Treasury finds $27bn in JobKeeper paid to ineligible businesses

A report this week found that $27 billion of the $89 billion of JobKeeper subsidy went to business which didn’t qualify for the subsidy. Without a claw back measure legislated there is no mechanism to re-claim this money back from ineligible businesses, which has created a great deal of criticism of the government.

 

When compared to the New Zealand approach, where the government spent $12.35 billion on its JobKeeper equivalent, as much as $673 million – or 5.45% – has been voluntarily repaid. Comparatively, in Australia, where only $225 million of the $89.3 billion shelled out for JobKeeper has been repaid, the rate is far lower at just 0.25% of a percentage point.

 

For more details please refer to the following article”

 

https://www.accountantsdaily.com.au/business/16269-treasury-finds-27-billion-in-jobkeeper-paid-to-ineligible-businesses?utm_source=Accountants%20Daily&utm_campaign=13_10_21&utm_medium=email&utm_content=1&utm_emailID=66d93d976166815fbfa2d7eb7c63a8c55659e34f0f94adf0a2d7b324ca632c4f

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