ASIC details expanded JobKeeper obligations

The Australian Securities and Investments Commission has provided ASX-listed companies with new JobKeeper disclosure guidance ahead of fast-approaching deadlines for newly enacted transparency measures.

It follows amendments to the Corporations Act, enacted in mid-September, that require listed companies to notify the market about details of their JobKeeper payments.

Listed companies will now need to reveal how much funding they received from JobKeeper, as well as how many of their employees benefited from it and whether any funding had been repaid to the Australian Tax Office.

Businesses have had a relatively free hand in disclosing these details prior to now, with a handful of notable, Perth-based entities, including Seven Group Holdings and Crown Perth, attracting public intrigue for having accessed funding.

Some figures, including federal Labor MP Andrew Leigh, have been highly critical of the program's lack of transparency up to now, pointing out that similar programs in the US, the UK and New Zealand were enacted with strict disclosure requirements.

All listed companies will now have until November 13 to disclose details of their JobKeeper receipts, with businesses that lodge their results after September 14 having 60 days from their date of lodgment to make a disclosure.

ASIC will then publish all the information in a consolidated report to be released at a later date.