Thanks to a complete lack of regulatory scrutiny, companies have been allowed to keep JobKeeper even when they’ve turned a huge profit.
It’s put companies in an ethical dilemma: should they keep money they don’t deserve?
Luckily, most large companies have corporate social responsibility statements that deal with exactly this kind of question.
Crikey took a look at the statements of some of the biggest JobKeeper “leaners”.
Harvey Norman
JobKeeper: $4 million
Latest profit: $610 million
“The board of directors of Harvey Norman Holdings is committed to a high standard of corporate governance, and is responsible for establishing, maintaining and monitoring the corporate governance framework of the consolidated entity.
“The board aims to foster a culture of compliance, with an emphasis on ethical behaviour, accountability, corporate and individual integrity and respect for others.”
Accent Group
JobKeeper: $45 million
Latest profit: $52 million
“Accent Group Limited is committed to good corporate governance practices, transparency and accountability to build sustainable value for shareholders and to drive performance and growth.
“The company has implemented controls … that are designed to safeguard the company’s interests and ensure the integrity of its reporting.
“These include accounting, financial reporting, tax risk management, safety, health and environment and other internal policies and procedures, which are directed at ensuring the company complies with all regulatory requirements and community standards.”
Star Entertainment
JobKeeper: $152 million
Latest profit: $63 million
“The company has a group-wide code of conduct which emphasises six guiding principles as core elements of the behavioural standards the company has set for itself and the behaviours expected of its employees. The guiding principles are: We respect the community, we are diverse, we comply with the law, we are ethical, we are professional, we work safely.
“The company has a compliance policy which provides a framework for acting within legal and ethical boundaries, consistent with the values that underpin the company’s business activities and strategic objectives.
Should companies pay back JobKeeper? Let us know your thoughts by writing to letters@crikey.com.au. Please include your full name to be considered for publication in Crikey’s Your Say section.
As Fraudy said in Q/T, when asked whether JobKeeper being used for executive bonuses and increased profit, “Labor is against businesses being successful and profitable“.
So, no probs.
You just know that when the board of Toyota Australia announced it was paying back Jobkeeper that over in the HN boardroom they were staring at this news in abject horror lol
Immoral corrupt grifters.
Yeah, Gerry, I’m looking at you.
If any company paid a bonus to either management or board members then they need to repay jobkeeper.
Simple really, all of those people on jobkeeper did not receive an extra red cent from it.
well they’re obviously lifters not leaners so give em a break….
Yep, lifting that bottom line is all that matter.s