Harvey Norman Repays $6m in Jobkeeper

GG57 on 31/08/2021 - 11:17

Reports this morning that HN has repaid $6m in Jobkeeper after record profits.
https://www.smh.com.au/business/companies/harvey-norman-repa…

"Furniture and electronics giant Harvey Norman has bowed to public pressure and repaid $6 million in JobKeeper subsidies to the federal government following record profits for the 2021 financial year.
The ASX-listed company, founded and chaired by billionaire Gerry Harvey, told investors on Tuesday morning it had paid back $6.02 million in JobKeeper subsidies to the tax office, reflecting all the wage subsidies received by company-controlled entities over the 2020 and 2021 financial years."

What would make Gerry do that? Maybe a little influence by the LNP in the lead up to the next election?

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Comments

  • Muzeeb on 31/08/2021 - 11:20
    +63

    Still not buying shit from them.

    • djones145 on 31/08/2021 - 11:22
      +5

      can i get a ms paint picture of that statement please

      can use it as our avatar!

    • GG57 on 31/08/2021 - 11:27
      +30

      I'm with you; if Gerry had to wait for "public pressure" to do this, his heart isn't really in it.

      • ChillBro on 31/08/2021 - 11:41
        +21

        It's hard to believe he even has a heart

    • boomramada on 31/08/2021 - 11:38
      +1

      But but, you upvote the Acer Nitro 5 15.6" Laptops: i5-10300H/8GB/RTX3060 $1298, i7-10750H/16GB/RTX 2060 $1398 + Del ($0 C&C) @ Harvey Norman deal not so long ago ;)

      https://www.ozbargain.com.au/node/639801 - MS Paint 22/07/2021 - 11:09

      Come on guys, why the hate? deal is a deal.

      • Xistn on 31/08/2021 - 11:39
        +6

        NO SOUP FOR YOU!

      • Muzeeb on 31/08/2021 - 11:47
        +3

        Lol. Fixed.

        • boomramada on 31/08/2021 - 11:54

          Oh come on dude, how could you forget this deal, https://www.ozbargain.com.au/node/523389
          bought you by Mr Gerry himself ;)

          You sure you aren't Mr Gerry's love child ;)

          I'm just picking on you but GG57 him self a fan boy ;)

  • rompastompa on 31/08/2021 - 11:29
    +12

    Makes you wonder about all the other companies that haven't had 'public pressure' and are pocketing tax payers money.

    • GG57 on 31/08/2021 - 11:31
      +13

      Some would say that "public pressure" is the only way, as the LNP seem extremely reluctant to ask for this back, or to give out details of which companies received what.

      • tonyjzx on 31/08/2021 - 12:15
        +21

        LNP to citizen = we will prosecute every welfare recipient even with false information like robodebt if you mistakenly received jobkeeper/jobseeker.

        LNP to corporations = we're not in the politics of envy, its up to them to give back money if the dont need it

        • afah0447 on 01/09/2021 - 09:27
          +2

          This is only the tip of the iceberg when it comes to the LNP's corporate welfare. Unless you are worth >$10m there is no reason anyone should ever vote for the LNP.

  • Halo375 on 31/08/2021 - 11:32
    +2

    Just getting in front of the PR mess to come.

    • GG57 on 31/08/2021 - 11:35
      +1

      Already happened perhaps.

  • orangetrain on 31/08/2021 - 11:34
    +16

    In Australia, the government threatens to jail you over false debts but if you're rich, you can keep it or return it.

    The rich class' war against the other classes continues.

    • GG57 on 31/08/2021 - 11:37
      -1

      True for the current government.
      I don't think most of the population supports that, but the majority are probably apathetic unfortunately.

    • GG57 on 31/08/2021 - 11:48
      +6

      Different topics to a certain extent. This is more about a company taking advantage of a LNP government initiative (that apparently had little if any controls or oversight) and keeping the taxpayer money when they obviously didn't need it (i.e. still made large profits for shareholders).

      There are numerous other similar topics regarding taxpayer funds / expenditure but not for this post IMO.

