The ASX-listed companies keeping JobKeeper despite making profits

More than one dozen ASX-listed companies, including Cochlear, Premier and Tabcorp, have declined to return JobKeeper payments to the government in full despite booking millions of dollars in profits last financial year.by returning $6 million in JobKeeper payments to the government this week, sparking fresh calls for greater transparency around how the multibillion-dollar wage subsidy scheme was deployed.

Solomon Lew’s retailing giant Premier announced in May it would return $15.6 million out of its total of $68.9 million in JobKeeper payments. However, a spokeswoman said there were no plans to return the remainder despite the company forecasting a nearEagers Automotive received $130 million in JobKeeper and has refused to return any, despite making $202.3 million in recent half-year profits, almost four times the sum made before the pandemic.

A spokeswoman pointed to a statement by Accent chair David Gordon who last month said no JobKeeper payments were used in the calculation or payment of management bonuses or shareholder dividends. “This [JobKeeper] enabled the company to keep the majority of its 190 stores open and trading and to provide continued employment for approximately 2,200 team members in challenging and uncertain conditions,” a Best&Less spokesman said.

Senex received around $2 million in JobKeeper payments, which a spokesman said was used to retain its more than 100 employees, adding “we supply essential domestic natural gas to manufacturers who employ thousands more”.

world_news_eng Yet this government had no problems delivering an illegal and morally bankrupt robodebt campaign on centrelink recipients.. Yet they won't ask billionaires to return the money they have deliberately defrauded from the Australian people..

That’s a farce … like really. When I do my tax return I get scrutinised on every work related cost but these companies don’t have to pay back millions… of course they should be obligated to return tax payers money

👎👎👎

The TAB tried to be clever by making a JAB ad and got absolutely roasted. Restored my faith in this two tiered society.. for now

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JobKeeper went to thousands of companies whose turnover tripled at the height of the COVID-19 pandemicNew data reveals nearly 20,000 companies tripled their turnover yet accrued nearly $370 million in JobKeeper during the first three months of the wage subsidy program. Let's face it job keeper went to thousands of people who didn't need it at all plus the special grants ..people I knew who received these couldn't believe it.. JoshFrydenberg Seems our business owners don't mind a little Socialism, as long as it favours them.
Source: abcnews - 🏆 5. / 83 Read more »