The Big Grift: How the Top End of Town rorted Jobkeeper

Mirvac racked up more than $20 billion in sales over the past six years and paid not a skerrick in income tax.

It also racked up profits through the pandemic, but that has not stopped the property juggernaut from helping itself to the government’s JobKeeper scheme too; gorging itself on a public subsidy which was intended only for companies which suffered a large fall in turnover. 

Like dozens of other companies on the ASX – as demonstrated in the interim profit reporting season which draws to a close today – this profitable $10bn company has grabbed the subsidy while having the cheek to pay large dividends to its shareholders ($305m is the latest) and lavish salaries to its executives.

Others have paid part of their JobKeeper…