The JobKeeper cover up is worse than the crime

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The latest JobKeeper rort floating around the media relates to elite private schools, which somehow managed to score millions of dollars of JobKeeper dollars without ever ‘shutting down’ and recording big operating surpluses:

Seven hundred Australian private schools shared more than $750m in JobKeeper, despite most posting multimillion-dollar surpluses, new data shows.

One school, St Leonard’s College in Brighton East, received $6.2m in JobKeeper but posted a $10m surplus. The school has assets of $155m and charges parents up to $33,000 in fees a year.

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.