Author Archives: admin_aaafs

EXTENSION OF FIRST HOME BUYERS SCHEME SEES NEW PLACES FOR AUSSIES TO ENTER THE MARKET

AUTHOR: Derrick Evans

One of the biggest wins for prospective homeowners out of the recent Federal Budget announcement was the extension of the First Home Buyers Scheme as of July 1, 2021.

The scheme, which will see nationwide allocations of 10,000 places for existing homes and a further 10,000 places for new builds, means that eligible participants will be able to save as much as $14,000 in mortgage insurance right here in North Queensland.

Despite the welcome news of this scheme being extended, prospective applicants need to ensure they’re across the criteria needed in order before applying.

For both new builds and existing properties, applicants will need to prove themselves against eligibility factors including, but not limited to:

  • Citizenship status
  • Income
  • Limitations
  • Price of purchase
  • No prior ownership of property, including vacant land.

As proved with similar funding schemes in the past, it’s safe to say that the allocated spots won’t last too long so it’s important to make sure that you have all your ducks in a row come July. Ensure you’re tax ready, to give yourself the best chance of success, as you do need to be approved to be able to purchase your notice of assessment from the 2021 financial year.

Additionally, not all lenders or banks are participating in the scheme, but here at AAA+ Financial Solution, we have relationships with the two major banks that are participating and a number of the minor banks that are planning on getting involved.

Over the last few years, we’ve been successful when assisting many first-time buyers achieve their dream of home ownership through these schemes.

If you’re interested in finding out your eligibility, or need help in preparing your application, contact the expert team at AAA+ Financial Solutions on 07 4779 0662.

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Adaption Grants

SMALL BUSINESS ADAPTION PROGRAM OPEN

The Queensland Government’s Small Business Adaption Grant Program has opened round 2 of applications today. Up to $100 Million has been made available to deliver a second round of grants with half the funding is earmarked for regional small businesses outside of South East Queensland.

The objective of the program is to support small businesses subject to closure or highly impacted by the COVID-19 shutdown restrictions, to adapt and sustain their operations and build resilience.

The program aims to see small and micro businesses:

  • prepare for the safe resumption of trading in the post COVID-19 recovery;
  • access digital technologies to rebuild business operations and transition to a new way of doing business;
  • respond to online opportunities, where possible, to sustain employment and maintain potential for longer-term growth;
  • upskill and reskill business owners and staff to benefit from new technologies or business models;
  • embrace business diversification to adapt and sustain operations; and
  • create or retain employment.

Up to $10,000 is available. Services AAA+ Financial Solutions can assist you with:

  • strategic planning, financial counselling or business coaching aligned to business development and diversification
  • financial management to support business sustainability and diversification
  • review and implement best practice financial systems
  • resilience planning to safeguard for future events
  • asset management and funding

Eligibility criteria

To be eligible, the business must:

  • have been subject to closure or otherwise highly impacted by current shutdown restrictions announced by Queensland’s Chief Health Officer on 23 March 2020
  • demonstrate that business revenue has been significantly impacted since 23 March 2020 over a minimum 1-month period due to the onset and management of COVID-19
  • employ staff and have fewer than 20 employees at the time of applying for the grant
  • have a valid Australian Business Number (ABN) active as at 23 March 2020
  • be registered for GST
  • have a Queensland headquarters
  • have an annual turnover over $75,000 for the last financial year
  • have a payroll of less than $1.3 million
  • not be insolvent or have owners/directors that are an undischarged bankrupt.
Only 1 application per round will be accepted from an individual ABN or a financial beneficiary of a business.

Successful applicants from round one of this program cannot apply for funding under round two. If you have submitted a round one application but haven’t heard back yet, you are eligible to apply for round two.

To apply, visit here.

Small business adaption grant

SMALL BUSINESS ADAPTION GRANT ROUND TWO

The Queensland Government has announced an extension to the Small Business Adaption Grant Program. As a part of Stage Two of the government’s Economic Recovery Strategy, up to $100 Million is being made available to deliver a second round of grants. Half the funding is earmarked for regional small businesses outside of South East Queensland.

The objective of the program is to support small businesses subject to closure or highly impacted by the COVID-19 shutdown restrictions, to adapt and sustain their operations and build resilience.

The program aims to see small and micro businesses:

  • prepare for the safe resumption of trading in the post COVID-19 recovery;
  • access digital technologies to rebuild business operations and transition to a new way of doing business;
  • respond to online opportunities, where possible, to sustain employment and maintain potential for longer-term growth;
  • upskill and reskill business owners and staff to benefit from new technologies or business models;
  • embrace business diversification to adapt and sustain operations; and
  • create or retain employment.

Up to $10,000 is available. Services AAA+ Financial Solutions can assist you with:

  • strategic planning, financial counselling or business coaching aligned to business development and diversification
  • financial management to support business sustainability and diversification
  • review and implement best practice financial systems
  • resilience planning to safeguard for future events
  • asset management and funding

Eligibility criteria

To be eligible, the business must:

  • have been subject to closure or otherwise highly impacted by current shutdown restrictions announced by Queensland’s Chief Health Officer on 23 March 2020
  • demonstrate that business revenue has been significantly impacted since 23 March 2020 over a minimum 1-month period due to the onset and management of COVID-19
  • employ staff and have fewer than 20 employees at the time of applying for the grant
  • have a valid Australian Business Number (ABN) active as at 23 March 2020
  • be registered for GST
  • have a Queensland headquarters
  • have an annual turnover over $75,000 for the last financial year
  • have a payroll of less than $1.3 million
  • not be insolvent or have owners/directors that are an undischarged bankrupt.
Only 1 application per round will be accepted from an individual ABN or a financial beneficiary of a business.

Successful applicants from round one of this program cannot apply for funding under round two. If you have submitted a round one application but haven’t heard back yet, you are eligible to apply for round two.

Applications for the grant will be opened on 1 July 2020.

More information can be found here.

HOMEBUILDER A WINNER FOR REGIONAL QUEENSLAND

“It’s a fantastic opportunity for home owners or want-to-be home owners to reduce their mortgage stress and access into the market….”

Author: Ashley Evans

Over the past couple of days, we’ve had plenty of interest from the north west Queensland community around the Federal Government’s HomeBuilder program.

Essentially, it’s a $25,000 grant for eligible owner-occupiers (including first home buyers) aimed at supporting the residential construction market through the COVID-19 economic recovery. It’s also a fantastic opportunity for home owners or want-to-be home owners to reduce their mortgage stress and access into the market.

We’re encouraging those who are interested in the program to start looking at applying sooner rather than later. The grants have a life span of just seven months- for those with eligible applications and contracts signed between 4 June 2020 and 31 December 2020 and where construction commences within three months of that contract date.

In good news, HomeBuilder in uncapped- meaning the pool of money won’t run out before the December deadline arrives, as we have seen with other grants recently.

There is eligibility criteria that includes:

  • you are a natural person (not a company or trust);
  • you are aged 18 years or older;
  • you are an Australian Citizen;
  • you meet one of the following two income caps:

– $125,000 per annum for an individual application based on 2018-2019 tax return or later; or

– $200,000 per annum for a couple based on both 2018-2019 tax return or later; and

  • you enter into a contract signed between 4 June 2020 and 31 December 2020 and where construction commences within three months of that contract date.

The trusted team of Advisors at AAA+ Financial Solutions can assist you in the application process.

Please contact our team on 07 4779 0662 for more information.

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