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  1. #1
    Senior Member piroska's Avatar
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    Default And....Finances now

    So for all those sitting back smugly on their full wages or 80%:

    Prime Minister Jacinda Ardern marked April 6 as the first day when there could be signs that the "chain of Covid-19 transmission" has been broken.

    If community transmission is continuing, or even becoming rampant, the lockdown will likely be extended.



    Full time workers will receive $585 per week under the scheme.

    The scheme will be in place for an initial 8 week period, at which point the Government will reassess based on the health situation at the time. The scheme will be available to all businesses in all sectors nationwide, and includes the self-employed and sole traders.

    Eligible firms will be provided a lump sum payment of the equivalent of $585 per week per full-time employee and $350 per week per part time employee for 12 weeks up to a cap of $150,000 per employer.


    the govt gives the business $7020 (12x $585).

    For a full time worker, the wage subsidy will be a 12-week lump sum of $7029.60 paid to your employer. Your employer will then pay that to you on a weekly or agreed upon basis calculated on the above.


    Does an employee need to pay tax on a wage subsidy payment?
    Yes, they will as the subsidy is paid to the employer as part of their normal wages. This means it is subject to the usual PAYE, Student Loan, KiwiSaver deductions, etc.


    Not all banks are doing a full mortgage holiday either, ANZ isn't, they do principal deferment only. I f your mortgage is old, great, if it's new though, the main part of your repayments are interest, so doesn't help much.

    The $585, even before tax, is below minimum wage.
    Although it's way more than the dole.

    The dole is currently:

    Single, 25+ years $218.98 q week after tax.
    Ex-pctek

  2. #2
    Soaring like a chicken prefect's Avatar
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    Default Re: And....Finances now

    Quote Originally Posted by piroska View Post
    So for all those sitting back smugly on their full wages or 80%:

    Prime Minister Jacinda Ardern marked April 6 as the first day when there could be signs that the "chain of Covid-19 transmission" has been broken.

    If community transmission is continuing, or even becoming rampant, the lockdown will likely be extended.



    Full time workers will receive $585 per week under the scheme.

    The scheme will be in place for an initial 8 week period, at which point the Government will reassess based on the health situation at the time. The scheme will be available to all businesses in all sectors nationwide, and includes the self-employed and sole traders.

    Eligible firms will be provided a lump sum payment of the equivalent of $585 per week per full-time employee and $350 per week per part time employee for 12 weeks up to a cap of $150,000 per employer.


    the govt gives the business $7020 (12x $585).

    For a full time worker, the wage subsidy will be a 12-week lump sum of $7029.60 paid to your employer. Your employer will then pay that to you on a weekly or agreed upon basis calculated on the above.


    Does an employee need to pay tax on a wage subsidy payment?
    Yes, they will as the subsidy is paid to the employer as part of their normal wages. This means it is subject to the usual PAYE, Student Loan, KiwiSaver deductions, etc.


    Not all banks are doing a full mortgage holiday either, ANZ isn't, they do principal deferment only. I f your mortgage is old, great, if it's new though, the main part of your repayments are interest, so doesn't help much.

    The $585, even before tax, is below minimum wage.
    Although it's way more than the dole.

    The dole is currently:

    Single, 25+ years $218.98 q week after tax.
    Thats $218.98 too much.
    Its amazing how Potatoes give us chips,fries and Vodka.

    Get your s*** together every other vegetable.

  3. #3
    Senior Member piroska's Avatar
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    Default Re: And....Finances now

    So much compassion prefect.
    Lucky you work for yourself and have enough money to get you through, or work for an essential company that does. So you can sit back smugly rubbishing other peoples situations.

    There are many small business employing people who aren't going to make it. Those people then lose their job.

    I have a friend working for Akld Uni, she's survived the first 5 rounds of redundancy, most haven't.
    There were 5000 non-academic staff when I worked there. Not anymore. they outsourced almost all.

    She is working remotely but was told on Friday there is another redundancy when she comes back, and this time.......
    She's older than me, so her chances.......

    Even my sons work is saying 5 weeks is all they can manage.
    They manufacture and sell to the likes of Mitre10 etc.

    How much renos and new builds will be happening when people are short of money?
    He was earning good money, he isn't getting any mortgage relief or child support relief, and his kiwisaver dropped $13000.

    So if the lockdown extends he's got a big problem too.

    Oh but it's all their fault if out of work isn't it.
    You can pay your bills with fresh air.
    Last edited by piroska; 29-03-2020 at 07:38 AM.
    Ex-pctek

  4. #4
    Soaring like a chicken prefect's Avatar
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    Default Re: And....Finances now

    I save my compassion for people who get out of bed and go to work.
    Its amazing how Potatoes give us chips,fries and Vodka.

    Get your s*** together every other vegetable.

  5. #5
    Off Limits...... beetle's Avatar
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    Default Re: And....Finances now

    Quote Originally Posted by prefect View Post
    I save my compassion for people who get out of bed and go to work.

    Currently thats a huge lot of people not doing that because of this virus, its not their choice.
    And yes some of this lockdown has been a blessing, some of this lockdown has been a omen for their future jobs.
    Im enjoying my time off, doing lots of jobs around here that just needed time, and not much money or I had bits already for. But in the long run Im not sure I have a job to go back to......

    so It would be my second redundancy in my lifetime.

    Heres hoping NZ can get it sorted and we go back to living a nice life after sickness. with jobs and better work ethics and happy families.
    Im not trying to be difficult it just comes naturally.

  6. #6
    Retired old codger kenj's Avatar
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    Default Re: And....Finances now

    Hey Prefect, not everybody is as incredibly perfect as you...... (prefect = perfect, spelled incorrectly obviously)

    I have been around a long time now and found that you can't judge people without knowing their particular circumstances. We are all different! I have known a lot of people that get up each day and go to work. Some of them are right bastards. Are you like that type?

    Some of the nicest hardest working people I have known haven't had paid work. They spend a lot of time helping others in many ways.

    There are good and bad types of people in all circumstances.

    Ken
    Corgi Ben Kenobi.......Related by Corgi to the Queen

  7. #7
    Seasoned Member allblack's Avatar
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    Default Re: And....Finances now

    I think it's safe to assume that Prefect is referring to those dregs of society that go through life with their hands out wanting other hard-working people to support them, with no intention of changing.

    Inter-generational welfare might be a more technical description.

  8. #8
    Member bk T's Avatar
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    Default Re: And....Finances now

    My wife is hit by the 'unpaid leave' because of the pandemic.
    She is too proud to turn to the Social welfare for the unemployment benefit.

    I tried to convince her that she has paid her taxes for all these years and it's time to get some of them back, but she said, "NO"!

  9. #9
    Seasoned Member allblack's Avatar
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    Default Re: And....Finances now

    Quote Originally Posted by bk T View Post
    She is too proud to turn to the Social welfare for the unemployment benefit.
    I blew $15k of savings for that very reason. Too proud to beg despite working and paying taxes since I was 15.5

    100% appreciate where she's coming from, but from someone who knows, she's gonna regret it.

  10. #10
    Senior Member piroska's Avatar
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    Default Re: And....Finances now

    Quote Originally Posted by bk T View Post
    My wife is hit by the 'unpaid leave' because of the pandemic.
    Yes, this is my point. never mind right now, I am talking about later on, prefect has his head in the sand if he thinks no-one is going to suddenly find themselves jobless in another few weeks.
    Ex-pctek

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