We hope you are doing well during these extraordinary times.
We also want you to know that we are well informed and here to help you understand the financial support measures that are available both now, and as new measures emerge.
Here we have prepared a quick summary of the key facts. The Government announcements of 22nd March have now been legislated for these and other support measures:
For Individuals & Families
- $750 cash payments
- $550 per fortnight Coronavirus Supplement
- Reduction in deeming rates
There are numerous business loan support and tax measures available to provide relief for businesses as follows. Read the full details in the attached document:
- Small business loans – relief packages
- Coronavirus Guarantee Scheme
- Additional lump sum payments to employers
- Instant asset write-off
- Accelerated depreciation
- Employers with apprentices and trainees
If you are in financial distress because of the coronavirus, you may be able to access some of your super savings. If you meet eligibility criteria you could access up to $10,000 before 30 June, 2020 and an additional $10,000 from 1 July, 2020. This is available until approximately September 2020.
There is also a temporary reduction in income stream drawdown rates. The reduction in the minimum drawdown rates applies to the 2019/20 financial year and for the 2020/21 financial year.
Should you need any assistance at any time, please accept our invitation to give us a call. We’re all in this together. Download the FULL document HERE.