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Thread: Coronavirus + Business + You

  1. #241
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    Default Re: Coronavirus + Business + You

    Check out link below if you haven’t already seen it.

    https://youtu.be/Pcjg2YcEzsw

  2. #242
    Senior Member geoff's Avatar
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    Default Re: Coronavirus + Business + You

    Quote Originally Posted by The Edge View Post
    Check out link below if you haven’t already seen it.

    https://youtu.be/Pcjg2YcEzsw
    You have to give it to Jim like a dog with a bone he’s been at for weeks now . This appears to have some legs

  3. #243
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    Default Re: Coronavirus + Business + You

    Quote Originally Posted by geoff View Post
    You have to give it to Jim like a dog with a bone he’s been at for weeks now . This appears to have some legs
    Jim sounds like a Un-grateful person trying to get more for himself when the country is strugling. Wants his monthly payment from his franchises. doesnt even reconise indepentant contractors to say there is only 4000 contractors in vic is bull**** and a insult to garden contractors.

    Small business wont benifit from this

    workers get Job keeper 1500 a fortnight.

    They have been given a minimum 20k tax free from the federal government.

    So the 6 weeks of closed business would have to have cost your business well over 20k in profit. Not Sales and not Wages. "20K of After Tax Business Profit".

    What contractors make 20k profit after all expenses and wages in only 6 weeks. im guessing most would struggle to have 20k after tax Business profit in a year.

    The only gardening contractor making over 20k Business profit after tax would be JIM....

    Even a 1million dollar in sales business may not make any business profit in a year. Wages, Vehicles, Machinery, the business assets may grow making the business worth more money but thats not profit.

  4. #244
    Senior Member geoff's Avatar
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    Quote Originally Posted by Macka View Post
    Jim sounds like a Un-grateful person trying to get more for himself when the country is strugling. Wants his monthly payment from his franchises. doesnt even reconise indepentant contractors to say there is only 4000 contractors in vic is bull**** and a insult to garden contractors.

    Small business wont benifit from this

    workers get Job keeper 1500 a fortnight.

    They have been given a minimum 20k tax free from the federal government.

    So the 6 weeks of closed business would have to have cost your business well over 20k in profit. Not Sales and not Wages. "20K of After Tax Business Profit".

    What contractors make 20k profit after all expenses and wages in only 6 weeks. im guessing most would struggle to have 20k after tax Business profit in a year.

    The only gardening contractor making over 20k Business profit after tax would be JIM....

    Even a 1million dollar in sales business may not make any business profit in a year. Wages, Vehicles, Machinery, the business assets may grow making the business worth more money but thats not profit.
    Hang on there would be too many contractors around me
    Including me that got 20k from the feds that’s only for people that employ ...
    Job keeper wouldn’t cover one good day of work... most of my mates in the businesss are on 600 to 700 a day overheads small

  5. #245
    Senior Member Chris B's Avatar
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    Default Re: Coronavirus + Business + You

    Quote Originally Posted by geoff View Post
    Hang on there would be too many contractors around me
    Including me that got 20k from the feds that’s only for people that employ ...
    Job keeper wouldn’t cover one good day of work... most of my mates in the businesss are on 600 to 700 a day overheads small
    Not to mention how much long term damage has been done to the economy

  6. #246
    Member Macka's Avatar
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    Default Re: Coronavirus + Business + You

    Quote Originally Posted by geoff View Post
    Hang on there would be too many contractors around me
    Including me that got 20k from the feds that’s only for people that employ ...
    Job keeper wouldn’t cover one good day of work... most of my mates in the businesss are on 600 to 700 a day overheads small
    600 to 700 a day one worker, turning over 150k a year as solo trader, must be paying 32.5% and 37% tax

  7. #247
    Senior Member geoff's Avatar
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    Default Re: Coronavirus + Business + You

    Quote Originally Posted by Macka View Post
    600 to 700 a day one worker, turning over 150k a year as solo trader, must be paying 32.5% and 37% tax
    not necessarily so mate , having a wife that does not work we can income split legally so theres a big saving so first 36k plus tax free and now that i am heading to pension age that will go to 50k between the mrs and i so yeah the 37% doesn't apply so much lol ..geez life is good when you can beat the taxman and totally legal..and yes the ones that have not got that advantage 700 bucks a day after tax is still better than working for the man hey...and buying new equipment you can get a instant tax write off up to 30k and i think its gone to a higher figure like 150k not sure but i know when i bought my ute at 25k that took us into a refund ..as we pay quarrel payg ..

