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The JobKeeper Payment will be extended to 28 March 2021 for eligible businesses and not-for-profits.
As the full impact of the current crisis plays out, we believe that there is an increased likelihood that house prices will fall.
An economic perspective
Forecasts are that we will see a 5% drop in global GDP and 10% in Australia. In comparison, the GFC saw global GDP drop by 0.5%.
This will allow employers to continue paying their employees whether they are able to work or not.
Governments and central banks, such as the Reserve Bank, are acting to stimulate the economy and help people who have lost their jobs.
The Government announced several stimulus measures in response to the economic impact of the Coronavirus that effect super, tax and social security.
This level of volatility has continued throughout this week and shows the uncertainty and fear that is driving decision making.
The Coronavirus led share market correction evolved to what can only be described as a crash.
Investors fear that the outbreak will further weaken the global economy not just China
How Coronavirus is affecting the financial market
Changes are effective from 31st March 2020
Summary of the 2019 Federal Election
Summary of the 2019/20 Federal Budget