Australia’s battle with the COVID-19 health crisis has been remarkable, we are truly the lucky country having flattened the curve to the point where there are only a handful of new cases per day. However, the war has only just begun with the real fight ahead being to kickstart the economy, with the lingering threat of spikes in infection and very little chance of our international borders opening again any time soon.
While equity markets took a breather from recent gains this week, there remains a disconnect between markets that seem to be pricing a quick recovery and the real economy. The economic news over the next couple of months will be dismal, so there will be plenty of triggers for disappointment. The true impact will not be apparent until loan repayment holidays and Job Keeper are withdrawn, the only way to navigate what lies is head is to be cautious and invest with a long term lens.
The last few months have provided us all with opportunities to reflect. Planning for what may or may not lie ahead is important, particularly your household cash flow and balance sheet. In terms of more immediate steps, it’s hard to believe we are coming up to 30 June and preparing for the end of the financial year. On this front, I will be in touch with everyone to discuss super contributions, pensions (where applicable) as well as other aspects of tax planning such as managing capital gains tax.
Please do not hesitate to reach out and book a meeting on Zoom, the technology works really well and it’s a great way of staying in touch. You can book a time directly in my diary for a catch up by clicking the link below:
Book a meeting with Rob
The information provided should not be considered personal financial advice as it is intended to provide general advice only. The content has been prepared without taking into account your personal objectives, financial situations or needs. You should seek personal financial advice before making any financial or investment decisions.