The Queensland Government has been working through a three-step plan to restart the state’s economy. This month, all going to plan, we are set to reach the final stage. Already we’ve seen quite a few hospitality businesses return to welcome customers as part of this process. Like everyone, I look forward to seeing our pubs and hotels able to reopen their doors.
Times have been incredibly challenging, but it’s been great to see the innovation that has come out of the industry during this crisis. Some venues were able to continue selling takeaways despite being closed to dine-in customers. Licensing laws were also adjusted to allow pubs and bars to sell alcohol as takeaway. In one of the most surprising twists, many bars and pubs actually began to sell takeaway cocktails for keen customers to enjoy at home!
Then in May, the JobKeeper payments began coming through, helping eligible businesses retain their staff while venues were closed or business was slow. For many, this has been a good way for employers to stay connected with their workforce.
The aim of these measures was to help the businesses impacted by COVID-19 survive the crisis, so they could reopen on the other side. We all want to see our favourite venues return to doing what they do best, just as soon as it is safe to do so.
Once business does resume and your staff return to work, you’ll want to get everything back on track as quickly as possible. We want this too, so we’ve been taking steps to ensure that the administrative side of this is as smooth as possible for our business partners.
We expect that many staff who have been stood down during the current crisis may be receiving JobKeeper payments. We’ve made arrangements for eligible Intrust Super members in this situation to maintain continuity of cover for income protection – even if they are not currently receiving super contributions*. Intrust Super has always been committed to providing your staff, including casuals, with access to income protection for illnesses or injuries. We’re very pleased to continue providing this financial protection in these ever-changing and challenging times.
In addition, you won’t need to create new accounts for staff when work resumes. Our members will retain their super account details and your super administration won’t be impacted. If members withdraw all their benefits under the new early release rules, we’re working to ensure as few of them as possible require new account numbers when they start contributing again.
If there is anything else our Fund can do to assist with the process of reopening your doors, please let us know. The team is always here to support our members and clients and would love to assist in any way we can. You can get in touch by emailing service@intrust.com.au, or by contacting your local Intrust Super Relationship Manager directly.
*Specific terms and conditions apply.
The opinions expressed in this column are my own and do not necessarily represent the view of Intrust Super.
The information contained in this document is of a general nature only, and does not take into account your individual financial situation, objectives and needs. You should consider the appropriateness of the general information having regard to your own situation before making any investment decision. For personal advice, please contact the Intrust360° financial advice team on 1300 001 360. A Product Disclosure Statement is available at www.intrust.com.au or call us on 132 467 for a copy.
Issued by IS Industry Fund Pty Ltd | MySuper Unique Identifier: 65704511371601 | ABN: 45 010 814 623 | AFSL No: 238051 | RSE Licence No: L0001298 | Intrust Super ABN 65 704 511 371 | SPIN/USI: HPP0100AU | RSE Registration No: R100439
To see Brendan O'Farrell's June 2020 article for the QHA Review - click here.
