Stimulus package - What does this mean for you?

Over the weekend, the Government announced the Coronavirus stimulus relief package to support Australians and the economy weather through the financial impacts from COVID-19. You can read about the announced measures here.

We are considering the implications relevant to your financial situation as the detail is made available to us. Some specific strategies we are considering include the following:

  • Reduce pension fund payments to the new lower minimum pension requirement (i.e. half). This aims to avoid the need to sell down assets in the current market to fund pension payments that are unnecessary.

  • Update Centrelink with the latest account balance for pension and investment funds for potential increase in Age Pension payments.

  • For non-retirees, access to funds from super.

  • Business investment incentives and support.

Please bear with us while we analyse and understand these measures and how they could impact you. We will be in contact when we have more clarity on these measures.

Stay well!

Yihsing and the OakWealth Team

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Head Office: Suite G.01

313 Canterbury Road

Canterbury  VIC  3126

By appointment, we can also meet with you via virtual options like Skype or GoToMeeting, or in person at locations in the Melbourne CBD, Mount Waverley and Southbank. 

(03) 9882 8288 |


OakWealth is an FPA Professional Practice. Oak Wealth Solutions Pty Ltd is an Authorised Representative of GWM Adviser Services Ltd (AFSL 230692)


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Copyright © 2018 Oak Wealth Solutions Pty Ltd.  All rights reserved.  Yihsing Koo, Oak Wealth Solutions Pty Ltd (ACN: 143 070 946) ATF Oak Wealth Solutions Unit Trust (ABN: 657 966 722 37) and Oak Wealth Planning Pty Ltd (ACN: 158 930 422) ATF Oak Wealth Planning Unit Trust (ABN: 97 916 959 977) are Authorised Representatives of GWM Adviser Services Ltd (ABN: 96 002 071 749), Australian Financial Services Licensee, 105 - 153 Miller Street, North Sydney NSW 2060.

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