Unintended consequences of Government COVID-19 Policies
June 9, 2020
For every action there is a reaction. And while we’re not criticising the government’s policy response to COVID-19, we recognise that such intervention often has unintended consequences. Take lower interest rates for instance. Central banks intended to make the cost of investment cheaper and be stimulatory. Instead, Australian households borrowed more money to buy bigger…
Maintaining your mental health through the pandemic
June 4, 2020
The COVID-19 pandemic has shifted our day-to-day lives in a dramatic way. One of the biggest changes to come from this period, was a transition to working from home for many people. On top of this adjustment, parents had the additional challenge of monitoring remote schooling for their children. Social interactions were severely reduced and…
Time to reassess your financial priorities
June 1, 2020
At a time of uncertainty about the economy, not to mention unexpected social isolation, people are rethinking their personal and financial priorities. Whether you are spending less by necessity or because you are living more simply at home, this could be a good time to reassess your spending and review your household budget. Our spending…
Keeping the economy moving
May 11, 2020
The Morrison Government’s mind-bogglingly large support packages to get Australians through the COVID-19 shutdown have dominated headlines, and rightly so. Only months ago, the Australian economy was in relatively good shape and headed for a Budget surplus. It’s not just the Government that has swung into action. Behind the scenes, the Reserve Bank of Australia…
Withdrawing Super: what to consider
May 11, 2020
The federal government has been releasing details of financial support available to Australians who have lost income due the economic impact of the COVID-19 pandemic. A huge number of us have been affected in some way and many have been left feeling stressed and confused about what to do to keep afloat. Although concern about…
The Importance of Maintaining Connection Right Now
May 7, 2020
“In the rush to return to normal, use this time to consider which parts of normal are worth rushing back to…” Many people around us have been using this time to consider the kind of world they hope to live in. The values they wish to see and the aspects they hope to leave behind….
The Big Differences between the Great Depression and Covid-19
May 7, 2020
Global economic activity has grounded to a halt, prompting fears the world is in for a re-run of The Great Depression. While there might be similar scenes, the parallels are not as strong as you may think. Without a doubt, countries worldwide are in for sharp, deep recessions as they rightly sacrifice economic growth in…
New tax shortcut for employees working from home
May 6, 2020
With many people now working from home because of COVID-19, some of the expenses your employer normally pays – such as electricity, heating and cooling – are now coming out of your wallet. Although some employers may provide a daily allowance to help with these additional costs, if you’re not receiving anything it’s important to…
Avoid cabin fever: look after your psychological health
April 21, 2020
Being stuck in isolation due to the coronavirus can be a real drain on your psychological health. But you can work through it. Your psychological health reflects how you feel, think, behave and relate to others. All of these areas are being affected by current global events and the need to physically distance ourselves. Research…
5 Tips to work productively remotely
April 14, 2020
In the current climate, many businesses are needing to make changes to accommodate staff working remotely. If you are able to work from home the ensuing changes to your work habits can be challenging to negotiate, however there are things you can do to ensure that you maintain productivity and motivation while you’re not in…
JobKeeper Payment now officially passed by the Government
April 14, 2020
On April 8th, the JobKeeper package was passed by both sides of Parliament and legislated. This update offers further guidance on the scheme. Workers with multiple jobs If you are employed by multiple businesses, you are only eligible to receive the payment from your nominated primary employer. Timing The JobKeeper will be available from March…
Commercial tenancies rent relief package
April 20, 2020
On April 7, the Government announced new commercial rental waivers and deferrals for tenants that have been severely impacted by the coronavirus crisis. The draft Code of Conduct is to impose a set of ‘good faith leasing principles’ and intended for landlords and tenants to share a proportionate financial risk and cashflow impact during this…
Temporary Relief for Financially Distressed Businesses
April 14, 2020
The coronavirus is first and foremost a health crisis, but as measures are being taken to reduce the spread of the virus throughout the community, many profitable businesses may temporarily suffer financial hardships. The Government announced the following initiatives to assist these businesses to make it through the crisis and resume normal business. Temporary higher…
Economic Stimulus Package – Boosting cash flow for employers
April 20, 2020
An economic stimulus package is being put in place to support businesses to manage cash flow challenges and assist them retain their employees to continue to stay viable through the coronavirus crisis. The Government is providing tax-Complimentary cash flow boosts between $20,000 and $100,000 to eligible businesses delivered through credits in the activity statement system…
Award Flexibility During Coronavirus
April 20, 2020
Workers may soon have access to unpaid pandemic leave and extended annual leave at reduced rates to help keep them in their jobs through the coronavirus crisis. On 1 April 2020, the Fair Work Commission (the Commission) issued a Statement outlining its intention to update 103 awards during the coronavirus pandemic. The proposed updates would provide:…
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