Business
Australia’s biggest companies pocketed hundreds of millions in jobkeeper despite positive earnings – The Guardian
New analysis shows ASX300 corporations banked a total of $3.8bn in government subsidies in 2020, including $2.5bn of jobkeeper
Thirty-four of Australias largest companies claimed jobkeeper wage subsidies in the second half of 2020 despite actually improving their earnings on pre-pandemic levels, pocketing a total of $284m.
The conclusion of the new analysis of ASX300 companies financial reports by advice firm Ownership Matters is set to add pressure to growing calls for profitable companies to repay jobkeeper.
The ASX300 companies were responsible for claiming just 3% of the $83bn of wage subsidies on offer in 2020, suggesting…
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