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Net weekly pay is the employee’s Average Net Weekly Pay for January and February 2020 based on submissions made to Revenue by 15 March 2020.
To calculate the Average Net Weekly Pay, using the values in the payroll submission for each pay date in January and February 2020:
  1. Take the employee’s Gross pay and from it subtract the Income Tax Paid, the USC Paid and the Employee PRSI Paid
  2. Total this figure for each pay date in January and February 2020 and divide this by the number of insurable weeks the employee was on the payroll (capped at 9) for the period.
This gives you the employee’s average net weekly pay that is to be used for calculating the subsidy amount.
Learn more about the scheme here 
Published 02/04/2020

Date published 2 Apr 2020 | Last updated 2 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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