Fair Entitlements Guarantee Information for Insolvency Practitioners
The role of the Insolvency Practitioner and the Fair Entitlements Guarantee (FEG).
To verify claims for FEG assistance, we usually rely on the employee information from company books and records.
We ask insolvency practitioners to provide this information to us using FEG IP Online.
FEG IP Online
All FEG tasks and correspondence between us and insolvency practitioners are sent via a web-based portal which includes a dashboard feature to assist insolvency practitioners to manage and track their FEG work. The FEG IP Online Help Guide will help insolvency practitioners use the portal.
FEG information for insolvency practitioners
We ask insolvency practitioners to distribute the General information for claimants fact sheet to employees.
The information for insolvency practitioners fact sheet provides more information about FEG and the role of insolvency practitioners.
You can find the following information sheets for insolvency practitioners in the Resource Centre at FEG IP Online:
- Insolvency practitioner (IP) access to company records – Delays can have significant adverse consequences for FEG claimants. Where there are difficulties in accessing company records or other unreasonable delays in the provision of timely verified employee entitlement data based on company books and records, we will pursue alternative forms of claim assessment in order to finalise claims quickly and accurately.
- The Fair Entitlements Guarantee Calculating costs of winding up information sheet – can assist insolvency practitioners to identify and calculate costs of the winding up or bankruptcy (costs of winding up) for the purposes of working out and verifying employment entitlements under the FEG.
- The FEG IP fact sheet Employee Entitlements Data FAQs – offers FAQ guidance to help insolvency practitioners resolve the difficulties most commonly encountered when compiling employee entitlement information from the books and records of an insolvent company or other entity.
FEG maximum weekly wage
Employment entitlements are capped by reference to the FEG maximum weekly wage (see sections 5, 26 and 27 of the Fair Entitlements Guarantee Act 2012). If an employee earned more than the FEG maximum weekly wage we will calculate employment entitlements as the employee earned the FEG maximum weekly wage at the time their employment ended. The FEG maximum weekly wage is:
- $2451 from 1 August 2013 to 30 June 2021
- $2364 for the period 5 December 2012 to 31 July 2013.
Direct payment of FEG advances to claimants
Under direct payments, we pay FEG advances directly to claimants through their nominated bank account within two business days of a decision. We calculate, withhold and remit tax to the ATO.
Do you have a question?
If you have any questions about FEG IP Online please email us at FEGIPOnline@jobs.gov.au.