Update – 24 March 2020

As each day passes, what we thought was a challenge, seems somewhat trivial based on next days news. I have re-written this communication to 4 times given the pace that everything is moving at. But the underlying message has not changed. We want to assure our clients that we are here to help and support all of them.

Banks and governments appreciate that this is a once-in-a-lifetime event (we bloody hope) and everyone is jumping in to do what they can – we are no different. Part of the silver lining in this crisis.

Parliament has signed off on another multibillion-dollar package to support business and households. This assistance has come in the form of instant tax write offs for businesses up to $150,000, to interest repayment holidays for home loan borrowers (process for this largely detailed on home page of all lenders websites). And no doubt there will be more assistance coming. APRA have also announced today that any arrangement entered into with borrowers and the banks is not to affect their credit ratings.

There is always opportunity in adversity. Please contact us if you have any queries, be it needing a repayment holiday or taking advantage of the really low rates. We are here to help