spacer
spacer
spacer
spacer



CPA LOGO
spacer
Latest News
Hot Issues
Small businesses may ‘collapse under strain of payday super’, IPA warns
ATO’s hands tied with scrapping on-hold debts, expert says
What Drives Your Business Growth and Profits?
Australian Taxation Office (ATO) shifting to firmer debt collection activity
Why employee v contractor comes down to fine print
Sharing economy reporting regime for platform operators
Countries producing the most solar power by gigawatt hours
Illegal access nets $637 million
Accessing superannuation benefits.
Does your business have a company Power of Attorney?
Labor tweaks stage 3 tax cuts to make room for ‘middle Australia’
GrantConnect
2 in 3 SMEs benefit from instant asset write-off, survey reveals
Updated guidance on R&D claims
Do you know how to recover debts?
Wheat Production by Country
Types of small business benchmarks
What is a Commercial Lease?
ATO warns advisers against suspect R&D tax claims
The year of workplace law upheaval
How to Resolve Invoice Payment Disputes
Raft of revenue tweaks in MYEFO to raise millions
The Countries that Export the Most Wine in the World
Articles archive
Quarter 4 October - December 2023
Quarter 3 July - September 2023
Quarter 2 April - June 2023
Quarter 1 January - March 2023
Quarter 4 October - December 2022
Quarter 3 July - September 2022
Quarter 2 April - June 2022
Quarter 1 January - March 2022
Quarter 4 October - December 2021
Quarter 3 July - September 2021
Quarter 2 April - June 2021
Quarter 1 January - March 2021
Quarter 4 October - December 2020
Quarter 3 July - September 2020
Quarter 2 April - June 2020
Quarter 1 January - March 2020
Quarter 4 October - December 2019
Quarter 3 July - September 2019
Quarter 2 April - June 2019
Quarter 1 January - March 2019
Quarter 4 October - December 2018
Quarter 3 July - September 2018
Quarter 2 April - June 2018
Quarter 1 January - March 2018
Quarter 4 October - December 2017
Quarter 3 July - September 2017
Quarter 2 April - June 2017
Quarter 1 January - March 2017
Quarter 4 October - December 2016
Quarter 3 July - September 2016
Quarter 2 April - June 2016
Quarter 1 January - March 2016
Quarter 4 October - December 2015
Quarter 3 July - September 2015
Quarter 2 April - June 2015
Quarter 1 January - March 2015
Quarter 4 October - December 2014
Toyota returns $18m in JobKeeper payments

 

The Japanese car manufacturer has confirmed it has approached the ATO to return more than $18 million in JobKeeper payments after a spike in sales towards the end of last year.

 



       


Toyota Australia president and CEO Matthew Callachor said the move was the “right thing to do as a responsible corporate citizen” after it recorded strong sales in the final quarter of 2020.


Around 1,400 of Toyota’s employees were on JobKeeper after the car manufacturer qualified for the wage subsidy program in the middle of last year after its revenue fell by more than 50 per cent.


However, the company posted a record fourth-quarter total of 66,179 vehicles, a gain of 29.1 per cent over the same period in 2019.


The surge in sales saw Toyota deliver a total of 204,801 vehicles for the year, retaining its title as the best-selling car brand for the 18th consecutive year.


“Like most businesses, Toyota faced an extremely uncertain future when the COVID-19 health crisis developed into an economic crisis that even led to dealerships closing for extended periods in Victoria and Tasmania,” Mr Callachor said.


“We claimed JobKeeper payments to help support the job security of almost 1,400 Toyota employees around Australia — the people who are our first priority.


“In the end, we were very fortunate to weather the storm better than most, so our management and board decided that returning JobKeeper payments was the right thing to do as a responsible corporate citizen.”


The return of JobKeeper payments comes after key figures within the government reaffirmed their decision to end the program by March despite a number of industries continuing to struggle due to border closures and state-imposed lockdowns.


Acting Prime Minister Michael McCormack said a wide range of businesses, starting at “A, accountants, and you could work right through to Z, zoos and everything in between”, had told him that JobKeeper needed to end by March.


Treasurer Josh Frydenberg also noted that 2.2 million workers and 450,000 businesses had dropped off JobKeeper after September 2020, a sign that the program had done its job in helping businesses weather the downturn.


“It was always meant to be a temporary program, it was always designed to help get businesses to the other side, and it’s not the only support measure that we have in place,” he said.


“It was initially legislated for six months, and as you know, we extended it for another six months. But it is a program that goes to the end of March.”


 


 


Jotham Lian 
13 January 2021
accountantsdaily.com.au


 




29th-January-2021
spacer
Privacy Policy | Disclaimer