Updated 31/3/20
Whatever your belief about the COVID-19 pandemic, one thing we can all agree on is small business and employees are going to be affected by the social distancing and isolation rules.
Luckily, the Government and Banks have moved to help alleviate the blow with swift action over the last few weeks.
Here is a brief summary of the help available to you depending on your situation.
It is expected that further measures will be released as the extent of the economic impact is understood.
What financial measures will help me?
Below we have summarised the measures and announcements from Federal & WA Government as well as Banks.
Further information and fact sheets are available at https://treasury.gov.au/coronavirus
With regards to withdrawing superannuation, be careful with this as your fund may be down substantially so withdrawing $10,000 may have a larger impact on your long-term results.
Many of these measures will be automatic, but some will require you to act. Make sure that you understand what you are entitled to and ensure you take advantage of it.
If any of the above affect you and you need more information, please email us.
To stay up to date on what’s happening:
Like our Facebook Page – https://www.facebook.com/Merideonwealth/
Follow us on LinkedIn – https://www.linkedin.com/company/2313484