News

Updated Details of Government Income Support Scheme

Updated Details of Government Income Support Scheme

Income Support Scheme

An eligible employer will be supported up to 70% of an employee’s take home income up to a maximum weekly tax free payment of €410 (that is, 70% of take home weekly income of €38,000 per annum). The scheme will provide support on incomes up to €76,000 or twice average earnings. It will be capped at net €350 for incomes between €38,000 and €76,000.

The employer is expected to make best efforts to maintain as close to 100% of normal income as possible for the subsidised period. Revenue will provide further guidance on operation of the scheme: https://revenue.ie/en/Home.aspx. There will be severe penalties for any abuse of the scheme.

Eligibility for the Income Support Scheme

Employers must self-declare to Revenue that they have experienced significant negative economic disruption due to Covid-19, with a minimum of 25% decline in turnover, and an inability to pay normal wages and other outgoings, in accordance with guidance to be issued by Revenue.

This scheme is open to impacted employers in all sectors. This recognises the impact that Covid-19 is having across all parts of the economy.

The employee must have been on the payroll in February 2020.

Self-employed Workers

Self-employed who qualify will be paid the COVID-19 Pandemic Unemployment Payment of €350 rather than through the Revenue scheme. They will be eligible on a similar basis as the Revenue scheme for employees.

How to Apply

Revenue and the Department of Employment Affairs and Social Protection will provide details to employers on how to apply: DEASP Website

Click to add a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

Michael Flood is the Editor of Ireland's leading travel industry publication, Irish Travel Trade News. With more than 35 years experience, he has accumulated an in-depth knowledge of the airline industry and the travel and tourism world.

More in News

David Speakman Tells UK Industry: “Don’t Wait for Government Help”

Neil SteedmanSeptember 30, 2020

Willie Walsh Appointed Deputy Chairman of CarTrawler

Neil SteedmanSeptember 29, 2020

G Adventures to Host ‘Retravel Live’ Virtual Event Series

Neil SteedmanSeptember 29, 2020

Travel Solutions Launches Lake Garda Programme Direct from Belfast

Neil SteedmanSeptember 29, 2020

London Travel Week Will Be Fully Virtual in 2020

Neil SteedmanSeptember 29, 2020

IATA Calls for Universal Testing to Rebuild Aviation Confidence

Neil SteedmanSeptember 29, 2020

UNWTO Launches New Tourism Recovery Tracker

Neil SteedmanSeptember 29, 2020

Emirates to resume flights to Johannesburg, Cape Town, Durban, Harare and Mauritius,

Michael FloodSeptember 29, 2020

ITAA Calls for Covid-19 Tests Before Flight Departures

Neil SteedmanSeptember 29, 2020

Copyright © 2019 Belgrave Group Limited, C4 Nutgrove Office Park, Nutgrove Avenue, Rathfarnham, Dublin 14, Ireland