How to get on top of your finances post COVID-19

• Managing cash reserves and liquidity opportunities
• Reducing costs
• Remodelling and/or innovating

• Adapting to changed customer behaviours
• Empowering managers to lead virtually
• Investing in digital infrastructure
• Taking advantage of commercial opportunities

• Creating agile working models to speed up new business
• Strategising long-term growth through existing and potential markets
• Exploring scalable concepts

General Outsourcing Services provided by YML

• More precise and flexible productivity 24/7
• Continuity and consistency of customer service across time zones
• Specific skilled work achieved efficiently
• Renewed focus on inhouse strategic approach to business targets and outcomes
• Scalable capability offering flexibility to adapt to increases and decreases in demand
• Lower inhouse labour costs and improved labour distribution
• Opportunities for expansion, both locally and globally

• Administration
• IT – Support / Systems Administration
• Compliance / Due Diligence
• Customer Support / Data Management
• HR / Recruitment / Payroll
• Marketing / Web Designer

Economic Stimulus Package Updates – JobKeeper 2.1

1. Click on the link below to engage us and provide us with your bank account details

https://app.hellosign.com/s/JTYX1jRe

2. Click the link below if you are a business owner – and not an employee – for you to REMINreceive JobKeeper

https://app.hellosign.com/s/Hu4BQXtt

3. Provide the link below to your employees so that we can collate the employee information required for you to receive JobKeeper (you will also need to provide your employees with your ABN)

https://app.hellosign.com/s/JhE06wTy

Click on the link below to engage us and provide us with your bank account details

https://app.hellosign.com/s/AQ4JJwKc

Should I leave my savings in the offset or in the redraw?

Economic Stimulus Package Updates

1. Click on the link below to engage us and provide us with your bank account details
https://app.hellosign.com/s/JTYX1jRe

2. Click the link below if you are a business owner – and not an employee – for you to receive JobKeeper
https://app.hellosign.com/s/Hu4BQXtt

3. Provide the link below to your employees so that we can collate the employee information required for you to receive JobKeeper (you will also need to provide your employees with your ABN)
https://app.hellosign.com/s/JhE06wTy

1. employees of an approved provider of childcare services where the employee's ordinary duties are that they are principally engaged in the operation of the childcare centre
2. eligible business participants where the business entity is an approved provider of a childcare service

• Premises fit-out changes
• Staff training – safe work practices in COVID-19 conditions
• Cleaning products and services
• Marketing expenses
• Advertising costs
• IT upgrades

• Be a small business or not-for-profit organisation based in NSW and have an ABN registered in NSW;
• Have an annual turnover of more than $75,000 (BAS is used as evidence);
• Employ fewer than 20 full-time equivalent employees;
• Have paid 2019-20 payroll tax below the $900,000 threshold;
• Be a highly-impacted industry (Public Health Order (COVID-19 Restrictions on Gathering and Movement) 2020) See Attachment A https://www.service.nsw.gov.au/small-business-covid-19-recovery-grant-guidelines#attachment-a-list-of-highly-impacted-industries; and
• Have post-1 July 2020 costs associated with reopening or upscaling your business.

Buying Property through your SMSF

A) It is important that all investments are in the best interests of fund members and that the Sole Purpose Test is met. Your SMSF must have a sole purpose of providing retirement funds to its member/s.

B.) A property purchase must be made as an ‘arm’s length’ transaction and be maintained on a commercial basis; that is, not be used personally – for example, as a holiday home or leased to a family member.

To be deemed commercial, a SMSF-bought property must provide an income stream and have a realistic prospect of capital growth. Where one or more properties exists in a SMSF investment portfolio, you must consider:


• each member’s needs and circumstances (age and retirement needs)
• diversification (investing in a range of assets/asset classes)
• liquidity of the fund’s assets (how easily converted to cash to meet expenses)
• fund’s ability to pay benefits (when members retire)
• insurance to protect members and their retirement savings

C.) A property asset’s cost price, sale price and rental income must reflect true market rate of return and must not be bought by or sold to any member of your SMSF.

• Combined investing: Where your personal savings outside of superannuation are not enough for a deposit amount, combining individual superannuation account balances with your partner or your family members may give you the purchasing power for a property asset for retirement investment purposes.

• Repayments from pre-tax dollars: If you can afford to save and have room within your concessional contribution limit, then you can salary sacrifice additional income to your SMSF to help pay off the property loan more quickly from your pre-tax dollars. Paying 15% on salary to make repayments is likely less than paying your marginal tax rate on your income and simply putting money in to a savings account.

• Tax-effectiveness: Superannuation receives concessional tax treatment on assets that are used to save for retirement. The earnings within your SMSF are taxed at 15% and there is a 33% discount for assets held for more than 12 months (that is, 10% CGT). This is most likely less that your marginal tax rate. An attractive bonus is a property held until retirement will result in the earnings within the pension phase being tax-free. This is in addition to any rent if you keep a property or the sale proceeds if you sell a property.

• Support your business’s growth: There are rules preventing you from purchasing a residential property for yourself or for a fund member. You may, however, buy a commercial/industrial property to lease back to your own business, potentially freeing up money to grow your business. Your business must pay a current and true market rate of rent.

• Fund set-up costs:Set-up expenses can seem prohibitive, but appraising mortgage fees and balancing costs against long-term benefits can make property investment achievable. The high cost means purchasing property through your SMSF is generally only suitable for funds with a balance of at least $250,000.

• Cash flow sensitive: You will need a larger deposit to purchase a property through your SMSF than if you borrowed directly. You may not borrow to build or to improve a property, so you will need to ensure that you can meet your repayments and property costs from rental income and any SMSF cash assets. Consider insurance for the term of the loan.

• Unsuitable for negative gearing: If you borrow to buy property through your SMSF and you are negatively geared, the tax offset only applies to other SMSF earnings – taxed at 15%.

• Large, illiquid asset: Your SMSF might not achieve diversification or have a lack of diversification if you have only one or two properties. It is wise to not have all your eggs in one basket, so reexamine your investment strategy by considering insurance, cash holdings and liquidity options to enable future pension payments.

• No personal benefit from property: Property investment within a SMSF must have been purchased as an ‘arm’s length’ transaction and must be maintained on a commercial basis. As such, a residential property may not be purchased from or leased to a related party. The ATO advises that one of the most common breaches of the sole purpose test is SMSF property assets providing pre-retirement benefits to fund members.

• Liquidity at retirement: When your superannuation transfers to the pension phase, you will need to ensure that you have accrued sufficient cash to make pension payments – without the risk of a possible fire sale of any property. Future pension payments currently range from 4% of a fund member’s balance before 65 to 5% from 65 – 75.