Our Office, COVID-19 & Government Stimulus - 24 March 2020


Yesterday we posted information about the proposed Stimulus Package and our response to the developing Corona Virus emergency.  Since our last post there have been a large number of changes to both of these situations that we wanted to share with you.

The Government Stimulus

The Prime Minister released a 2nd stimulus package to further support the Australian people and our economy.  We have provided an updated summary of the package for your information.  However as we have been getting a very high volume of calls relating to this we have gone a step further and added the government fact sheets for those looking for more detail (see bullet points below).  We are happy to discuss in depth with you should you wish and remain committed to giving you the best information possible.

Both Federal Government stimulus packages were bought into law last night following approval by all political parties.  There was a minor amendment as the Coalition amended its own legislation to give the Social Services Minister the power to make changes to the stimulus payments, including rates, means testing, eligibility and residency requirements.

The Government will immediately use these powers to extend the $550 Coronavirus supplement to students receiving Youth Allowance, Austudy and Abstudy payments.

Ridgway Accounting / Ridgway Financial Services

Following last night's announcement by the Prime Minister on the government's new guidelines for limiting the transmission of COVID-19, the majority of our staff will be working remotely from home as of tomorrow.  The Ridgway Accounting office will remain open however in the interest of protecting our staff only David, Todd and a small skeleton team will be present for normal office hours.  We have engaged with our IT consultants to ensure that your information is secure and advise that no paper files / documents will be removed from our premises.

If you need to speak to any of our staff please contact the office as normal and the team will arrange for that person to call you back as soon as possible.  While we are happy to see everyone in the office we do ask that if you are feeling unwell please follow health guidelines and stay at home.  We can contact you via telephone or video chat to assist you.

Banking & Finance

We note that a lot of banks are currently offering loan repayment deferrals and other assistance.  However, anyone seeking this option needs to  be aware that many of the banks will add your unpaid interest to your loan balance while you are not making repayments.  We recommend you check your bank’s website or contact them if you need assistance with your loans or other banking matters.

Wishing you all the best,

David, Todd & the Team

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