Fears millions wasted on JobKeeper payments to profitable firms

One-fifth of JobKeeper payments made to major listed companies in the second half of 2020 went to firms who grew their profits during the pandemic, sparking fresh concerns the $83 billion scheme has been abused by parts of corporate Australia.

Ownership Matters director Dean Paatsch said the figures showed many of the companies who received JobKeeper may have not actually needed the subsidy. “The group that were trading better than they were [in 2019] got roughly 20 per cent of all of the JobKeeper that went to ASX300 companies over the half,” Mr Paatsch said.

JobKeeper was announced last March, and the program allowed businesses to receive a $1500 a fortnight payment for each eligible employee. Businesses needed to demonstrate or forecast a 30 or 50 per cent decline in revenue to be eligible.

Source: Digital Coin News (digitalcoinnews.net)

domp It's not govt money - it's taxpayers money. Paying shareholders for profits is not the intention of JobKeeper, so give it back KathmanduGear By the way, have you paid your staff? Probably last on your priority list. ALeighMP

tanya_plibersek domp What else do you expect from the LNP make the rich richer while the poor get poorer 😡😡

tanya_plibersek domp Free money for everyone! Because money grows on trees! 💰 🌲

tanya_plibersek domp Then they will get a big whack at tax time

domp U don’t want to know how much worse Abused it was in the Underworld!

domp The rich corporations support the liberal party, thats why the liberals don't care. No robodebt for the rich.

domp Why use ‘fears’ in this article. It’s actually a fact that companies have rorted this scheme! Just look at HarveyNormanAU

tanya_plibersek domp

domp JoshFrydenberg career defining moment ?

domp 'The rich get richer, the poor get the picture.'

domp Fraudenberg either knew this would happen or wanted this to happen.

tanya_plibersek domp But... But... But... Pink bats... Debt and deficit disaster...school halls...FFS. Guess the LIBs wanted to show ALP how to really waste money the right way... Line ya mates pockets.

domp Imagine that money going to people who neded it

domp Concerns it being abused? That what it’s intended purpose was! More public money to private hands.

domp Royal Commissions into Crown. They were receiving j'keeper.

domp Well get it back

domp As expected

LetSleepingDogz domp the University sector says hi

tanya_plibersek domp What a disingenuous headline. The actual amount that went to companies who’s profit fee was about $200m.... that’s 0.25%

tanya_plibersek domp Yet I have small business clients that really needed the jobkeeper to survive and the ATO are closely reviewing their eligibility

tanya_plibersek domp If those companies had a shred of decency they would pay back the money. It’s happened in the uk voluntarily without government intervention.

domp This is more than disgusting.

tanya_plibersek domp SOME parts? MOST parts.

domp Never! This is the mob that lost 60 billion and didn't notice though, don't forget.

tanya_plibersek domp It's not all bad. Father christmas and the tooth fairy told me it's going to trickle down

phbarratt domp Just how the Liberal government likes it, helping out rich mates who in all probability will gratefully make donations to the party coffers next election.

AugustusPember3 domp “But businesses don't have an obligation to pay back JobKeeper. That is a matter for those individual businesses, as they see fit.”-Frydenburg ;

domp Robodebt the CEOs immediately! JoshFrydenberg

domp Money rorted and nothing for the ANU Nobel prize winning Neuroscience department which will now close. Nothing but contempt for learning in this country.

domp Adam Smith gave you the “invisible hand” of the free market. Josh & Scotty have modernised this with the “invisible hand job.” It’s all about jobs & growth JobKeeper auspol

domp Wreckless throw away of money without planning and thoughts

Raymartin55 domp Payback for donors and payment for new ones , the moment this jk was announced it was wrong , should’ve gone directly to workers

domp Guys he's not into the politics of envy, leave poor ScoMo alone

domp We need to make them repay... and bill them with a hefty FINE for taking taxpayers for a free ride

domp It was how the scheme was designed. 'JobKeeper' is the first Govt policy to actually be achieving its goals. VoteKeeper

domp Wasted, maybe. Although taxes were paid on profits, workers and business owners could still pay their mortgages. I think many people have seen businesses that got it that didnt need it. Workers might have kept quiet, getting paid for not working etc

domp The scheme worked as intended, giving donors cash it was the money that actually helped the punters that the LNP didn’t plan for. Greedy capitalist pigs

domp Surprise surprise. Liberals lining the pockets of their wealthy mates

domp Who would’ve thought 🙄

bencubby domp ANOTHER government stuff up!

