Australia’s biggest companies pocketed hundreds of millions in jobkeeper despite positive earnings

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New analysis shows ASX300 corporations banked a total of $3.8bn in government subsidies in 2020, including $2.5bn of jobkeeper

From March 2020 companies were eligible for the $1,500 fortnightly jobkeeper payment per worker for a period of six months if they estimated they would suffer a 30% revenue decline, or 50% for those with turnover of $1bn or more.requiring a reassessment every quarter and for the downturn to be based on actual GST turnover.

 

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