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Industry flocks to JobKeeper handouts

Nearly 13,500 businesses in financial services and insurance enrolled for JobKeeper payments, according to an industry-level breakdown from the Australian Taxation Office.

JobKeeper enrolments crossed 835,000 businesses employing over 5.5 million workers on May 12.

But the most recent industry-level breakdown of applications is as of May 6.

At that date, 13,493 financial and insurance services businesses had applied for the payments. More than half of this is across New South Wales (4652 applications) and Victoria (3252) put together.

In Queensland 2685 financial and insurance services businesses have applied for JobKeeper payments for their employees. This is followed by 1342 in Western Australia, 888 in South Australia, 131 in Tasmania, 140 in ACT and 44 in Northern Territory.

While the total of 13,493 applications from the financial sector sounds high, it was only 1.85% of the total JobKeeper enrolments received by the Australian Taxation Office as at May 6.

The industrymost in need of JobKeeper payments is professional, scientific and technical services with 107,333 enrolments accounting for nearly 15% of the total.

The mining sector's revenues have proven the most resilient with only 1236 enrollments for the payments.

Nearly 87% of the applications were from small businesses with average annual turnover of less than $2 million.

Large organisations (with greater than $250 million in turnover) had seen 1582 enrolments. About 14,000 non-profits have also applied for the payments.

Read more: JobKeeperAustralian Taxation Office
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