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WE ARE HERE TO HELP. FURTHER STIMULUS ANNOUNCED.

As mentioned in our last few updates, do not hesitate to ask us for help.

We are still providing an initial 1-hour free meeting (most likely via Zoom or phone) for clients who are unsure as to 'where to' from here or just want to get a better understanding of the current government measures in place to support their business. 

Dave: 0418 900 472. dave@businessprecision.com.au 
Joselyn: 0417 740 927. joselyn@businessprecision.com.au 


There is more detail coming out on an ongoing basis, so we will do our best to try and make sense of it all for you specific to your situation as you ask and as it changes.

The government's additional measures released yesterday see some additional $66b flow into the economy to assist people during this time.

The banking industry has also announced measures to support households and business, please seek immediate advice from your bank in the case you require relief now.

A basic breakdown of the increased government measures are below:

SUPPORT FOR BUSINESSES

This includes:

BUSINESS INVESTMENT MEASURES

  • Immediate cash flow needs for SME's
  • Quick and efficient access to credit for small business
  • Reserve Bank of Australia - Supporting the flow and reducing the cost of credit
  • Support for non-ADI and smaller ADI lenders in the securitisation market
  • Australian Prudential Regulation Authority - Ensuring banks are well placed to lend.

All information regarding these can be further accessed here.

https://treasury.gov.au/coronavirus/business-investment

SUPPORT FOR INDIVIDUALS AND HOUSEHOLDS

With forced closure of certain industries there will be people requiring access to further support measures. The government has released these below also. 

  • Income support for individuals
  • Payments to support households
  • Temporary early release of superannuation
  • Temporarily reducing superannuation minimum drawdown rates
  • Reducing social security deeming rates.

All information regarding these can be further accessed here. https://treasury.gov.au/coronavirus/households

We will continue to provide communication to clients as it comes to hand. 

Please contact us directly for further support.


Thank you,

The Team at Business Precision

This information is designed to be general in nature and not specific advice. Please contact our office for further information and advice specific to your circumstances.

Liability limited by a scheme approved under Professional Standards Legislation.

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