IOOF Summary Government COVID 19 Initiatives 23rd March 2020
Written and accurate as at: Mar 27, 2020 Current Stats & Facts
Throughout the last week there have been a myriad of changes and initiatives announced to assist businesses and individuals cope with the financial impact of COVID 19. The landscape is changing daily and every business and household is being affected.
We have collated the following resources to provide our clients with information across the range of areas relevant at this time:
Summary of Government Stimulus Package
We have attached a report provided by IOOF summarising the Government’s stimulus package passed on 23rd March dealing with:
Superannuation access and changes to minimum pensions
Social security payments and changes
Benefits for small businesses
Business Initiatives
COVID 19 presents challenges for businesses. Here are some essential web links providing information on the initiatives for workplaces and businesses.
1. Australian Government – Boosting Cash Flow for Employers
2. Australian Government – Information and Support for Business
3. Fair Work Ombudsman – Coronavirus and Workplace Laws
4. Australian Banking Association – Coronavirus Assistance Available
In addition, each of the State Governments have announced relief measures for businesses including payroll tax, land tax, permits and licence waivers, and rent relief for commercial tenants in government buildings.
Household Mortgages
A number of the banks have also announced personal relief packages designed to help households manage their cash flow.
We are mindful that each business and household will need to implement a different set of strategies to survive COVID 19, and our team, now working remotely are doing their utmost to be in touch with each of our clients to discuss the options.
In the meantime, if you need assistance please contact our team either directly via email or by phone on 02 6024 3000.
Kind regards,
Stephen, Natalie and Glen
IOOF Summary Government COVID 19 Initiatives 23rd March 2020
