Coronavirus

The Australian Bureau of Statistics announced a record 932,000 jobs were lost between the March and June 2020 quarters in the wake of COVID-19. While the Government extended temporary economic assistance for most businesses until March 2021, it has gradually been phased back which may result in many businesses downsizing, winding up or becoming bankrupt. This means it’s possible that more jobs may be lost in the coming months.

The global pandemic wrought by COVID-19 has created great uncertainty among policymakers, investors, workers and consumers, but it’s worth noting that its repercussions on the economy and the share market have not been all in one direction.

On 21 July 2020 the Government announced a range of proposals to the JobKeeper and JobSeeker Payments as existing arrangements are set to expire in late September 2020. Certain tax concessions to assist businesses were also extended and have been legislated.

Updates that we feel you need to be aware of about our office, the investment market, and how to get through 2020.