More restrictions expected tonight

[bright.ton42]

Another National Cabinet Meeting scheduled for tonight.

https://www.theguardian.com/australia-news/2020/mar/24/morning-mail-lockdowns-on-agenda-rapid-testin...

It is expected we will move from Phase1 to Phase 2 or more of restrictions.

Good.  Whatever it takes.

[rogespeed]

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@lyhargr_0 wrote:

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@eol-products wrote:

sole traders can apply for the new supplement if they earn below $1000/ fortnight

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Surely most sole traders would be earing more than 500 bucks a week

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Sole traders draw outputs from the business for a wage , the sum total being what they choose - is not always the nett capital gain of the business.

[chameleon54]

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@eol-products wrote:

I was going to jump on payment deferral but will wait till I can refinance back to interest only in a few months depending on which way things go as far as spending. 

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My understanding is if you go on payment deferral, you can still fix the interest after the six month deferral period. The advantage of this is it is possible interest rates will be even lower than today if the reserve bank does more quantative easing. Its highly likely this will happen.

[eol-products]

I noticed the banks offering a low fixed rate of 2.29% for 1-3 years which makes me question why as it is well below variable rate. If enough get in trouble the banks will have to go low on the rates to stop defaults as there is no way they could handle too many at once. 

I plan to wait a few months and see where things go as I honestly can't tell if this will be a 3 month or a 6 month shutdown and at somepoint the switch may not work when they go to turn it back on.

My only saving grace is if Kevin could get us through the GFC Scott should have non problems.

[*kazumi*]

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@rogespeed wrote:

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Landlording is a business so the house owners will be able to apply for Govt assistance , also the banks will help with their business loans etc 

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yes, now they can but in normal circumstances, they cannot.  But even now, it will be a long process.  I know old people who have a rental property, and some small amount from their super, when the rent is late they do not have enough to live on.   When they had bad tenant who was regularly late; they always stressed about whether the rent will be there or not, and when it was not there, how soon should they start sending letters.  They were worried they will not be able to pay for their power and gas. 
I really do not get it why people think that being late with rent  is OK.  They would not go to shop and say, i pay when I can.  

I am NOT talking about now.