The McGowan Government has today announced a $72 million package for businesses most impacted by Level 2 public health and social measures, taking the total committed to COVID business support to almost $1.7 billion.
The Level 2 COVID-19 Business Assistance Package includes a $66.8 million Small Business Hardship Grants Program, $2.8 million of payroll tax relief for large hospitality businesses and $2.1 million for a COVID-19 Commercial Sporting Franchises Support Program.
The Small Business Hardship Grants Program will provide tiered grants to businesses that have a 50 per cent or greater reduction in turnover for any four week period between January 1, 2022 and April 30, 2022, relative to the same period last year. This will include:
$3,000 grant for sole traders (no employees);
$7,500 grant for micro businesses (those with one to five employees);
$20,000 grant for small businesses (those with six to 19 employees); and
$50,000 for medium-sized businesses (those with 20 or more employees and with an annual payroll of up to $4 million).
This program will provide support to all eligible businesses that meet the criteria – including the hospitality, arts and events industries.
This follows support provided through a number of recent arts and events support programs, including the revamped $10 million Getting the Show Back on the Road+ program, $3 million Event Suppliers Support Program, the $1.3 million Performing Arts, Theatres and Cinemas Assistance Program, and an additional $9 million to attract major events to WA.
Eligible businesses that apply and receive funding from other recent business support programs, including the Level 1 COVID-19 Business Assistance Package, are also eligible to receive grants from the Level 2 package.
Large hospitality businesses with payrolls of between $4 million and $20 million will receive a three-month payroll tax waiver if they have experienced at least a 50 per cent drop in turnover over any four week period between January 1, 2022 and April 30, 2022, comparable to the same period last year.
The $2.1 million COVID-19 Commercial Sporting Franchises Support Program includes a $35,000 rebate per game for venue hire costs until June 30, 2022, for commercial sporting franchises, such as the Perth Glory, Perth Wildcats, Perth Lynx and the Western Force.
This program also includes the waiver of public transport charges for home games for these teams in March – and a 50 per cent concession on public transport costs for events in April.
This waiver of public transport charges will also benefit a number of upcoming live music events.
It is expected that applications to these programs will open later this month. If you require any assistance in assessing your eligibility, or believe you are eligible for the package and require assistance in applying, please contact one of our Team on (08) 9316 7000 to discuss.
Posted on February 25, 2022 by Christabelle Harris
Beginning 1 November 2021, Company directors are required to verify their identity and apply for a Director Identification Number (director ID) in an effort to deal with illegal phoenix activities and improve the traceability of company directors over time.
Included as part of the Treasury Laws Amendment Act 2020 by the Australian Government, the measure is also intended to cut down on the use of false or fraudulent director identities by assigning a unique ID to directors that lasts forever.
While the new regime commenced on 1 November 2021, existing directors may register without penalty at any time up to 30 November 2022 (30 November 2023 in the case of directors of Aboriginal Corporations). Directors appointed post-1 November 2021 must apply for an ID prior to becoming a director.
What is a director ID?
A director ID is a 15-digit identifier given to a director, or someone who intends to become a director, who has verified their identity with the Australian Business Registry Services. This will be used to trace relationships to companies over time. Directors need to apply for their own ID and they will only ever have one, which they will keep forever.
Who is required to hold a director ID?
A director ID is required if an individual is an eligible officer of:
A company, a registered Australian body or a registered foreign company under the Corporations Act 2001 (Corporations Act)
An Aboriginal and Torres Strait Islander corporation registered under the Corporations (Aboriginal and Torres Strait Islander) Act 2006 (CATSI Act).
An eligible officer is a person who is appointed as:
A director
An alternate director who is acting in that capacity.
A person who expects to become an eligible officer within 12 months may apply for an ID (if they do not already hold one). Once registered, that person has 12 months to be appointed as an eligible officer or their ID will be made inactive.
How do directors apply for an ID?
Step 1
Applicants will require a myGovID to apply for the director ID online.
(Please note – a myGovID is different to a myGov account.)
If you do not have a myGovID, you can find information and instructions on how to download the app at https://www.mygovid.gov.au/set-up.
If you cannot obtain a myGovID, you can instead apply for a director ID via the following two methods:
By phone if you have an Australian Tax File Number
By completing a paper form and providing certified (translated) copies of your documents to verify your identification.
Step 2
Applicants will need to provide details such as:
Individual Tax File Number (optional)
Residential address (as recorded with the ATO)
Answer to 2 questions, where details are know by the ATO, such as:
o Bank account details o An ATO notice of assessment o Super account details o A dividend statement o A Centrelink payment summary o PAYG payment summary.
Applications for a director ID are now open. Both existing and new directors will need to apply in accordance with the following dates:
Corporations Act Directors
Date you become a Director
Date you must apply
On or before 31 October 2021
By 30 November 2022
Between 1 November 2021 and 4 April 2022
Within 28 days of appointment
From 5 April 2022
Before appointment
CATSI Act Directors
Date you become a Director
Date you must apply
On or before 31 October 2022
By 30 November 2023
From 1 November 2022
Before appointment
When do directors need to use the ID?
The director ID needs to be provided to the corporation’s record-holder, which can be the company secretary, another director or an authorised agent of the company. If appointed as a director of any other companies in the future, directors will also need to give their ID number to the people responsible for maintaining the records of those companies.
Directors must also inform the Registrar of any changes to the information attached to their ID.
Registrars will in turn lodge the details of each director with the governing body (ASIC or ORIC), however the method for lodging these details is yet to be published.
What happens if directors fail to comply?
Failing to hold a director ID may result in an infringement notice or possible civil and/or criminal prosecution. The maximum penalties are 60 penalty units ($13,320 at the current penalty unit rate of $222) and 1 year imprisonment. Certain offences may also be applied against those involved in a contravention, which could include the eligible officer’s advisers. Additional breaches include if a director: Fails to comply with a direction from the Registrar Applies for multiple director ID’s Provides a false ID Misrepresents their ID Provides false or misleading information.
Additional breaches include if a director:
Fails to comply with a direction from the Registrar
Applies for multiple director ID’s
Provides a false ID
Misrepresents their ID
Provides false or misleading information.
What do I do with my directors ID?
Once you have successfully attained your Directors ID please contact our office and we will take the necessary steps to record your ID with ASIC or ORIC.
If you require any assistance with your application or would like more information on the new initiative, please contact our office on (08) 9316 7000.
