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On this episode of The nestegg Podcast, the CEO of Industry Super Australia, Bernie Dean, shares his insights into the impact of COVID-19 on super funds.

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Bernie joins host Grace Ormsby to unpack how the economic downturn has been affecting different demographics, why many in the older age bracket are experiencing increased levels of anxiety, and what those people can do to preserve their nest egg and minimise their losses.

Bernie also delves into Industry Super Australia’s stance towards accessing superannuation early as part of the government’s stimulus measures, whether now is a good time for people with the means to contribute extra to their super, and industry fund plans for a road to recovery for both their members and the national economy.

Thanks Bernie, for sharing your insights with the nestegg podcast team!

You can keep up to date with what Industry Super Australia are up to HERE

Have an investment story to share? Get in touch at [email protected] and you might get featured on the next episode.

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Saturday, 06 June 2020

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Tasmania offers cash to self-isolators

By Grace Ormsby · March 18 2020

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Invest

Tasmania offers cash to self-isolators

By Grace Ormsby
March 18 2020

Reading:

Tasmania offers cash to self-isolators

By Grace Ormsby · March 18 2020

Reading:

One-off emergency payments will be provided to Tasmanians who are forced to self-isolate as a result of coronavirus.

State Premier Peter Gutwein has announced that individuals who self-isolate will be provided with $250, while families will be given $1,000.

In addition, the government has announced that it will be establishing an emergency accommodation support fund of $1 million for individuals and families placed on home quarantine but who are unable to return to their regular place of residence due to self-isolation measures being in place.

It’s part of a $420 million stimulus package proposed by the government that will see $2 million in primary health support provided to GPs and pharmacies, and a $1 million injection into frontline worker support for the provision of accommodation.

A further $1 million in grants will be provided to mental health organisations.

The package also aims to provide relief to small- and medium-sized businesses.

The package will comprise of $20 million in interest-free loans that will be available to small businesses in the hospitality, tourism, seafood and exports sectors and a waiving of payroll tax for the remainder of the financial year for those same businesses.

Other measures include $50 million in local government interest-free loans, and bringing forward of $50 million of public building maintenance work.

It comes after Western Australia and NSW announced their own stimulus packages yesterday, while Queensland said it was creating a loan facility for the support of businesses “most directly affected” by the pandemic.

The federal government last week unveiled its own $20 billion stimulus package.

At a press conference this morning, the Prime Minister indicated a second federal package is in the works – to be announced once all aspects have been “properly designed”.

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About the author

Grace Ormsby

Grace is a journalist on Momentum Media's nestegg. She enjoys being able to provide easy to digest information and practical tips for Australians with regard to their wealth, as well as having a platform on which to engage leading experts and commentators and leverage their insight.