JobKeeper is gone, but the money’s not, just don’t call it JobKeeper!

With half the nation in lock-down (yes, Victoria’s out, but for how long?), in my opinion this is the toughest time many small businesses have ever faced. Despite the property and share markets soaring, the recession has now become real for many people.

The government has declared that JobKeeper is not coming back, at least, not with that name. However, the federal government has announced that income support for people in lockdown will be equal to the JobKeeper amount, but will be paid directly to workers, rather than via employers.
So basically JobKeeper.
There is also further assistance available via various state government grants in Victoria and New South Wales for businesses that have been impacted by lockdowns, but for inexplicable reasons the Victorian government application process hasn’t even opened yet, even though lockdown is now over. Seems to not make a great deal of sense.
One of the biggest factors again is the cost of rent for premises that are not being utilised. So if you haven’t done so already, it’s time to have an open and honest chat with your landlord about rent deferral, with a view that either the federal or state government will provide a subsidy. My gut feeling is they will, it’s just a matter of when.

In other news, last night our time the US Fed’s two-day policy meeting concluded. The central bank said it was leaving its key interest rate unchanged, though it was moving closer to reducing massive support for the US economy. This is a key factor in keeping share markets globally near record highs.