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The Temporary Wage Subsidy Scheme was extended yesterday up to the end of August.

Jun 6, 2020

The Temporary Wage Subsidy Scheme was extended yesterday up to the end of August.

 

Thanks to this, every employer who meets the required conditions should benefit to a greater or lesser extent (depending on when the employee returns to work).

The following conditions must be met to apply for this non-refundable assistance from Revenue: Employers must confirm that because of Covid-19 their companies have experienced a negative economic downturn.

It will have to be proved that the company’s turnover has fallen by at least 25% during the pandemic and the employer is not able to pay 100% salary to the employee at the moment but wishes to keep this employee on payroll. The employee must be employed in the company since at least February 29, 2020.

The employee must inform Social Welfare about returning to work and stop claiming COVID19 Emergency payment. Within 2-3 business days, Revenue repay 85% or 70% of the employee’s wage (maximum € 410) to the employer’s bank account. It is 85% or 70% of the average weekly payment in the period January – February. TWSS is one of the help offered by the government for COVID-19. Feel free to contact me if you have questions.

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