One of my clients is a shareholder in two different Companies and he gets income from both the Companies as shareholder.
Can he claim Wages subsidy for both the Companies. Both the Companies have suffered loss of income.
Read MoreWe have a question in regards to a member of our team who is over 70 and therefore a vulnerable worker under alert level 3 and possibly under alert level 2, as the work requires site visits to multiple locations during the day.
We do not think we can keep him at 80% of salary while remaining at home after the level 4 lockdown has ended. Do you have any advice or recommendations in this area?
Read MoreDuring the lockdown period I have been working on our financials and also budgets moving forward and our business is not in good shape. I have gone through what costs can be cut, however this will unfortunately not be enough. At the moment I am forecasting a loss of approx 250k in this coming year if we stay as we are, the only way I can see of preventing this is cutting costs and also moving staff from other positions into sales roles so that we are also able to increase our turnover.
I myself have never performed a redundancy/restructure however I have been involved with one by crunching the numbers.
Any advice or guidance on this matter would be greatly appreciated.
If we received the Wage Subsidy for an employee with the intention of retaining him, but now realise we will have to let him go, can I use the balance of the subsidy as a redundancy payment to him?
Read MoreWe are an essential service but due to covid19 we are working reduced hours and most staff are working approximately 50% of their working day. We are paying those employees 80% of their pay by topping up with annual leave. We also have a few workers who are working their normal hours. Can you please clarify the following:
Do we have to top up to 80% without using their annual leave, or can it be topped up with annual leave
Are the employees who are working 100% of their hours entitled to 100% of their pay, or do we reduce this to 80% regardless of the fact that they are working 100%
If a company has no staff, but two directors each of whom is entitled to get the subsidy, what is the entitlement? 1 x $7029 ? or 2 x $7029?
Read MoreThe wage subsidy is not taxable, will staff wages be deductible, or have to be proportioned to remove the non deductible part? Eg, staff weekly wage = $2,000 wages subsidy =585, so deductible = $2,000 - 585 ? How does this work? Please help.
Read MoreThere is a confusion about the wage subsidy. Are employers required to pass the weekly subsidy to employees? Most our clients' employees are on much higher salaries than the $585 per week. For those clients, they have to top up their employees' pays. But for the part time employees, especially, they may work 10 hours a week at $20 per hour, their weekly pay = $200 which is less than the under 20 hours subsidy of $350. Do employers need to pay the part time staff $350, although the staff's normal part time job weekly pay is only $200?
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