We continue to share our hand selected articles in our sections ‘Property’, ‘Government’ and ‘Economy’, and also include links to government support packages, for business owners, employees, job seekers, landlords and tenants.
We also include prescient articles on the Covid-19 data, research and strategies that shape the analysis of the economy and property markets.
Property
Post Easter Week Sees A Rise In Scheduled Volumes, However Challenges Remain As Withdrawn Numbers Continue To Weigh Down Success Rates
This week, the number of auctions scheduled almost tripled from the number over the Easter slowdown period. Despite the increase in volumes, the existing challenges around new policies banning onsite auctions and inspections are still impeding on activity across the market. As confidence remains low and circumstances uncertain, it’s expected that fewer vendors will elect auction as their preferred method of sale and either convert to private treaty method or hold off on selling all together…
Tax reform heads RBA’s wish list
The best way for the nation to recover from this once-in-a-century economic crisis, according to Philip Lowe, is for governments to embrace the Henry tax review and adopt overdue reforms to underwrite a business-led revival. Lowe’s call to overhaul taxing “income generation, consumption and land” is code for cutting business tax, increasing the goods and services tax and abandoning damaging state-based property stamp duties in favour of land tax…
Economy
Australia’s success implies we’ve over-stimulated
Australia’s exceptional efforts in flattening the COVID-19 curve quickly and crushing viral transmissions means that we may be a victim of our own success. The government’s fiscal stimulus may have been calibrated for a situation that is much worse than the one we face. New analysis presented by Deutsche Bank economist Torsten Slok shows that among the 20 countries he examined, no nation has provided more fiscal support as a share of GDP than Australia in revenue and expenditure terms…
Provide incentives for using the tracing app
Australia’s containment and social-distancing measures have, along with a relatively low base rate and comparatively high testing rate, allowed us to get the spread of COVID-19 under control. For now. The unanimous view of public health experts, epidemiologists and economists is that before relaxing any of those containment measures, we need to get the infection rate closer to zero, dramatically expand testing, and have highly effective and comprehensive contact tracing in place.
Covid-19 medical trial to treat thousands with HIV, malaria drugs
Patients hospitalised with COVID-19 will be treated with HIV and malaria drugs, perhaps even head lice treatment in a bid to keep them out of intensive care. A major clinical study led by Melbourne’s Doherty Institute for Infection and Immunity aims to treat every patient hospitalised with coronavirus infections over the next 18 months, estimated at more than 2500 people. The trial will extend through all hospitals in Australia…
Solving the mortgage debt crisis no one is talking about
The finance boffins within Team Australia have been working overtime to limit the damage of the Covid-19 lockdown. Treasury has been spending, the RBA has been lending, and banks have assured their customers they’ll be given more time to pay their debts if they lose income. The Covid-19 crisis has created new and complex challenges. One particularly vexing problem has been how to allow non-bank lenders to extend the same payment holidays to customers as the regulated banks without breaking strict rules that govern the securitisation trusts that mortgage bond investors back…
This bear market will be a generational wealth opportunity
The big unknown is how long will this last – not just the healthcare crisis, but the economic impacts. We’ve already seen enormous numbers of people lose their jobs in the US – close to one in 10 workers, which is staggering in such a short timeframe. You have to take some risk in times like this – generational wealth can be created in these markets…
Miners drive the great COVID-19 migration
Ray Chapman’s family didn’t think he was serious when, on the first day of this month, he warned that new limits on interstate travel could see them relocate 4500 kilometres away. They’re now serving two weeks of mandatory isolation in the WA town of Busselton, but the Chapmans are not alone. Thousands more Australians are adjusting to new lives in new states after the coronavirus triggered the hardest state borders since Federation, making it almost impossible to live in one state and work in another.
Government links for landlords & tenants
Relief for commercial tenants
The Government has announced a range of measures to help renters. This includes a temporary hold on evictions and a mandatory code of conduct for commercial tenancies to support small and medium sized enterprises (SMEs) affected by Coronavirus…
Legislation & directives for landlords & tenants
- Australian Capital Territory
- New South Wales
- Northern Territory
- Queensland
- South Australia
- Tasmania
- Victoria
- Western Australia
Government assistance links
JobSeeker, Youth Allowance and Parenting Payment
Financial help if you’re between 22 and Age Pension age and looking for work. It’s also for when you’re sick or injured and can’t do your usual work or study for a short time.
You may get a payment in any of the following circumstances. These include if you’re: not able to work or don’t have work, in isolation or hospitalised or caring for children…
JobKeeper Payment
The Government has announced a $130 billion JobKeeper payment to help keep more Australians in jobs and support businesses affected by the significant economic impact caused by the Coronavirus. Around 6 million workers will receive a fortnightly payment of $1,500 (before tax) through their employer. The payment ensures eligible employers remain connected to their workforce and will help businesses restart quickly when the crisis is over…
Working from home during COVID-19 tax shortcut
As the COVID-19 situation develops, we understand you may now be working from home and may incur expenses you can claim at tax time. We will accept a temporary simplified method of calculating additional running expenses from 1 March 2020 until at least 30 June 2020 (this may be extended). You can claim a deduction of 80 cents for each hour you work from home due to COVID-19, provided you meet these conditions…
