Companies that get COVID-19 support payments such as the JobKeeper wage subsidy while still paying executive bonuses or increasing dividends risk damage to their reputations, the Australian Taxation Office (ATO) has warned.
Key points:
- ATO second commissioner Jeremy Hirschhorn says companies need to take account of reputational risk in the way they behave
- Mr Hirschhorn also warned against businesses exploiting Federal Budget measures designed to encourage investment, such as the loss carry-back scheme
- The warning comes amid concerns stimulus measures could be rorted and that companies…
