We have heard unconfirmed rumours that Western Australia may go into a total isolation as early as this coming weekend.
Over the past week, we’ve been progressively making arrangements for our staff to be able to work from their homes, so that we’re able to keep helping you during your time of need.
In terms of conserving your cash, we have prepared a simple priority list of where you may be able to access funds &/or defer loan repayments. In terms of the order to preserve and save cash, we recommend:
- For small businesses, claim the ATO grants
- For individuals who have lost their jobs, claim the Job Seeker Allowance
- Claim home loan and business loan repayment holidays of up to 6 months from your Lender/s
- For individuals who have had a 20% or more cut to their pay, claim from your Superannuation now if you need to, for up to $10,000 in this financial year and another $10,000 next financial year, only if required.
In our view, make sure that you claim the funds available from Governments first, then from banks, and lastly from your Super.
Remember that your Super is there to fund your retirement. Under normal circumstances, you can’t access it until you retire but in these uncertain times, the Government has opened a limited window to access up to $20,000 over the next few months.
FOR MORE DETAILS refer to the various Newsletters we’ve issued this week.
Still have questions? We are here to help.
AAG is still working for you and we’ll keep you informed of all of the critical issues as they come to our attention.
We will assist you to get access to the information and any financial assistance as soon as it comes to hand. We will help you with your finances and your financial welfare.
We are here to support you with all concerns however small or large. Please email us at consulting@austasiagroup.com, or via phone on 08 9227 6300.
