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Wage Subsidy Calculator

01 April 2020

This simple calculator has been prepared to assist you with determining the value of the government wage subsidy that you might receive.

Refer to the FAQ sheet and Work and Income's Declaration for more information. 

 

Wage Subsidy
  ≥20hrs pwk <20hrs pwk
Enter number of staff
Rate per week $585.80 $350.00
Weeks paid by government 12 12
  $21089 $8400
Total paid by government   $29489

  • This payout is not taxable income, and does not attract GST
  • The employer should make best efforts to pay 80% of the normal salaries to employees for whom they have claimed the wage subsidy
  • The employer must retain the employee for whom they have claimed the wage subsidy for the period of the subsidy
  • When paid to the employee(s), it is taxable to the employee(s) and normal PAYE/KS will need to be deducted. These payments are non-deductible to the employer

 

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Information included in this insight was last updated on 1.04.2020