Author: Nick Navarra

On 30 Janaury 2022, the NSW State Government announced additional support for businesses impacted by the Omicron wave under four (4) initiatives:

1. a new 2022 Small Business Support Program;
2. an expanded small business fees and charges rebate;
3. extending the Commercial Landlord Hardship Grant; and
4. extending the NSW Performing Arts Relaunch Package.

2022 Small Business Support Program

Under this new program, eligible small businesses will receive 20% of their weekly payroll for the month of February 2022, with a minimum repayment of $750 per week and a maximum payment of $5,000 per week. Non-employing businesses will receive $500 per week paid as a lump sum of $2,000. Businesses will be able to apply through Service NSW from mid-February 2022 and will be paid as a lump sum.

To be eligible, employing businesses must satsify all of the following criteria:

1. be a small business with turnover of between $75,000 and $50 million;
2. experience a decline in turnover of at least 40% for the month of January 2022 compared to January 2021 or January 2020;
3. experience a decline in turnover for the first fortnight in February 2022 compared to the first fortnight in February 2021 or February 2020; and
4. maintain their employee headcount from 30 January 2022.

Expanded Small Business Fees & Charges Rebate

The NSW Government has increased the Small Business Fees & Charges Rebate from $2,000 to $3,000 and can now be used to cover half of the cost of Rapit Antigen Tests. This rebate can also be used to subsidise other fees and charges including:

• food authority licences;
• liquor licences;
• tradesperson licences;
• event fees;
• outdoor seating fees;
• council rates; and
• road user tolls for business use.

Extended Commercial Landlord Hardship Grant

This grant has been extended for an additional two (2) months to 13 March 2022 and provides grants of up to $3,000 per month, per property, for eligible landlords who have provided rent relief to affected tenants.

Commercial landlards can apply for this grant through Service NSW.

Extended NSW Performing Arts Relaunch Package

This support package has been extended from 14 February 2022 until 30 April 2022 and is aimed at relaunching the performing arts sector. Funding under this package is potentially available to:

1. an eligible venue;
2. a producer of en eligible performance scheduled to perform at an eligible venue; and
3. a promotor of an eligible performance scheduled to perform at an eligible venue.

Applicants for the extended NSW Performing Arts Relaunch Package can apply here.

Questions?

If you would like to discuss any of the above support measures, please feel free to get in touch with Navarra Kovac on (02) 8824 8422 or info@navarrakovac.com.au.

Introduction

All persons holding the role of a company director will soon be required to be identified by a unique Director Identification Number (“Director ID”). Your Director ID will be a unique identifier that you need to apply for and keep permanently – similar to a tax file number.

The introduction of Director IDs is the first step of the Modernising Business Registers (“MBR”) Program which will unify the Australian Business Register (“ABR”) and the 31 registers currently administered by the Australian Securities & Investments Commission (“ASIC”) into a single contemporary digital registry system to be called the Australian Business Registry Service (“ARBS”) which will be administered by the Australian Taxation Office (“ATO”).

What do you need to do?

If you are currently acting as a director of a company registered with ASIC or will become a director in the future, you will need a Director ID. Persons who only hold the role as a company secretary do not require a Director ID.

The following timetable sets out the dates by which directors will need to have obtained their own Director ID:

Whilst you may have some time to obtain your own Director ID number, we recommend that you attend to this as soon as possible to avoid any potential difficulties that may arise during either the myGovID application process or the actual Director ID application process.

Civil or criminal penalties may apply for directors who do not comply with Director ID requirements including failing to obtain your Director ID within the required time periods. These penalties include material financial penalties and even jail time depending on the nature of the breach.

How to apply?

The easiest way for Australian directors to apply for their Director ID number is online. To do this, directors will need to have a myGovID account with either a “Standard” or “Strong” identity strength. Please note that myGovID is different to myGov which you may already have.

The following link sets out how to apply for your Director ID if you are an Australian Director:

https://www.abrs.gov.au/director-identification-number/apply-director-identification-number

Important note:Please ensure that all details (e.g. name, address, date of birth, place of birth, etc) are correct when setting up myGovID as it will be these details that will ultimately need to be linked to your company director records. If you are a director of multiple companies, it may be worth checking details listed with each company to ensure that details used to apply for your Director ID are as consistent as possible to minimise the need to update ASIC registers afterwards (see below).

Foreign directors will need to apply for their Director ID via a paper application which can be accessed using the following link:

https://www.abrs.gov.au/director-identification-number/apply-director-identification-number/verify-your-identity

After you have applied for your Director ID

In late 2023, the ARBS will commence the process of linking Director ID’s to individual companies. Prior to this, it will be essential to ensure that your personal details on file with ASIC are up to date and consistent with your myGovID record. This extends to ensuring that personal details are consistent across each company that you are a director. We note that where a person is a director of multiple companies, it is currently not uncommon to see discrepancies with names (e.g. shortened names or incorrect spelling), addresses, date of births and place of births. It will be essential that all these details are brought up to date and are consistent with your myGovID record before the linking of Director ID’s to individual companies commences.

Questions?

Should you have any questions in relation to Director ID requirements, please do not hesitate to get in touch with Navarra Kovac on (02) 8824 8422 or info@navarrakovac.com.au.