Your temporary wage subsidy lifeline comes with a tax bill attached
If you get a €410 Covid wage subsidy top-up to keep your take-home at €624.54 after tax, you will have clocked up a tax liability of about €1,400 in 19 weeks.
The Temporary Wage Subsidy Scheme remains in place until August 31, 2020, and will be replaced in part at least by the Employment Wage Subsidy Scheme (EWSS), expected to run to April 2021.
Under the EWSS, employers and new firms in sectors impacted by Covid-19, whose turnover has fallen 30%, will get a flat-rate subsidy of up to €203 per week per employee, tapered up and down depending on circumstances, including seasonal staff and new employees.
