Retailers report record JobKeeper profits

Another light has been shone on the widespread rorting of the JobKeeper wage subsidy, with several large retailers reporting record profits and paying big executive bonuses and dividends:

The federal treasurer, Josh Frydenberg, has welcomed Super Retail Group’s decision to voluntarily return $1.7m of wage subsidies to the Australian government, while Labor has called for other rebounding retailers to follow its lead.

Super Retail Group – the owner of brands including Supercheap Auto, Rebel and Macpac – announced the decision on Monday, as it revealed a record $170m net profit after tax.

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