  8. #248
    Senior Member geoff's Avatar
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    and macca not a jims man but he has suspended his fees during this period .hes backed by his push by senator sarah henderson ( a liberal which is good lol ) ..Bloody chairman Dan created this problem in vic 99 % of the virus outbreak was due to the barley controlled hotel holding of oversees infected people ,,if it was properly we would have a problem we would need job keeper or what ever ..its a fcking disgrace that a labour premier is conning the public ..i am so mad that he has brought us down , people ar committing self harm because of the lock down..old people are dying 25 plus a day , people who cant work stuck at home ...so you have no idea in SA what we are going through ....

  9. #249

    Default Re: Coronavirus + Business + You

    Quote Originally Posted by geoff View Post
    Hang on there would be too many contractors around me
    Including me that got 20k from the feds that’s only for people that employ ...
    Job keeper wouldn’t cover one good day of work... most of my mates in the businesss are on 600 to 700 a day overheads small
    I told you it was by lunchtime Geoffrey

  10. #250
    Senior Member geoff's Avatar
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    Default Re: Coronavirus + Business + You

    Quote Originally Posted by South East Mowing View Post
    I told you it was by lunchtime Geoffrey
    Now there was an operator so let’s say 10 plusyears ago this guy called ROO comes on the forum and says 600 a day and surfing by 2 , an absolute legend and someone I aspired to earn those good dollars , he was on the money so he’s probably on a grand a day by now lol

  11. #251
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    Default Re: Coronavirus + Business + You



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    http://curraronggardening.com/

    "All sin is washed away in the Holy goodness of Beer"
    Book of Redeye, Psalm 69

  12. #252
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    Default Re: Coronavirus + Business + You

    a grand a day
    You guys aim so low, I have that before I wake up in the morning unfortunately it seems to have disappeared when I do wake up
    Anything Ian says may or may not be garbage, it may also be his own opinion or it may not be his opinion at all, it may just be something he felt like stating anyone following his advice does so at their own risk and may be doing something Ian would actually advise against.
    And if you don't like what Ian has to say use the ignore function if you don't know how ask i will gladly tell you

  13. #253
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    Default Re: Coronavirus + Business + You

    Quote Originally Posted by geoff View Post
    not necessarily so mate , having a wife that does not work we can income split legally ..
    Hey Geoff - Quick question, if I may. As mentioned I'm in the process of setting up... To do this sort of income splitting, do you need to set the business up as a partnership?

  14. #254
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    Quote Originally Posted by 33293 View Post
    Hey Geoff - Quick question, if I may. As mentioned I'm in the process of setting up... To do this sort of income splitting, do you need to set the business up as a partnership?
    Gday mate when you set up your abn put down you and the mrs as a partnerships if you haven’t you can still amend more importantly it’s when your accountant and I do stress please use an accountant they will set the whole thing up for you ,, I did look at company but very costly to run and unless your in the big turns over not worth it according to my advice .. the partnership obviously works best when the mrs stays home or Mayne she is you wingman on the job... mine has helped a lot

  15. #255
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    Default Re: Coronavirus + Business + You

    Quote Originally Posted by geoff View Post
    Gday mate when you set up your abn put down you and the mrs as a partnerships if you haven’t you can still amend more importantly it’s when your accountant and I do stress please use an accountant they will set the whole thing up for you ,, I did look at company but very costly to run and unless your in the big turns over not worth it according to my advice .. the partnership obviously works best when the mrs stays home or Mayne she is you wingman on the job... mine has helped a lot
    Thant's perfect thanks Geoff. I was thinking of going with a partnership. What you've described suits me well!

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