Director Identification Number – A permanent identifier under new laws

The Australian Federal Government has implemented legislation to combat illegal phoenix activities by company controllers which includes the requirement for company directors to obtain a Director Identification Number (DIN). Applying for DIN An ‘eligible officer’ (a director, alternate director or any other officer of a registered body of a kind prescribed by regulations) must apply […]

Explanatory Memorandum – June 2020

Treasury revises down estimated JobKeeper cost by $60 billion The ATO and Treasury have released a joint statement advising that the previous estimate of the number of employers who would access the JobKeeper program was significantly overstated. Treasury now estimates the number of employees likely to be covered under the JobKeeper program to be around 3.5 million […]

Client Alert – June 2020

Treasury revises down estimated JobKeeper cost by $60 billion The ATO and Treasury have released a joint statement advising that the previous estimate of the number of employers who would access the JobKeeper program was significantly overstated. Treasury now estimates the number of employees covered under the JobKeeper program to be around 3.5 million (down from a […]

Being ‘stood down’ is not being sacked

Accountants are fielding lots of questions in the COVID-19 shutdown. One of the most confusing is about standing down staff. IN BRIEF – While being ‘stood down’ sounds like a retrenchment or redundancy, it is not the same. Standing down measures are being used to try to save companies from going under and, ultimately, retain […]