      • tonyjzx on 31/08/2021 - 12:18
        +5

        classic whataboutism

        why does it matter when the Navy spends $90 billion on a dozen subs

        the nbn didnt cost that

        also amazing to me is that people will stump up for GERRY HARVEY and not your avg. citizen on welfare

        who are you closer to? gerry on the avg. australian citizen

        • Seraphin7 on 31/08/2021 - 14:09

          Average citizen?

          Or average citizen on welfare?

          • tonyjzx on 31/08/2021 - 14:59
            +4

            @Seraphin7: mate, every citizen gets 'welfare' or 'social security' to some degree

            and yes, i'm closer to someone on the dole or pension that to a bilionaire so who do you think i side with

            • Seraphin7 on 31/08/2021 - 15:26

              @tonyjzx: Just asking the question.

              While most citizens may receive some form of welfare or social security I think most would agree there is a material difference between someone "who is on welfare" against someone who may receive the occasional rebate (such as the $38 or whatever it is for a GP visit) but who is ultimately a very significant taxpayer.

              To play that out, while I have no time for Gerry Harvey/Harvey Norman, I side much more with the average citizen who is not "on welfare" than the one who is.

              • tonyjzx on 31/08/2021 - 23:07
                +2

                @Seraphin7: no no i do not

                i find it funny how people have to elevate themselves above people on the dole or pension as if its beneath them

                i have been on the dole, i have known and worked people on the dole and they are some of the best people i have ever met

                i love like that latent eliteism going on but you do you champ

                • Seraphin7 on 01/09/2021 - 10:10

                  @tonyjzx: You do not what?

                  No elevation or eliteism (whatever that is) … simply saying that (1) there is a difference between the groups, and (2) that I have greater affinity with one group than another.

                  But hey, no harm, no foul.

                  I trust you're happy doing yourself and wish you well.

          • Chandler on 01/09/2021 - 11:50
            +1

            @Seraphin7: If you think you're closer to Gerry than the "average citizen on welfare", you're on the wrong site.

    • orangetrain on 31/08/2021 - 12:18
      +1

      Create a topic for it then. Nobody's stopping you.

  • JimmyF on 31/08/2021 - 11:50
    +6

    So bowed to public pressure… after ignoring it for months and months on end!

    • GG57 on 31/08/2021 - 11:51
      +3

      Probably wanted to see if it was sustained or just a flash outcry.

      • JimmyF on 31/08/2021 - 11:58
        +11

        Yeah he was hoping people would move on to the next outraged issue and forget about this one.

        Its funny the gov will chase up people overpaid a few hundred dollars in centerlink payments, but then its like sure ok just keep those millions we paid you based on your projected income decline that didn't happen.

        All companies should be audited and made to repay the money back if they didn't meet the requirements.

        • orangetrain on 31/08/2021 - 12:10
          +10

          LNP blocked an amendment to jobkeeper bill that would include checks on the company eligibility.

          Jobkeeper was a gift to sleazy business owners.

          • pegaxs on 31/08/2021 - 12:17
            +5

            @orangetrain: But that's the LNP's only function, is to give big business as much of the tax payers money as possible and to let them off the hook for any tax money they own themselves. The LNP are just corporate shills.

            • tonyjzx on 31/08/2021 - 12:30
              +5

              @pegaxs: even by lnp standards that is remarkably sleazy

              on the flipside they make you jump thru hoops for jobkeeper and thats even if they do it 2nd time round

              you have to laugh

              they govern only for fossil fuels and big business

              small business and citizens can get rooted

          • JimmyF on 31/08/2021 - 15:55

            @orangetrain:

            LNP blocked an amendment to jobkeeper bill that would include checks on the company eligibility.

            Of course they did….. But if it was a Labour bill, all hell would have broken lose without checks and balances.

            • tonyjzx on 31/08/2021 - 23:08
              +1

              @JimmyF: labor working lock step with lnp policy especially on privacy is one of the worst things going but at this point, what else we got

              its labor or….. THIS what this is….

            • afah0447 on 01/09/2021 - 09:29

              @JimmyF: This highlights the LNP's complete lack of policy coherence.

    • brendanm on 31/08/2021 - 13:28
      +2

      Gerry probably bought afterpay shares with it, and turned it into $60 million.

  • MingyJongo on 31/08/2021 - 12:12
    +21

    What about the other $16m?

