The corporate regulator has released the most detailed compilation yet of JobKeeper information provided by listed companies, making it easier to see how much companies received and how much they repaid.
The Australian Securities and Investments Commission’s (ASIC) spreadsheet reveals just a fraction of the total $89 billion JobKeeper program went to public companies. New laws were introduced in September that forced listed companies to report details, however, ASIC’s numbers reveal the bulk of the money went to unknown organisations, small businesses, and private companies.
According to calculations done by The Sydney Morning Herald and The Age, the total JobKeeper received by 561 ASX-listed companies adds up to only $4.2 billion, or 4.7 per cent of the total policy cost.
Qantas topped JobKeeper payments at more than $856 million.Credit:Louise Kennerley
Ten ASX-listed companies received more than $100 million in JobKeeper payments from March 2020 to the end of February 2021. This includes Qantas, Crown Resorts, Flight Centre, Star Entertainment, Myer Holdings, Eagers Automotive, Mosaic Brands, and G8 Education limited.
The flying kangaroo stands out as the top recipient with $856 million, followed by Crown, which took $291 million, and then Flight Centre, which took $248 million.
Of those top ten recipients, only Mosaic Brands has repaid any money, about $2.1 million of the $125 million it received. However, repayments have always been voluntary.
Crown Resorts received $291 million worth of JobKeeper payments when its casinos were closed. Credit:Will Willitts
So far, $240.8 million has been repaid, or 5.7 per cent of the $4.2 billion received by listed companies.
Global mineral sands miner Iluka Resources gets the gold star for corporate behaviour. It received $13.9 million in the first fiscal year to cover the salaries of 732 staff, or $18,952 each. It then repaid the lot and took nothing in the second fiscal year.
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