Business
Don’t use coronavirus JobKeeper subsidy to fund executive bonuses or pretend to be loss-making to claim stimulus, ATO warns – ABC News
Companies that get COVID-19 support payments such as JobKeeper while still paying executive bonuses or increasing dividends risk damage to their reputations, the…
Companies that get COVID-19 support payments such as the JobKeeper wage subsidy while still paying executive bonuses or increasing dividends risk damage to their reputations, the Australian Taxation Office (ATO) has warned.
Key points:
- ATO second commissioner Jeremy Hirschhorn says companies need to take account of reputational risk in the way they behave
- Mr Hirschhorn also warned against businesses exploiting Federal Budget measures designed to encourage investment, such as the loss carry-back scheme…
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