    • apsilon on 31/08/2021 - 12:29
      +3

      Exactly. I'm sure I recall it being reported that they received $22 million from jobkeeper.

      • MingyJongo on 31/08/2021 - 12:37
        +3

        Yep $22m jobkeeper. Net profit of $462.03m in the 2nd half of 2020 and Harvey receiving $78m of dividends. $6m is such a minuscule amount to pay back.

        https://www.theguardian.com/australia-news/2021/feb/26/harve…

        • tonyjzx on 31/08/2021 - 12:52
          +8

          as i understand it, HN the head office gave back $6 mil.

          the franchises who HN cannot force, DID NOT give back that $16 mil.

          but a company that profits a billion a year cant even give back a little bit of the money they're not entitled to?

          • burningrage on 31/08/2021 - 13:16
            +1

            @tonyjzx: That makes sense but are you then suggesting HN HQ still has to return $16m, money it didn't own in the first place because as you said, franchises owned them.

            • tonyjzx on 31/08/2021 - 23:09
              +4

              @burningrage: gerry could have given that money back out of the dividends he made but that wouldnt be in character…

          • RecklessMonkeys on 01/09/2021 - 09:31
            +1

            @tonyjzx: I'd be surprised if the franchise agreement never stipulated something along the lines of damaging the brand. He could force them.

    • Hedgehog on 01/09/2021 - 07:24
      +6

      Exactly, these headlines should have read HN keeps $16m not repays $6m… Looks like they were written by a spin doctor…

  • popsiee on 31/08/2021 - 12:17
    +2

    Did poor Harvey get some public pressure to pay it back hehe .
    He knows it a cheap play to try to get people aboard his shitty company with some good PR .

  • Big Lenny on 31/08/2021 - 12:35
    +4

    Now for Solomon Lew and the other crooks to repay. He took over $100m in jobkeeper

    • jv on 01/09/2021 - 09:52
      +1

      other crooks

      What laws were broken for you to call them crooks ?

  • djones145 on 31/08/2021 - 12:46
    +3

    probably some accounting treatment which is beneficial to return it this financial year

    HN will never return free money

  • Drakesy on 31/08/2021 - 13:26
    +6

    *$6 million out of the $22 million total.
    Screams PR collateral damage control while not really addressing the problem.

    Not buying it.

  • netjock on 31/08/2021 - 13:27
    +1

    They repaid $6m but I am pretty sure they got more (as said above). He got away easy. The ATO would chase us for every cent not cents in the dollar.

    • jv on 01/09/2021 - 09:45
      +1

      I am pretty sure they got more

      Nope, the other money went to franchisees…

      • netjock on 01/09/2021 - 10:42

        franchisees…

        Like they give better discounts than company owned stores. Should we whip out our micro violins.

        • jv on 01/09/2021 - 10:43
          +1

          Should we whip out our micro violins.

          I guess you missed the point.

          • netjock on 01/09/2021 - 10:44

            @jv: That they shouldn't have to pay it back because it went to franchisees?

            • jv on 01/09/2021 - 10:45
              +1

              @netjock: That the Harvey Norman company should not have to pay back money it didn't receive.

              • netjock on 01/09/2021 - 10:50

                @jv: Well the Franchisees haven't paid it back. So boycott should still be on? Why should we have to suffer because they can't coordinate amongst themselves. They can sort out their franchise fees every year.

  • mickyb80 on 31/08/2021 - 13:27
    +1

    aaahhh Gerry… Just means a few less hats and boots for him this year…

    I'm sure there is more to come… and so there bloody well should be!

  • haemolysis on 31/08/2021 - 14:14
    +8

    Would like to see other of the big-time rorters like Lendlease, Blue Care, Mirvac pay some back.

    Mirvac in particular is an amazing rort. Already one of our top 20 tax dodgers, and records revenues of $2 billion a year, no significant decline, they claimed JobKeeper and still had huge layoffs across the company.

    • Big Lenny on 31/08/2021 - 14:27
      +7

      scumbags

      but blame the spineless libs for allowing it to happen

      • jv on 01/09/2021 - 09:47

        If there was no jobkeeper, we'd have 1000% more suicides by now.

