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COVID-19: Our Support, Your Finance

COVID-19: Our Support, Your Finance

As the Government response to the coronavirus outbreak escalates on a daily, sometimes hourly basis, with increasing impacts across the community, we felt it timely to reassure you that you have our support with Jade Finance operating under our normal conditions for the foreseeable future.

Continuity of Jade Finance Services

  • All current finance applications will continue to be processed as usual.
  • Settlements will continue to be finalised as usual.
  • We do not anticipate any disruption to our services.
  • Should our team be ordered by government regulation to work remotely, the appropriate systems will be put in place with security measures, to enable continuity of our service.
  • It is an unknown factor what disruptions may occur to the services of our banks and lenders.
  • Should there be a delay in handling your finance due to a delay by the lender, your consultant will be working hard to resolve the issue and expedite your loan.
  • New finance and loan enquiries and applications are still being accepted and handled as usual.
  • You can contact us on 1300 000 003 or your consultant’s direct line.
  • If you are experiencing challenges around an existing loan due to the impact of COVID-19, contact your lender directly. There has been some narrative around leniency measures being applied by banks and lenders in these circumstances. We cannot provide specific details but recommend you contact your lender.

Government Stimulus Finance Packages

  • The Federal Government has announced a stimulus package with benefits to some individuals and businesses.- details
  • Payments for individuals and households
  • Cash flow assistance for business – details
  • Support for business investment – details

Business Stimulus: Explained

Our team has analysed the business stimulus package and identified a number of opportunities for our customers who are considering asset acquisitions.

Instant Asset Write-Off: The Government is increasing the instant asset write-off (IAWO) threshold from $30,000 to $150,000 and expanding access to include all businesses with aggregated annual turnover of less than $500 million (up from $50 million) until 30 June 2020.

What this means for your business…

Under a Chattel Mortgage Loan, if you finance equipment, cars, trucks, boats, caravans, etc that are tax deductible you will be able to claim 100% of the depreciation on the goods up to a value of $150k. Then claim the interest back as you pay it off.

If you would like to take advantage of this opportunity, please speak with one of our Jade consultants to discuss a Chattel Mortgage for your asset purchase.

State Government Stimulus Finance Packages

Several state governments have indicated that they will be releasing their own stimulus packages in addition to the federal package. Our team will be across developments in this space and will advise you of any aspects related to finance and lending.

 

We strongly recommend that you stay across the government advisories in regards to protecting yourself and family against COVID-19. The scenario is fast-moving and updates are being issued through all media on a very regular basis.

Be sensible, follow the directions from authorities and stay well and safe!

 

Your Jade Finance Team

DISCLAIMER: THE INFORMATION PROVIDED IN THIS PUBLICATION IS INTENDED AS AN OPINION AND A GUIDE ONLY. IT IS NOT INTENDED AS FINANCIAL ADVICE. CONTACT YOUR FINANCIAL ADVISOR FOR PROFESSIONAL ADVICE ON YOUR SITUATION.

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