Queensland luxury vehicle dealers among those which claimed JobKeeper and made profits

A luxury car dealer and another that sells Harley Davidson motorcycles were among thousands of Queensland companies that have posted millions of dollars in profits despite also receiving JobKeeper payments, ASX documents show.

A car dealer that sells Aston Martins and Rolls Royces and another that sells Harley Davidson were among thousands of Queensland companies which were on JobKeeper but went on to see their profits increase.

Motorcycle Holdings and Autosports Group each received JobKeeper wage subsidies for hundreds of staff, but had revenue and profits increase in the 2020-21 financial year, documents filed to the ASX show.

The companies were eligible and the JobKeeper claims were entirely within the rules, which for the first six months only required forecast fall in financial turnover of at least 30 per cent.

A company which sells Aston Martin luxury cars claimed JobKeeper, before going on to increase its profits in the 2020-21 financial year. Picture: Supplied

Opposition assistant treasury spokesman Andrew Leigh said $20 billion in JobKeeper went to firms with rising revenues across the country, but Treasurer said the scheme provided certainty for businesses to keep more staff in jobs.

Mr Leigh said too much JobKeeper money went to firms with rising revenues and that the Morrison Government “showered cash on Aston Martin dealers like they were making an overpriced Bond movie”.

“Motorcycle Holdings needed JobKeeper about as much as a motorbike needs airconditioning. The program should have been about helping battlers, not padding corporate profits,” he said.

Autosports Group reported an operating revenue increase by almost $300 million to $1.9 billion and profits rise from $18 million to $61 million, after a strong bounce back in 2021.

But its reports also showed profits before tax fell by about $29 million in the second half of the calendar year 2020, while it received $10.4 million in JobKeeper to support up to 1333 staff in that period.

Opposition assistant treasury spokesman Andrew Leigh says JobKeeper payments padded out company profits. Picture: AAP Image/Joel Carrett

Motorcycle Holdings had up to 626 staff on JobKeeper, while it had its operating revenue increase by $67 million to $415 million in the 2021 financial year.

Treasurer Josh Frydenberg said the Morrison Government would not retrospectively clawback JobKeeper payments from eligible businesses.

“Only Labor is threatening to put a handbrake on Australia’s economic recovery by threatening to pursue eligible JobKeeper businesses who have done nothing wrong,” he said.

“At a time of huge uncertainty, these businesses kept their employees in work and were required to pass on every dollar of JobKeeper they received.”

A recent report into the first six months of JobKeeper found about 47,000 Queensland companies reported increased turnover during that period.

Mr Frydenberg said 99 per cent of the companies that did not experience falls in turnover of more than 30 per cent were small businesses with an average of four employees.

Motorcycle Holdings and Autosports Group were contacted for comment.