        Yet you're happy for Albanese to throw away $6 billion though for vaccination incentives…

  • cashless on 31/08/2021 - 14:44
    +8

    Partial refund from HN. Typical

  • watertight on 31/08/2021 - 23:37
    +1

    Too late, I suspect it was only done under duress, either external pressure or negative brand image resulting in loss of sales. I have blacklisted them for life.

  • LakeVostok on 31/08/2021 - 23:54
    +1

    Repaid $6m out of $22m HN received.

    • jv on 01/09/2021 - 09:46
      +1

      They can't repay money they didn't receive. The other money was paid to franchisees. They are separate business entities and each owner would need to pay it back separately.

  • SydneySwan on 01/09/2021 - 08:33

    I thought Gerry was immune to public pressure.

  • afah0447 on 01/09/2021 - 09:23
    +4

    Damage is already done. This guy is the greediest prick in corporate Australia. He will never get another cent from me.

  • Boogerman on 01/09/2021 - 09:25
    +1

    I'm happy for Jobkeeper overpayments - it will consign the Conservatives to the dustbin next year from the $25B wasted on companies whose profits actually increased
    Don't stuff up the election campaign advertising, Labor

  • b0rnwithabeard on 01/09/2021 - 09:41

    now pay back the other 14mil Gerry!

    • jv on 01/09/2021 - 09:44
      +1

      He didn't receive the other 14 million.

      • TheOtherLeft on 01/09/2021 - 10:13

        Hi franchisees received the other $14m…..however he can tell them to repay it.

        • jv on 01/09/2021 - 10:16
          +1

          He can tell them what he likes, but they are not businesses he owns and they don't have to do what he says.

          • TheOtherLeft on 01/09/2021 - 10:18
            +1

            @jv: I'm sure he has levers he can pull to keep them in line. That's why they pay license fees to use his name.

            • jv on 01/09/2021 - 10:22
              +2

              @TheOtherLeft:

              I'm sure he has levers he can pull to keep them in line.

              That is very different to all the others here saying he should pay it back.

  • jv on 01/09/2021 - 09:43
    +1

    Harvey Norman Repays $6m in Jobkeeper

    How much do they Normally pay back?

  • OzHunterNSW on 01/09/2021 - 09:52

    Stating "public backlash"… well maybe we should have used the ante to 100%.

    This router, and that id what he is, only repaint the "interest" he had received from the millions he rorted from the Australian taxpayer.

    If it were a poor pensioner, pocketing $20, they would be sent to gaol!

    I stay boycott this rorter!

  • saltypete on 01/09/2021 - 10:02
    +1

    He’s too late. We’ve soured on them. We saw a good price on an item from them the other day, but couldn’t bring ourselves to buy from them.
    Got another retailer to price match, they even included extras.
    All I’ll do now is use them, they’re not getting a cent.
    Too late Greedy Harvey!!

  • TheOtherLeft on 01/09/2021 - 10:12
    +1

    So he paid back $6m out of the $20m he was given under Jobkeeper…and only out of public pressure.

    I just had to fit out a home office for my wife and told her NOT to shop from HN due to this and also his lobbying of the govt for the GST under $1k.

  • Associateddisturboed @ Harvey Norman on 01/09/2021 - 10:15
    +3

    Our local HN store didn't receive one cent in Jobkeeper, nor are they getting any other form of government assitance in regards to the NSW lockdown despite sales falling off a cliff as not many people buy furniture and bedding online.

    • TheOtherLeft on 01/09/2021 - 10:17
      +1

      Your local HN must be doing something wrong. HN profits are up nearly 80% ($1.183bn) last FY

      • Associateddisturboed @ Harvey Norman on 01/09/2021 - 10:19
        +2

        yeah that was last FY, sales were definately up then, demand was huge. but it softened quite drastically about may/june and now, the last month or so especially with the full NSW lockdown and no customers in store, it's a different story.

        • TheOtherLeft on 01/09/2021 - 10:20
          +4

          Maybe your locals are saying "(profanity) you!" to Gerry and shopping somewhere else. I know I am.

          • jv on 01/09/2021 - 10:23
            +1

            @TheOtherLeft:

            Maybe your locals are saying "(profanity) you!"

            or maybe they don't want to buy furniture online…

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