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On this episode of The nestegg Podcast, host Maja Garaca Djurdjevic and three experts discuss whether owner-occupiers should withdraw from the property market, the effects of Tuesday blues on the ASX, upcoming super changes and more.

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Steve Waters, director of Right Property Group, chats about current property price movements and whether owner-occupiers are being priced out of the market.

RMIT’s senior lecturer of finance, Dr Angel Zhong, delves into the Tuesday blues effect and the implications for Aussie investors.

And lastly, tax and super guru Timothy Munro talks about upcoming super changes and shares his handy checklist ahead of tax time.

Have a question for our experts? Get in touch at [email protected] and you might get featured on the next episode.

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Invest

Melbourne lockdown extended as state seeks JobKeeper-style help from federal govt

By Maja Garaca Djurdjevic

June 02 2021
Share

Invest

Melbourne lockdown extended as state seeks JobKeeper-style help from federal govt

By Maja Garaca Djurdjevic
June 02 2021

Victoria is not exiting lockdown at 11.59pm on Thursday, after it recorded an additional six locally acquired cases on Wednesday, taking the total number to 60.

victorian lockdown extended as state fights to contain rapidly spreading virus strain

Melbourne lockdown extended as state seeks JobKeeper-style help from federal govt

By Maja Garaca Djurdjevic

June 02 2021
Share

Victoria is not exiting lockdown at 11.59pm on Thursday, after it recorded an additional six locally acquired cases on Wednesday, taking the total number to 60.

Parts of Victoria will remain in lockdown for another 7 days as the authorities race to contain the extremely infectious strain of COVID spreading throughout the state. Victoria's Treasurer is also on the phone to Treasurer Frydenberg for JobKeeper style support for Victorians, but more will be known once the talks have been completed, the Acting Premier said on Wednesday.

The terms of the lockdown will change slightly for Melbourne, but city-based businesses will be required to keep their doors shut for another week. In regional Victoria, however, the restrictions will ease as of Thursday midnight.

Melburnians will only be able to leave home for five reasons, including authorised work, caregiving, compassionate and medical reasons, essential shopping and exercise, and for vaccination purposes. They will, however, have an expanded 10 km radius, up from the 5 km currently in place, while students in years 11 and 12 will return to face-to-face learning on Friday.

All hospitality venues in the state capital will have to keep their doors locked for another 7 days, but will be permitted to provide takeaway, while non-essential retail will only be open for click and collect. Gyms, hairdressers, community facilities and entertainment venues, are also expected to remain closed at least for another week.

Shops like supermarkets, food stores, bottle shops, banks, petrol stations and pharmacies will however continue to operate as usual.

A number of outdoor jobs will be added to the exempted list, such as gardening.

Rules for regional Victoria

From 11.59 pm on Thursday, restriction will ease in regional Victoria, with Victorians able to leave home for reasons other than the 5 in place in Melbourne.

Food and hospitality will also open for seated visits only, with a cap of 50 patrons. Retail and beauty services will also resume services where masks can be worn.

"Businesses that are open in regional Victoria but closed in Melbourne, so restaurants and beauty, for example, must check the IDs of everyone they serve," Mr Merlino said.

Regional Victorians will also be permitted to travel to Melbourne but only for "a permitted reason".

Outdoor gatherings will no longer be limited to two people, but a cap of 10 will be in place from Friday.

Moreover, outdoor entertainment will have a patron cap of 50 people or 50 per cent of the venue's seating capacity, whichever is lower.

Further support

As debate about the need to resurrect JobKeeper continues, Victoria is upping support for businesses with a further $209 million on top of the $250.7 million already announced to help up to 90,000 Victorian businesses that have been affected by the restrictions.

The package features three initiatives for small- to medium-sized businesses and sole traders.

In announcing the additional support, Acting Premier James Merlino said he knows businesses are doing it tough, but the lockdown is necessary.

“The circuit-breaker action will keep Victorians safe and protect businesses and jobs — but we know it’s not easy shutting your doors and putting your plans on hold,” the acting Premier said.

“This support will help businesses pay the bills and maintain their workforce as best they can, as we work together to get through this challenge.”

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About the author

Maja Garaca Djurdjevic

Maja Garaca Djurdjevic is the editor of nestegg and Smart Property Investment. Email Maja at [email protected]

About the author

Maja Garaca Djurdjevic

Maja Garaca Djurdjevic is the editor of nestegg and Smart Property Investment. Email Maja at [email protected]

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