domp Noooo!!! Who’d have thunk it...

domp Is there a robodebt for corporate companies

domp Are food chains like McDonalds and KFC in greedy Harvey Norman position?

domp Chase an unemployed person to the grave for a piddling amount but for friends of this lot, nothing.

drlouisehansen domp StopLawyersRunningAustralia IStandWithLouiseMilligan March4Justice BernardKeane christianporter defamationcase RuleOfLaw PorterUsingHisOwnCourtsToSueABC PorterHavingCakeAndEatingCake PorterSuesToGagRapeInquiry VoteLawyersOut of auspol IBelieveKatharineThornton

domp Maybe those companies should be audited? Might have been some dodgy accounting going on?

domp

domp As ScottMorrisonMP says, “he doesn’t care” It’s the top end of town anyway

slackbastard domp I'll never forget Morrison saying to camera that he 'hoped' employers will do the right thing and pass JobKeeper money onto their employees. 'Hoped'!!! This from the head of our legislature.

domp The scheme was based on revenue, not profit? It was set up to be taken advantage of.

domp

domp There was one eligibility test when first introduced and nothing until the new financial year, major design flaw

domp Nice one JoshFrydenberg looks like you have your own version of Rudd and Swan’s school halls and pink batts (without deaths). Why can’t Govts ever get this right? 😤

domp As what is being seen with the vaccination being planed 12 mths ago and look at where we are at now. Is it any wonder the job keeper has been abused?

domp It's true. Some big listed companies fueled bonuses with JK

domp Any business that made a single cent in profit should be made to refund every jobkeeper payment it received. Surey this is not what it was for?

suthernx domp “Concerns”? CONCERNS? Understatement. We are bloody furious. This Morrison govt is only there for to steal. Thieving for the donor mates and themselves. That’s all they do.

suthernx domp Previous Morrison govt statements talked about unfair payments going to just 1%. If the amount is more like 20% then we could be talking $billions in unfair payments. Serious competence questions now. auspol jobkeeper rorts donors mates

domp I know a few people who told me their place of work is getting jobkeeper even though they've been busier than ever during the lockdown/pandemic working more than 20+ hours a week 🙃 And who messed with their pays/billings to get it.......

domp The abuse was always going to happen, I am just surprised at how relaxed the government are about it. Actually... I am not really surprised

domp Wow. Like people didn’t see this happening. And as ScottyFromGilead said. “If they want to hand it back they can”

domp So? It worked as it kept people employed during the worst time of Covid.

domp Coulda told ya this back in May.

domp I was thinking if ALP had given out money like this, the daft old angry men would be spraying their spittle and suggesting it is end of times. Then thought same with rape. Muslim rapes a women then outrage, white man no bother. It all about 'who' with them.

domp Corrupt, there's no other word for it.

domp This should be a simple fix for ATO and Treasury ... surely a compare of prior years and some simple analysis will highlight the firms that have acted illegally

domp That’s why it was designed like it was. It was never about the workers, it was designed to keep the funders of the TheIPA /LNP profitable for the future. If it was for the worker it would’ve been done directly to the worker not some half arse laundering service!

domp If they really wanted money in the hands of their citizens, would’ve just been easier to give them a tax break. This was just an excuse to print more money

domp So one of the Morrison / Frydenberg intended outcomes has been met. Who’s surprised?

domp What's really surprising, given this lot couldn't organise a BBQ, is how successful they've been in the wholesale funneling of public monies into corporate hands. Impressive!

domp Aged care, NDIS, pandemic support, environmental ignorance and defence budget increases all line the pockets of their backers. The arrogance of this Government's pursuit of self interest is matched by the medias complicity of silence.

domp It could only be JoshFrydenberg

toninicho domp Is it abuse when the government set it up this way. At best it was poor policy development at worst it was just an excuse to give the GreedyRich even more of our stuff, which they seem to do at every opportunity. RoyalCommission

domp It's simple. Don't vote for them.

domp Another Government failure that has been in plain view and ignored

domp Capitalism at work.

