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Revenue have announced further changes to the COVID-19 Temporary Wage Subsidy Scheme. The earliest date that these changes will take effect is May 4th however this date is liable to change to a later date.
 
Employees with average net weekly wages of between €586 (roughly €38k per annum gross) and €960 (roughly €76k per annum gross), the rate of the subsidy will vary between anything from €0 to €350 using a tiered approach, which is linked to the extent to which the employer is paying additional gross salary as a top-up payment as follows:
 
  • When running payroll, if the amount entered by the employer in gross pay is up to 60% of the employee’s previous average net weekly wage then the amount of the subsidy will be €350 per week
  • If the amount entered in gross pay is more than 60% but not more than 80% of the employee’s previous average net weekly wage then the amount of the subsidy will be €205 per week
  • If the amount entered in gross pay is more than 80% of the employee’s previous average net weekly wages then no subsidy will be payable
Published: 20/04/2020
 
 

Date published 20 Apr 2020

This article is intended to inform rather than advise and is based on legislation and practice at the time. Taxpayer’s circumstances do vary and if you feel that the information provided is beneficial it is important that you contact us before implementation. If you take, or do not take action as a result of reading this article, before receiving our written endorsement, we will accept no responsibility for any financial loss incurred.

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