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I have employees earning between €38k & €76k. How will the changes to the Wage Subsidy Scheme affect me?

I am an employer with 3 employees all earning between €38k and €76k per annum. How will the changes to the Wage Subsidy Scheme affect me?

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
 
 

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