The journey that COVID-19 will take us on

[Black Knight]

Can someone answer this for me-I have a mate who is self employed (a builder works under contract only)-applied and received the 3 month wage subsidy-He is due to go back to work next week after the 5 week lockdown,what does he do about the 7 week surplus money he is holding?

[Katman]

Can someone answer this for me-I have a mate who is self employed (a builder works under contract only)-applied and received the 3 month wage subsidy-He is due to go back to work next week after the 5 week lockdown,what does he do about the 7 week surplus money he is holding?

I'm assuming the reason behind it being a 3 month subsidy as opposed to a 4 week one, is that businesses will likely be still facing a considerable downturn in income for some time after the lockdown ends.

[Black Knight]

Cant quite understand your answer-He starts work after 5 weeks but has received a 3 month subsidy,no real downturn in his business the company he contracts to has heaps of ongoing work.
Is it fair that he should just be able to pocket the money,there must be 100's of folk in this position?

[pete376403]

Cant quite understand your answer-He starts work after 5 weeks but has received a 3 month subsidy,no real downturn in his business the company he contracts to has heaps of ongoing work.
Is it fair that he should just be able to pocket the money,there must be 100's of folk in this position?

If it was me I would be putting that money aside in case IRD ask for it back later. Certainly wouldn't be spending it on the assumption that "they will forget about it"

[russd7]

Can someone answer this for me-I have a mate who is self employed (a builder works under contract only)-applied and received the 3 month wage subsidy-He is due to go back to work next week after the 5 week lockdown,what does he do about the 7 week surplus money he is holding?

if he employs staff and can show that he has had a 30% or more downturn in revenue due to Covid-19 then i wouldn't think there should be a problem, otherwise i would say he will need to pay the unused portion back, the subsidy was put in place to try and keep people employed long enough for business to start to recover, just because he is returning to work doesn't mean he is going to be able to do his full job, there could be hold ups in getting materials etc which could mean less work, there could be restrictions on how he is able to operate which could mean more cost etc, the company i work for are returning to work in a limited capacity, so some will get paid to stay at home and some of us are returning to get export orders fulfilled.
back to work this afternoon to start preparation for start up on tuesday, lots to think about and put in place before more come back on tuesday

[jasonu]

Can someone answer this for me-I have a mate who is self employed (a builder works under contract only)-applied and received the 3 month wage subsidy-He is due to go back to work next week after the 5 week lockdown,what does he do about the 7 week surplus money he is holding?

Does any of this apply to your mate?
If it were me I'd stick it in my mattress then wait to see what happens.
https://www.nzherald.co.nz/business/...ectid=12326947

[Kickaha]

The little fuckers stick shit bigger and further than the COVID-19 test up their noses every day.

Treat them like the fucking little plague rats they are

[JimO]

Cant quite understand your answer-He starts work after 5 weeks but has received a 3 month subsidy,no real downturn in his business the company he contracts to has heaps of ongoing work.
Is it fair that he should just be able to pocket the money,there must be 100's of folk in this position?

you may find that lots of the ongoing work will evaporate , most of the builders i deal with have had several jobs go on the back burner because of the customers change in circumstances

[husaberg]

Can someone answer this for me-I have a mate who is self employed (a builder works under contract only)-applied and received the 3 month wage subsidy-He is due to go back to work next week after the 5 week lockdown,what does he do about the 7 week surplus money he is holding?

When you need to repay
You need to repay some or all the COVID-19 Wage Subsidy if:

you no longer meet the criteria for the subsidy
you're not meeting your obligation to use the subsidy to retain and pay your employees
you've received insurance (eg, business continuity insurance) for any costs covered by the subsidy
you provided false or misleading information in your application.

https://www.workandincome.govt.nz/on...claration.html

[Black Knight]

Following everyones posts and in discussions with him he will be refunding the unused portion-thanks all for the clarifications.

[pritch]

Stephen Moore, a member of Trump's Economic Task Force, has been thinking. Or whatever it is that he does instead. He wants everybody in space suits.

The government can't supply swabs for testing, they can't provide masks for medical staff, but hey let's put everybody in space suits.

And that's nowhere near the silliest statement of the week. The Mayor of Las Vegas is heading off strong challengers with her suggestion that Las Vegas be a "control group".

This interview is just amazing.

https://www.youtube.com/watch?v=VlD8Mjxigws

[Viking01]

Stephen Moore, a member of Trump's Economic Task Force, has been thinking. Or whatever it is that he does instead. He wants everybody in space suits.

The government can't supply swabs for testing, they can't provide masks for medical staff, but hey let's put everybody in space suits.

And that's nowhere near the silliest statement of the week. The Mayor of Las Vegas is heading off strong challengers with her suggestion that Las Vegas be a "control group".

This interview is just amazing.

https://www.youtube.com/watch?v=VlD8Mjxigws

Pritch,
I can't see why you're ridiculing the suggestion. I think you're missing the big picture. The Las Vegas mayor obviously realises that it's one thing to gamble with your money, but another thing to gamble with your health. And by judicious positioning at the head of the queue, they stand to make a killing (financially, I mean) when they sell out their stake.

I just hope that they have one in my size and preferred colour.

[pritch]

Pritch,
I can't see why you're ridiculing the suggestion. I think you're missing the big picture. The Las Vegas mayor obviously realises that it's one thing to gamble with your money, but another thing to gamble with your health. And by judicious positioning at the head of the queue, they stand to make a killing (financially, I mean) when they sell out their stake.

I just hope that they have one in my size and preferred colour.

Ah yes. You mean like those senators did when they sold of millions in stocks each after a confidential briefing on the likely effects of the virus?
And as yet nobody has been charged with insider trading, even the one who is married to the CEO of the NY Stock Exchange - who also, by a remarkable coincidence, unloaded millions of dollars worth of shares at the same time as his wife.

Oh, and a random thought that has been bothering me for a few days now: The way things are going, in a week or two Trumps idiocy and incompetence and the virus will have killed more Americans than Ho Chi Minh and General Giap managed during an entire war.

[Katman]

And as yet nobody has been charged with insider trading.....

That shouldn't come as any surprise.

No-one's been charged over the insider trading that went on immediately before 9/11 either.

You know the one - the one where they said no-one could have envisaged planes flying into buildings.

Except they were conducting a military exercise at the time that included the scenario of planes flying into buildings.

It's all very confusing.

[husaberg]

That shouldn't come as any surprise.

No-one's been charged over the insider trading that went on immediately before 9/11 either.

You know the one - the one where they said no-one could have envisaged planes flying into buildings.

Except they were conducting a military exercise at the time that included the scenario of planes flying into buildings.

It's all very confusing.

You are confused though, as there werre investigation into alleged insider trading after 911 they found no evidence of insider trading.
Do you have some evidence of some insider trading prior to 911 by people other than those directly related to the attack. ie the terrorists and their organization.