Coronavirus (Covid19)

[Dutchy]

Definitely, they claim they have mortgage payments so no cancellations. SA people so they don’t think they should be cancelling however they refunded an interstate booking

Then they should be deferring their mortgage payments, if they are using that excuse its just a greedy cash grab

[Booney]

Definitely, they claim they have mortgage payments so no cancellations. SA people so they don’t think they should be cancelling however they refunded an interstate booking

Then they should be deferring their mortgage payments, if they are using that excuse its just a greedy cash grab

If it was me cancelling and not getting a refund all of my social pages would be covered in their greedy arses.

[JK]

Missus just got the news her hours and thus pay are being reduced - Anyone know if she's able to claim a partial amount through one of the government stimulus measures, or is she better to see if they'll sack her?

[Lightning McQueen]

Missus just got the news her hours and thus pay are being reduced - Anyone know if she's able to claim a partial amount through one of the government stimulus measures, or is she better to see if they'll sack her?

I think 30% less is the number to work by, and then there's you wage that comes into it, the defacto wage limit was lifted to 79K I think I heard.

[scottroo]

People don’t really understand stay at home unless it’s essential...Blackwood is absolutely packed right now. Families all out shopping, people packing bakeries, kids hanging outside hungry jacks...absolute idiots

[tigerpie]

Definitely, they claim they have mortgage payments so no cancellations. SA people so they don’t think they should be cancelling however they refunded an interstate booking

Then they should be deferring their mortgage payments, if they are using that excuse its just a greedy cash grab

But that's just it, its a deferral so still has to be paid pack. That's what the landlords are saying.

Could the banks cancel payments fully and take the hit?

[Spargo]

.

[Lightning McQueen]

Definitely, they claim they have mortgage payments so no cancellations. SA people so they don’t think they should be cancelling however they refunded an interstate booking

Then they should be deferring their mortgage payments, if they are using that excuse its just a greedy cash grab

But that's just it, its a deferral so still has to be paid pack. That's what the landlords are saying.

Could the banks cancel payments fully and take the hit?

Wont they get stung big time for positive gearing if they accept rent but get their mortgage's frozen for 6 months?

[Corona Man]

Well this thing is no doubt affecting all of us in different ways. I mean that in an economic sense as much as a mental and physical sense. Talking to one customer earlier today he mentioned in his belief the economic damage will take 4/5 years to recover from, and I tend to agree.

On a personal note I am now feeling the impact in my work. I work for a USA (equity group) company, the owners of which are reportedly the 5th richest family in the USA (no, not the Kardashians) this family made their wealth in oil & mining, and have invested recently into manufacturing. They bought the company I work for and another manufacturing company who make similar, but different products about 18 months ago. Multi.....Multi Million dollar purchases both of them, and out of loose change in the console of the Ferrari's from what I understand!

Earlier this year, the owners decided to merge these 2 companies - standard operating procedure for equity groups - combine & slash the job duplications. Well the merger is looking more like a take-over right now. The power struggles in the boardrooms in both Chicago & St. Louis would have made for interesting viewing. Unfortunately for me, the company I work for, are loosing the arm wrestle for control. On Monday, our GM of 7 years got his marching orders...... although the guy has been my boss for the past 3 years, he is also a friend. I really feel for him. I do know he had his ducks in a row for quite some time..... they are off to court over his pay out.

The Coronavirus has impacted the decision to cut off the GM's head..... it sped up the process!

Now they have hit all global salaried employees with a 20% pay cut (I think this is illegal in Australia) for the month of April....... I am in that boat.

I spent a good deal of yesterday with the APAC GM of both companies, and it appears he has no real grasp of our customers and what's important to them......

I've spent much of today dealing with key account customers conveying the news of the managerial changes..... fair to say a few of them are far from happy. This is going to be a real challenge now.

Good thing I am working from home during this..... a beer at the desk is in order soon.

The idea of staring at 4 walls over Easter is not that appealing either, rather be playing golf, going to the pub, anything just not thinking about work for a while.....That said its way to irresponsible to head out. Do some grocery shopping, grab some beer at Dans and sit it out.

[Spangas]

Missus just got the news her hours and thus pay are being reduced - Anyone know if she's able to claim a partial amount through one of the government stimulus measures, or is she better to see if they'll sack her?

Sorry to hear that mate. Look up the 'JobKeeper Payment'. https://treasury.gov.au/sites/default/f ... yees_0.pdf
The Government is giving employers $1500 per fortnight to pass on in full to their employees (up to 6 months). If she's currently earning more than that it's up to the employer to 'top-up' her pay or not. That's if her employer registers for the package as well. If she's sacked she may be entitled to the 'JobSeeker' $1100 per fortnight.

As far as other benefits go it depends on household income. My hours are more than likely going to be reduced (we're a single income family of 4), and I know I earn 'too much' (just under 50K after tax) to be able to claim any other benefit apart from Family Tax A & B (2 kids under 6).
Certainly is a shitty year!

[RB]

Definitely, they claim they have mortgage payments so no cancellations. SA people so they don’t think they should be cancelling however they refunded an interstate booking

Then they should be deferring their mortgage payments, if they are using that excuse its just a greedy cash grab

But that's just it, its a deferral so still has to be paid pack. That's what the landlords are saying.

Could the banks cancel payments fully and take the hit?

Wont they get stung big time for positive gearing if they accept rent but get their mortgage's frozen for 6 months?

They will have a greater tax liability yes, but it'll be way smaller than the amount they save in mortgage repayments, so they would be much better off.

[amber_fluid]

They could just change to interest only loan and they won’t get stung at tax time.

[Pseudo]

^

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[Corona Man]

Draw that yourself Amber?

[woodublieve12]

[Trader]

^

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Still here 15mins later... where are the mods when you need them!

[woodublieve12]

actual tears!!!!

[Spargo]

^

Post deletion in 3 ... 2 ... 1 ...

Still here 15mins later... where are the mods when you need them!

The whats?

[mighty_tiger_79]

[Trader]

Quick, lets get it onto another page so they don't notice....

Well this thing is no doubt affecting all of us in different ways. I mean that in an economic sense as much as a mental and physical sense. Talking to one customer earlier today he mentioned in his belief the economic damage will take 4/5 years to recover from, and I tend to agree.

So the Aust GDP is $1.2 trillion. The debt racked up already is $400 billion, with more likely to come.

Historically they've limited tax increases for one off levies to 2%, and made them apply to only certain parties, rather than they economy as a whole.

If they wacked a 3% jump on everything, it still takes 11 years.

I recon we'll be dealing with this for longer than 5 years.