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AAA+ Financial Solutions

HOW A TAILOR-MADE FINANCIAL SOLUTION HELPED A FARMING FAMILY THROUGH ITS DARKEST HOUR

 

“The ability to be able to help such a wonderful family in their time of need was an incredible feeling….”

AUTHOR: Ashley Evans

A week before Christmas in 2018, the Gunn family’s life was forever changed in an instant.

Katelin Gunn had finished the school year and not long returned to the family farm, Mt Cooper Downs, located 650 kilometers west of Adelaide on the Eyre Peninsula. Katelin was travelling across the farm in the family’s Landcruiser when she was thrown from the vehicle.

Tragically, she suffered life threatening injuries which resulted in her becoming a paraplegic. Katelin required a six month stay in hospital and faced a long road to rehabilitation.

Her parents, Dad Stuart and Mum Julie, quickly realised they would need to urgently buy a home in Adelaide for Julie and Katelin’s siblings to live in while they supported her recovery efforts. It was decided Stuart needed to stay on the farm and keep the family business going.

As the fourth generation Gunn to own Mt Cooper Downs, Stuart had expanded the family sheep farm to over 25,00 acres, with crops now including wheat, barley, lentils and canola. It’s a highly successful operation and having been with the same Big 4 Bank for several generations, it never occurred to Stuart that the loan for a home in Adelaide would be rejected.

The news came as a major blow.

Already devastated about the accident and unable to see a way forward, Stuart says my name popped into his mind out of nowhere. We’d gone to school together decades earlier and he recounts that he remembered that I was doing “something in the finance industry”.

When I got Stuart’s call out of the blue, we could have been sitting at the same table rather than some 2,600 kilometers away from each other. His devastation was heartbreaking and I made a promise to him that I’d do everything in my power to help.

The AAA Financial Solutions team quickly sprung into action. With decades of combined experience in the industry, we used our contacts and extensive networks to plot a path forward that would give Stuart and his family some peace of mind during what was an incredibly difficult time.

When the final approvals came through for the purchase of the Adelaide home loan, we were ecstatic. The ability to be able to help such a wonderful family in their time of need was an incredible feeling.

While Katelin and the Gunn family still face challenges they wouldn’t have even been able to comprehend before the accident, the family has a home and safe place to retreat to at the end of the day.

Playing a role in that has been an honour and a humbling experience to say the least. At the end of the day, it is outcomes like this that drive us to continue to be so passionate about what we do.

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ABOUT THE AUTHOR:

Ash is an experienced lending manager and agricultural specialist.

Originally from Adelaide, he has had the pleasure of working with regional industries across Australia.

Specifically, after taking an interest in North and Western Queensland, Ash co-founded the AAA Group and has played a fundamental role in the success of small business in the area.

Throughout his 30-year career, Ash continues to cherish his wealth of professional relationships. Naturally, this has fuelled his desire to connect remote business owners with the professional assistance they deserve.

IS THE INSTANT ASSET WRITE OFF THE RIGHT MOVE FOR YOUR BUSINESS?

“It provides businesses with an incentive to gear up with new vehicles and equipment to grow and develop their business, while providing a strong tax benefit via writing off the total amount of the purchase in the current year… Conditions apply!”

AUTHOR: Ashley Evans

A formidable lever that emerged from the Federal Budget was the changes to the Instant Asset Write Off Scheme which are designed to help pull local businesses out of the recession and reignite the economy.

It effectively means businesses can purchase new plant, equipment or fleet vehicles under $5M and be able to claim it back against their tax rate.

The initiative is important because it provides businesses with an incentive to get back to operations as quickly and financially as possible.

It also means that for those businesses that are seeing a reasonable profit this financial year and choose to increase their equipment or fleet, it can assist them to add depreciation thereby also providing a financial incentive to buy now. This will have the flow on effect to stimulate the vehicle and equipment sector of all industries.

While at face value the Instant Asset Write Off Scheme is a home run and has plenty of merit to it, the last thing financial professionals want to see is misinformed small businesses losing out because the facts weren’t initially clear.        

This is why we do encourage anybody considering taking advantage of the Scheme to speak to their trusted advisor and ensure that the finer details are worked through and there are no hidden surprises, especially for those Mum and Dad businesses.

https://www.aaafs.com.au/

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ABOUT THE AUTHOR: Ash is an experienced lending manager, and agricultural specialist. Originally from Adelaide, he has had the pleasure of working with regional industries across Australia. Specifically, after taking an interest in North and Western Queensland, Ash co-founded the AAA Group and has played a fundamental role in the success of small business in the region. Throughout his 30-year career, Ash continues to cherish his wealth of professional relationships. Naturally, this has fueled his desire to connect remote business owners with the professional assistance they deserve.

