7 Oct 2020

Wage subsidy research looks at who took advantage

From Nine To Noon, 9:08 am on 7 October 2020
No caption

Photo: Supplied / NZX

Wage subsidy research into the top NZX listed companies is revealing which businesses were in the spirit of the law, and which ones weren't.

University of Auckland accounting professor Jilnaught Wong says his investigation shows 10 of the top 50 companies on the NZX claimed the wage subsidy and morally some companies should not have.

Since late March just over 750,000 businesses have claimed $14 billion worth of  wage subsidies, of which about $440 million has been paid back in refunds by roughly 15,000 companies.