IP Pack - Quotes and invoices
From time to time the Department may pay an insolvency practitioner reasonable costs associated with the administration of GEERS. For this, the Department requires a statement from the IP to verify that there are no funds in the insolvency to fund the GEERS process together with a written quote. This quote must be formally approved by the Department before any work is undertaken on the Department’s behalf.
The quote must include:
- the number of former employees applying for GEERS assistance
- the total cost per employee, including a break down between:
- Calculation and verification tasks; and
- Distribution and acquittal tasks.
- Goods and Services Tax (GST).
Please note that the Department will not pay the cost of any services routinely undertaken in the course of the insolvency process and which are not specifically related to the verification and distribution of GEERS funds.