PERFECT CONDITIONS TO CRACK INTO THE PROPERTY MARKET

“It’s hard to tell where we’re sitting in the commercial property market, but it’s safe to say it is an attractive time to consider buying your own property.”

AUTHOR: Ashley Evans

Never in my 32 years in the finance industry have I seen the stars align as they have right now. Between the lowest interest rates in history and the government grants on offer, it has never been a better time to consider purchasing property.

Whether you’re looking to invest in commercial space or considering making the move towards home ownership, the timing is right to take the plunge.

With interest rates so low commercial property is a very attractive proposition. Interest rates likely to be between 3-4% for commercial property at present, whether it is for owner occupiers or investors. People who are leasing their own commercial premises, in the under the million-dollar range are typically paying rent at a six or seven per cent capitalisation rate. With interest rates like to be between 3-4%, even when considering Council rates and insurances, the numbers will likely stack up in your favour to consider buying your own premises. Even from an Investment point of view the numbers are quite attractive as outlined above.

In recent years, with the market so volatile, commercial premises have also taken a hit in price which means it’s a good time to be buying. It’s hard to tell where we’re sitting in the commercial property market, but it’s safe to say it’s an attractive time to consider buying your own property.

The proof is in the pudding, with many AAA+ Financial clients who have recently taken the plunge already seeing the benefits for themselves. In my experience, nine times out of 10 if you take that calculated risk to purchase property, capital gains will be seen in the medium to long-term.

However, it’s not just commercial properties that are attractive purchases now, homeowners and homebuilders are seeing enormous gains when taking advantage of the wide variety of government stimulus that is currently up for grabs.

Between the First Home Buyer Grant $15,000, and First Home Loan Deposit Scheme providing a Government Guarantee of up 15% of the purchase price, assisting to remove the cost of Mortgage insurance (saving potentially of up to $17,000). The Home Builder Grant at $25,000, the Regional Buyer Grant at $5,000, some purchasers are seeing savings of up to $60,000 towards their first home.

While not every grant is going to work for every buyer, it is important to do your research about what is on offer because at the end of the day, every dollar counts.

So, if this is something you’ve been considering but are unsure where to start, come and have a chat with us at AAA+ Financial Solutions https://www.aaafs.com.au/

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ABOUT THE AUTHOR: Ash is an experienced lending manager, and agricultural specialist. Originally from Adelaide, he has had the pleasure of working with regional industries across Australia. Specifically, after taking an interest in North and Western Queensland, Ash co-founded the AAA Group and has played a fundamental role in the success of small business in the region. Throughout his 30-year career, Ash continues to cherish his wealth of professional relationships. Naturally, this has fueled his desire to connect remote business owners with the professional assistance they deserve.

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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New support available

NEW SUPPORT AVAILABLE

 

 

The Queensland Government has announced a new Small Business Adaption Grant Program.

The objective of this program is to support small businesses subject to closure or highly impacted by the coronavirus (COVID-19) shutdown restrictions announced by the Queensland Government, 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
  • create or retain employment.

Available funding

The available grant amount is up to a maximum of $10,000 per eligible small or micro business.

In recognition of the significant impacts of COVID-19 on small businesses, the funding can be used towards the following:

  • financial, legal or other professional advice to support business sustainability and diversification
  • strategic planning, financial counselling or business coaching aligned to business development and diversification
  • building the business through marketing and communications activities, for example, content development (web pages, mobile apps, visual and audio media etc.)
  • digital/technological strategy development
  • digital training or re-training to adapt to new business models
  • capital costs associated with meeting COVID-19 SAFE requirements
  • specialised digital equipment or business specific software to move business operations online (e.g. logistics program for online ordering)
  • meeting business costs, including utilities, rent.

Note: Grant funds can also be used towards any of the above activities occurring from 23 March 2020 onwards, keeping in mind the project must be completed within a maximum of 6 months from the date of approval.

Once the program budget has been fully allocated, applications for the program will close. It is estimated that approximately 10,000 small businesses will be supported through this program.

Applying small and micro businesses must meet the eligibility and assessment criteria to be considered for 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 will be accepted from an individual ABN or a financial beneficiary of a business.

Successful applicants cannot reapply for funding under this grant program.

Applying for the grant

To apply, complete the following steps:

  1. read the eligibility criteria
  2. read the application guidelinesterms and conditions
  3. apply using the SmartyGrants link:

Apply now