No companies to be made to pay back JobKeeper

Treasurer Josh Frydenberg has ruled out compelling profitable firms to hand back JobKeeper payments.
Companies with soaring profits that also received wage subsidies will not be forced to repay JobKeeper, despite intensifying scrutiny of the scheme.
Treasurer Josh Frydenberg has ruled out compelling profitable firms to hand back taxpayersâ cash despite new data showing some didnât need it.
About 35,000 companies doubled or tripled profits while receiving $690 million in JobKeeper payments.
Mr Frydenberg said it was misleading to contrast the federal governmentâs welfare debt collection program with the tax officeâs inaction on wage subsidies.
âThe ATO chase down people who have broken the law just as Services Australia chase down people who have broken the law,â he told ABC radio on Thursday.
âIf we had delayed and waited to provide JobKeeper based on an actual decline in turnover or based on a percentage of someoneâs income, we wouldnât have got the money out the door.â
Labor is pressuring companies that turned big profits to repay funds from the $90 billion scheme.
Mr Frydenberg said he welcomed companies choosing to do that but would not legislate to force their hand.
âIf the Labor Party are proposing to actually go back and get the money from small businesses from around the country who received JobKeeper then weâll oppose that,â he told the Nine Network.
Labor frontbencher Andrew Leigh, who has led the charge against waste in the scheme, said some of the money went to billionaire shareholders and high-paid executives.
âThe idea that we should be giving taxpayer cash to firms that are doubling or tripling their revenues is reprehensible,â he told the ABC.
âThis is the sort of flagrant misspending of money that youâd expect to see in some tin-pot dictatorship, not in a well-run economy like Australiaâs.â
Harvey Norman repaid $6 million in JobKeeper payments this week after months of pressure.
Independent senator Rex Patrick has threatened ATO Chris Jordan with contempt of parliament proceedings for declining an upper house order to disclose big companiesâ JobKeeper receipts.
Companies qualified for the JobKeeper wage subsidy based on government-determined falls in turnover due to the pandemic.
-AAP
Want to see more stories from The New Daily in your Google search results?
- Click here to set The New Daily as a preferred source.
- Tick the box next to "The New Daily". That's it.








