JobKeeper clawback begins with $120m so far
The ATO has been very clear that it will seek to clawback JobKeeper payments that have been paid to illegible companies.
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.
The new JobKeeper eligibility criteria kicks in
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."
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This article is provided for information purposes only and correct at the time of publication. It should not be used in place of advice from your accountant. Please contact us on 02 9957 4033 to discuss your specific circumstances.