Covid19 Banking Economic Support
The below is a summary of information provided by the Australian Bookkeepers Network: https://www.austbook.net/
Some financial institutions are committed to providing Covid19 Banking Economic Support to customers during this difficult time.
Act now to provide buffers or liquidity, which should give flexibility going forward.
The idea is to plan for the worst, but hope for the best.
In such a way, liquidity in the business will help grow profits after all this is over.
As a suggestion to our clients (for personal & business matters):
- Pause all finance re-payments immediately for all assets.
- Request postponement of principal reductions.
- Pause Principal & Interest loans or move loans to interest only.
Below are some links clients may find useful:
Tool Link Calculator for PAYGW: https://digit.business/payg-cashflow-boost-calculator
Supporting the flow of credit: https://treasury.gov.au/coronavirus/business-investment
Temporary business relief: https://treasury.gov.au/coronavirus/businesses
Support for individuals: https://treasury.gov.au/coronavirus/households
Support for Business: https://business.gov.au/risk-management/emergency-management/
Covid-19 A Virologist perspective: https://alumni.uq.edu.au/covid-19-know-facts
Macquarie Bank: https://www.macquarie.com/au/personal/coronavirus
CBA Home Loans: https://www.commbank.com.au/latest/support-for-home-loan-customers.html
CAB Business: https://www.commbank.com.au/latest/coronavirus.html
ANZ Home Loans: https://www.anz.com.au/personal/home-loans/your-loan/covid-19/
ANZ Business: https://www.anz.com.au/promo/covid-19/
Westpac Home Loans: https://www.westpac.com.au/help/disasterrelief/coronavirus/
Westpac Business: https://www.westpac.com.au/business-banking/small-business-relief/
NAB Home Loans: https://www.nab.com.au/personal/customer-support/covid19-help/home-owners-support
NAB Business: https://www.nab.com.au/personal/customer-support/covid19-help/business-support
Hi, I’m Jeannie from Cloud 9 Bookkeeping.
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