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Domino’s subsidiary returns $792k in JobKeeper assistance

Adrian Flores
Adrian Flores
29 January 2021 1 minute readShare
Domino’s subsidiary returns

A subsidiary printing company of pizza giant Domino’s has become the latest company to announce it would be returning $792,000 of JobKeeper stimulus to the government despite it remaining eligible.

In an announcement to the ASX, the printing company received $792,000 in JobKeeper assistance in FY20.

In October 2020, Domino’s said it would not accept any further JobKeeper assistance despite the subsidiary business’s eligibility.

At its annual general meeting, Domino’s noted that no executive received short-term incentives for the financial year where JobKeeper had contributed to their division’s performance.

Further, it said a small number of independently owned Domino’s franchisees have separately received JobKeeper support, which was significantly offset in FY20 by $6.8 million, which Domino’s previously announced was to support Australian and New Zealand stores affected by rapid changes in customer ordering behaviour.

Domino’s Group chief executive and managing director Don Meij said the return of JobKeeper assistance was consistent with the company’s approach throughout COVID-19.

“We appreciate the availability and support of JobKeeper during a period of significant uncertainty,” Mr Meij said.

“That period has passed, the assistance package has served its purpose and we return it to Australian taxpayers with our thanks.”

Domino’s joins the ranks of companies going on the front foot in terms of returning JobKeeper stimulus to the government unprompted, including Iluka Resources, Toyota and Super Retail Group.

The emerging trend has led shadow assistant treasurer Dr Andrew Leigh to call for an inquiry into the JobKeeper scheme to “get to the bottom of how many firms saw increased profits in 2020 despite receiving JobKeeper”.

“The information’s at the fingertips of the Tax Office. They simply need to disclose it to the Australian people,” Dr Leigh said.

“The thing about JobKeeper is the eligibility required was simply a brief downturn. Many firms that shut their doors in March of last year received JobKeeper.”

Domino’s subsidiary returns $792k in JobKeeper assistance
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Adrian Flores
Adrian Flores

Adrian Flores is the deputy editor of MyBusiness. Before that, he was the deputy editor for SMSF Adviser as well as features editor for ifa (Independent Financial Adviser), InvestorDaily, Risk Adviser, Fintech Business and Adviser Innovation.

You can email Adrian at [email protected].

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