To be eligible for the scheme employers would provide up to 70% of an employee’s average weekly take home pay up to a maximum of €410. This is non-taxable by the employer. This works out as 70% of an annual salary of €38,000. The scheme would also provide supports on salaries up to €76,000 and the support would be capped at €350 per week for salaries between €38,000 and €76,000.
The changes applicable from the 4th May 2020 were:
- The subsidy would increase from 70% to 85% for employees with a previous average take home pay below €412 per week
- The subsidy would be a flat rate of €350 per week for employees with a previous average take home pay between €412 and €500 per week
- The subsidy remained the same of up to 70% capped at €410, for employees with a previous take home pay of between €500 and €586 per week
- A tiered system was introduced for employees with a previous take home pay of over €586 per week and less than €960 per week.
The Temporary Wage Subsidy Scheme ceased at the end of August 2020.
Week 1 basis was applied for all employees in receipt of the Wage Subsidy Scheme.
To find out more and to answer many of your questions we have put together an 8-page Factsheet covering registration, eligibility, deductions, refunds and much more. To download your copy just click on the button