• A select list of companies have volunteered to repay the JobKeeper wage subsidies they accrued over 2020, pumping tens of millions of dollars back into government coffers.
• Carmakers, retailers, and resource giants have all announced repayments to the federal government after unexpected success in the latter half of the year.
• Their offers come as federal politicians call for greater oversight and accountability of the $101 billion scheme.
• Visit Business Insider Australia’s homepage for more stories.

Coronavirus restrictions and industry lockdowns pummelled the Australian economy in 2020, leading the federal government to roll out its $101 billion JobKeeper payroll subsidy program.

But some industries got off easier than others.

A select list of companies thrived over the second half of the year – and some now say they will voluntarily repay the Australian taxpayer for the subsidies they accrued.

Those repayments go above and beyond current legal obligations placed on JobKeeper recipients, and Federal Treasurer Josh Frydenberg says companies which qualified for the unprecedented scheme are entitled to hold on to that cash injection.

However, the federal opposition has called for further accountability and oversight of the program, and the auditor general says it will investigate if successful enterprises have siphoned those payments into executive bonuses.

As debate over the scheme wears on, here is the list of companies which have volunteered to pay back their JobKeeper subsidies.

Toyota

On January 12, carmaker Toyota confirmed its plans to pay back more than $18 million in JobKeeper subsidies, after recording a wildly successful end to the year.

In a statement, CEO Matthew Callachor said the automotive giant faced an “extremely uncertain” financial situation when COVID-19 lockdowns first ravaged the Australian economy.

But a record fourth quarter – totalling 66,179 vehicles sales, up 29% from the previous three months – put the company in good stead.

“In the end, we were very fortunate to weather the storm better than most,” Callachor said.

“So our management and board decided that returning JobKeeper payments was the right thing to do as a responsible corporate citizen.”

Iluka

Australian resources giant Iluka said in January that the $13.6 million it received in JobKeeper subsidies will be paid back to the Federal Government.

That multimillion dollar call came as part of an update on the December quarter, which heralded net cash of $50 million and a free cash flow of $36 million.

“Given the company’s subsequent financial performance, Iluka has decided to return this [JobSeeker subsidy] voluntarily,” the update said.

Super Retail Group

Super Retail group, which owns companies like SuperCheap Auto, Rebel Sport, and outdoor supply retailer BCF, revealed in January it would return the $1.7 million in JobKeeper subsidy payments it received from the federal government.

The announcement came as Super Retail Group announced an extraordinary $170 million in net profit after tax for the second half of 2020.

The company said it had experienced “unprecedented consumer demand through the period,” as Australians turned to home workouts and local getaways to circumvent COVID-19 restrictions.

Nick Scali

On February 8, upscale furniture retailer Nick Scali announced plans to repay the $3.6 million in JobKeeper subsidies it accrued in the second half of 2020.
The decision arrived after the company announced record net profits of $40.5 million in the six months to December 2020.

The company was “able to capitalise on shifting consumer spending patterns and deliver a record result for the Company,” said managing director Anthony Scali.

The company also announced a 40c-per-share dividend, which would reportedly bolster the portfolio of Scali, the firm’s majority shareholder, by $4.4 million.

Labor MP Andrew Leigh, who has called on major firms to pay back unneeded taxpayer funds, said Nick Scali’s decision “reflects well” on the company.

Domino’s

Pizza chain Domino’s said in January that the $792,000 in JobKeeper payments collected by a printing subsidiary will be returned.

The company also revealed it had turned down further JobKeeper payments in October 2020, despite the subsidiary’s ongoing eligibility for the payment.

“The assistance package has served its purpose, and we return it to Australian taxpayers with our thanks,” said DEO Don Meij.

In November 2020, Domino’s revealed it had performed strongly through coronavirus shutdowns, thanks to Australians who increasingly opted for food deliveries and take-away options.

However, the company said some independent Domino’s franchisee continued to access the JobKeeper subsidy.

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