domp Was always going to happen with such a broad brush approach. The benefits started flowing quickly which was beneficial to many businesses but should have continued to be tested every month, not just at the start. Many bounced immediately.

domp And the “Dole” bludger are being chased by JoshFrydenberg and ScottMorrisonMP Puppets of the “Main rorters”

domp But it's the voters that will suffer as a result of this. Corporations get way too much and provide very little to the majority of the workforce and population.

domp Meanwhile sole traders got SFA

domp obviously Having a Go

domp Anyone with any level of intelligence and economic acumen will tell you that the gov stimulus packages were an essential piece of legislation that saved the economy and millions of people from financial disaster. We now have record levels of economic growth & increase optimism

domp Ya think?

domp

domp Frydenberg has failed once again businesses allowed to Rort job keeper and keep Taxpayers money Absolutely disgraceful

domp And Murdoch keeps shtum

domp Really? Rorting being associated with this government! Well I never. P.S. I think I just broke my sarcasm meter. 🤣😂🤣

domp Time to robo-debt these executive teams and corporate Boards Josh? I won’t hold my breath...

domp 😒

Australia Latest News, Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bankruptcy fears as JobKeeper cut offNancy Hillary is $60,000 in debt and has let all her staff go but with the end of JobKeeper she isn’t sure how she is going to keep her struggling entertainment business afloat. This is a reality that no State or Federal government will acknowledge. The industry is in tatters and what events they are running are so heavily scrutinised that the stress is not worth it. The additional costs to be covid compliant are making small business events unviable. Fact is many businesses have been sacrificed in order to bring “stranded Australians” home. How many outbreaks have we had now? And how many billions has it cost the economy? SincDavidson 8 months to turn around a concert for 300 people? She says she books cover acts and comedians.
Source: newscomauHQ - 🏆 9. / 77 Read more »

End of JobKeeper sparks fears 150,000 could join the unemployment queue | Sky News AustraliaThe Morrison government's JobKeeper wage subsidy has officially come to an end sparking fears up to 150,000 Australians could be left without work.\n\nThe scheme concluded at midnight on Sunday after providing 12 months of assistance for businesses to retain staff during the pandemic\n\nEconomists warn the move will lead to a cliff of unemployment particularly for the tourism and hospitality industry with 110,000 businesses considered vulnerable.\n\nAt its peak 3.8 million people were receiving the payment and more than one million were still signed up at the end of January.\n\nTreasurer Josh Frydenberg says the vast majority of recipients have now graduated from the scheme and has assured struggling workers the government will not abandon them.\n Thanks to BetWorldwide am now out of my debt. If you want to make profit in betting BetWorldwide is the right person Plenty of fruit to pick il Donaldo Trumpo watch on YouTube
Source: SkyNewsAust - 🏆 7. / 78 Read more »

Fears millions wasted on JobKeeper payments to profitable firmsOne-fifth of JobKeeper payments made to major listed companies in the second half of 2020 went to firms who grew their profits during the pandemic, sparking fresh concerns the $83 billion scheme has been abused by parts of corporate Australia | domp domp No shit sherlock holmes domp This LNP Government couldn't organise a P*ss Up in a Brewery as my old dad used to say auspol LNPfail domp Nane the campanies and shame them. These people should not preach us goodwill.
Source: theage - 🏆 8. / 77 Read more »

There are fears the end of JobKeeper will inflict a 'double whammy' on those at risk of domestic violenceThe peak representative body for specialist domestic and family violence services in NSW expects the end of the federal government’s JobKeeper scheme will inflict a “double-whammy” on people at risk of violence. the lack of free money will make men bash women? If there so called specialists did their job properly, there would be no domestic violence. Domestic violence is crime.
Source: SBSNews - 🏆 3. / 89 Read more »

Fears for missing woman after car found submerged as NSW flood recovery beginsThere are grave fears for a woman missing on the NSW Mid-North Coast after her car was discovered submerged in a river. It comes as authorities announce thousands of dollars in grants for flood recovery. 北京国有大型公共服务窗口企业，违法用工，每天工作18小时，睡在水泥地面上，吃不饱饭 ，没有餐厅，吃饭的地方老鼠乱窜。绝对真实，图片视频新闻素材2个G。出售。
Source: abcnews - 🏆 5. / 83 Read more »