Ellann Finance

29/10/2021

Hello everyone,

As you’re aware I am not one to make frequent posts to my company profiles, however I am making an exception for this announcement.

Insignia Finance is now Ellann Finance.

This is a name change only and the business remains the same in all other aspects.

I will be continuing to provide personalised finance solutions to my current clients and look forward to meeting new people.

As always I am happy to take your phone call 08 6365 2618 should you have any questions.

10/04/2020

The first column under the heading ‘8-Apr-20’ has market reference interest rates for terms out to 5 years – not one is over 1%...extraordinary times indeed!

06/04/2020

The Australian Banking Association (ABA) has made official its approach to credit reporting through the COVID-19 crisis, with the primary driver of its decision being alleviating stress for Australian customers.

Borrowers who are granted a six-month deferral on loan repayments will not have their credit rating affected as a result of the holiday, so long as they were up to date with repayments prior to the economic impact of COVID-19.

“If a customer is granted a deferral on their mortgage and other credit products because of COVID-19, banks will report customers as not having missed a repayment, provided they were all up to date when granted relief,” explained ABA CEO Anna Bligh.

20/03/2020

Commonwealth Bank has today announced a package of support for all home loan customers. This package includes the option to defer Home Loan repayments for up to 6 months, with interest capitalised.

In addition, for the customers you support there's a few options available. This includes accessing their redraw facility, considering a repayment holiday, reducing repayments to the minimum monthly repayment amount, or applying to change their repayments to interest only payments.

Should customers wish to seek deferral of Home Loan repayments this can be sourced online at commbank.com.au/coronavirus.

We have plans in place to continue to provide financial support during these challenging times.

20/03/2020

China reported no new cases of coronavirus due to local transmission for the first time since the crisis emerged.

19/03/2020

How will the ATO is assisting you through COVID-19 Outbreak?

The Australian Taxation Office (ATO) will implement a series of administrative measures to assist Australians experiencing financial difficulty as a result of the COVID-19 outbreak.

I recommend my clients run their business & personal budgets immediately to identify any cash deficiencies in the near future, and to work out a plan to reduce the cash deficiencies if possible.

If the deficiency will cause financial distress, options available to assist businesses:

- Deferring by up to four months the payment date of amounts due through the business activity statement (including PAYG instalments), income tax assessments, fringe benefits tax assessments and excise.

- Allow businesses on a quarterly reporting cycle to opt into monthly GST reporting in order to get quicker access to GST refunds they may be entitled to.

- Allowing businesses to vary Pay As You Go (PAYG) instalment amounts to zero for the March 2020 quarter. Businesses that vary their PAYG instalment to zero can also claim a refund for any instalments made for the September 2019 and December 2019 quarters.

- Remitting any interest and penalties, incurred on or after 23 January 2020, that have been applied to tax liabilities.

- Working with affected businesses to help them pay their existing and ongoing tax liabilities by allowing them to enter into low interest payment plans.

Note: employers will still need to meet their ongoing super guarantee obligations for their employees.

16/03/2020

The Government’s Stimulus Package announced on Thursday 12 March 2020 is targeted and temporary.

Read the full Media Release here: https://www.pm.gov.au/media/economic-stimulus-package

It is focused on keeping Australians in jobs and helping small and medium-sized businesses to stay in business.

I hope everyone is taking necessary precautions according to the health department and staying healthy during the outbreak, if you require assistance, or are financially stressed, I am only a phone call/email away!

WA Premier Mark McGowan says all household fees and charges — including electricity, water and vehicle registration — will be frozen as part of a major economic relief package to tackle the COVID-19 emergency.

03/03/2020

RBA cuts by 0.25% to 0.50%. Westpac to pass on in full