workplace reforms, and emissions trading to really give business an extra boost of confidence That was unfortunately timed to help unemployment grow a bit more.

 

[robots]

Re: So... 2nd stimulus package announced

once again I miss out

Damn you kruddy I want some free money!!!!!!

hello,

no good for me either frink,

thankyou
robots

 

[numbercruncher]

Re: So... 2nd stimulus package announced

hello,

no good for me either frink,

thankyou
robots

Thatll learn yahs for having an income
over 100k .....


:

 

[nomore4s]

Dont worry when the tax increases are announced to pay for it all you'll be first on the list

rotflmao, not so funny when I realised I'm in the same boat.

Its just not fair .. having to stimulate oneself just nowhere as much fun as someone else doing it for you

You really are a dirty nun:

Well, I believe you're entitled then. I would assume all individuals who paid enough tax as to cover the bonus will receive it. Of course, providing you don't earn in excess of 100k.

If he earned in excess of $100k but only paid $2k in tax he probably wouldn't care about the $950 :, also I'd want the name of his accountant

 

[Aussiejeff]

Re: So... insulation handout

It'll work. Kev said so.

Just like the last one did.

And the next one too.

And the one after that.

And the....

 

[Aussiejeff]

Re: So... 2nd stimulus package announced

Government has announced it's 2nd stimulus package.

http://business.theage.com.au/business/govt-unveils-42b-stimulus-20090203-7w6v.html

Some of seems to be in the right direction towards schools, some public housing and other infrastructure.

Don't really approve of the cash handouts (what did they do last time?), although looks like I collect $950.. I guess that will appease some of the "but why don't I get anything" out there, but for me I'd rather it went towards something more productive.

Hey, I've got a great capitalistic idea!! If all those who get the cash hang on to it for a few weeks rather than spend it, the Gummint will get totally desperate, panic and then offer more in Bailout Pack 3!! Then repeat same for Bailout Pack 4... etc It would be economic blackmail of the Gummint's own creation on a grand scale. LOL.

Great idea, get rich quick. Helps Oz to save, plus get all those taxes back, huh?

Capitalism rulez. Greed is good.

 

[GumbyLearner]

Re: So... 2nd stimulus package announced

Hey, I've got a great capitalistic idea!! If all those who get the cash hang on to it for a few weeks rather than spend it, the Gummint will get totally desperate, panic and then offer more in Bailout Pack 3!! Then repeat same for Bailout Pack 4... etc It would be economic blackmail of the Gummint's own creation on a grand scale. LOL.

Great idea, get rich quick. Helps Oz to save, plus get all those taxes back, huh?

Capitalism rulez. Greed is good.

By spending money on education, at least this might help prepare future generations with the assistance of knowledge to repay the debts of the previous generations.