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Jobkeeper - Reporting requirements for all listed entities

Jobkeeper - Reporting requirements for all listed entities

Hillary Mutowo

The Treasury Laws Amendment (2021 Measures No. 2) Bill 2021 now requires listed entities to separately disclose the amount of Jobkeeper payments they received during a financial year to the market.

The information will be disclosed in the form of a notice to the Australian Securities and Investment Commissions (ASIC) as well as the listed entity’s relevant market operator. The notice will be made available to the public and will contain specific information pertaining to the Jobkeeper payments. Listed entities are required to lodge this notice despite having disclosed the Jobkeeper payments in their financial reports.

The disclosure requirements apply for each financial year that the listed entity and subsidiaries receives or received Jobkeeker payments and will apply to all listed entities on the ASX, NSX or any other prescribed market operating in Australia.

To assist listed entities in complying with their new disclosure obligation, the ASX will provide a link to a template ‘JobKeeper s323DB notice’ on the ASX Online for Companies webpage under the '
Forms' tab. ASX asks listed entities to use the template notice when providing the required information. ASIC will be releasing guidance on the new JobKeeper disclosure obligation in October 2021 on its website.

Details to be included in the notice
  • The listed entity’s name and ABN.
  • The number of individuals for whom the listed entity or a subsidiary of the listed entity received a Jobkeeper payment for a Jobkeeper fortnight (within the meaning of the Coronavirus Economic Response Package (Payments and Benefits) Rules 2020 that ended in the financial year.
  • The sum of all Jobkeeper payments the listed entity and each subsidiary of the listed entity received in a Jobkeeper fortnight that ended in the financial year.
  • Whether or not the listed entity or a subsidiary of the listed entity has made one or more voluntary payments (whether or not in the financial year) to the Commonwealth by way of a repayment of Jobkeeper payments received by the listed entity or a subsidiary of the listed entity in the financial year.
  • If the listed entity or a subsidiary of the listed entity has made such a voluntary payment or payments — the sum of those payments.

Notice due dates

The notice must be given:
  • If the listed entity has lodged its report for the financial year with ASIC before 14 September 2021, it must lodge the notice on or before Friday, 12 November 2021.
  • Otherwise, within 60 days after the listed entity lodges its report for the financial year with ASIC.
Failure to lodge the required notice can result in a penalty of up to $13,320.

Please be advised that financial reports recognise JobKeeper payments on an accruals basis, whereas the notice requires disclosure of JobKeeper payments actually received. Therefore, for listed entities that have already lodged their financial reports, it may be appropriate to reconcile in the notice the differences between what is disclosed in the financial report and notice.

If the entity becomes aware that its lodged notice is not correct, it must re-lodge a corrected notice within 60 days of becoming so aware. Failure to meet the new disclosure requirements can also attract a penalty of up to $13,320.


More information

If you would like more information or assistance, please contact your local Moore Australia advisor.