Accounting & Tax Audit Finance Financial Planning Self Managed Super

JobKeeper clawback begins

At the recent Senate Estimates hearing, Jeremy Hirschhorn, the ATO’s Second Commissioner, stated that $120 million in JobKeeper payments had been clawed back from those either deliberately seeking to rort the system or who had made reckless mistakes. Mr Hirschhorn went on to say that there did not appear to be widespread fraud across the Government’s stimulus measures and most mistakes were honest. In the cases identified so far, JobKeeper had not been clawed back from employers making honest mistakes but these employers were prevented from making future claims.

In September, the ATO noted that compliance checks had halted 55,000 JobKeeper applications at the very first stage, because they did not meet the eligibility criteria, and delayed $1bn in payments to more than 75,000 applicants for further review. Eleven matters have been referred to Serious Financial Crime Taskforce operations and around 50 matters referred for criminal investigation. But overall, the Tax Commissioner stated, “the vast majority of Australians have done the right thing and only claimed the amounts they were entitled to.”

Latest

News

What’s ahead in 2025?

The last few years have been a rollercoaster ride of instability. 2025 holds hope, but not a guaran ... read more

Tax and tinsel Q&As

Can you avoid giving the Australian Tax Office a gift this Christmas? The top Christmas party qu ... read more

Are student loans too big?

Australian voters tend to reject US style education favouring more egalitarian systems where income ... read more