Coronavirus: Better Call Sol - CORONAMANIA (2 Viewers)

IFF

Well-Known Member
Supporter
Joined
May 19, 2002
Threads
84
Messages
3,021
Location
a place between somewhere and nowhere
I am just wondering if there is a flaw in the wage subsidy scheme (or flaw in my thinking, probably the later but I just want to think out loud) calculations that has meant employees on it have in reality got a pay cut (I am easily wrong on this)

We are taxable but just not at source.
While my take home pay is the same as before entering the scheme, I owe the tax on it to the revenue (by way of reduction of credits in 2021) while previously I had the same take home pay but tax had been deducted by the employer.

My own calculation (probably wrong) is for the last 3 months, the effect is a 14% decrease in the gross.
 

ernesto

Big stanks
Supporter
Joined
Mar 21, 2004
Threads
207
Messages
16,204
Location
in my head
Website
strikeaction.bandcamp.com
I am just wondering if there is a flaw in the wage subsidy scheme (or flaw in my thinking, probably the later but I just want to think out loud) calculations that has meant employees on it have in reality got a pay cut (I am easily wrong on this)

We are taxable but just not at source.
While my take home pay is the same as before entering the scheme, I owe the tax on it to the revenue (by way of reduction of credits in 2021) while previously I had the same take home pay but tax had been deducted by the employer.

My own calculation (probably wrong) is for the last 3 months, the effect is a 14% decrease in the gross.


my wages Actually increased because I wasn't being taxed on the Covid subsidy.
So I'll have to pay that back next year.
I assume it'll balance out.

I think your take home pay should have increased. Or else you shouldn't owe Money to revenue next year.

Actually sounds like the accountant in Your work Has made a balls of it
 

IFF

Well-Known Member
Supporter
Joined
May 19, 2002
Threads
84
Messages
3,021
Location
a place between somewhere and nowhere
my wages Actually increased because I wasn't being taxed on the Covid subsidy.
So I'll have to pay that back next year.
I assume it'll balance out.

I think your take home pay should have increased. Or else you shouldn't owe Money to revenue next year.

Actually sounds like the accountant in Your work Has made a balls of it
We're all accountants in my work 😀

The subsidy scheme amounts that the revenue are giving is based on the Average Revenue Net Weekly Pay for the first 2 months and the employer top up is based on a percentage of that. For payroll, the revenue issue a long document on it on what can be paid to employees by way of both subsidy and the top up

Until last week, take home pay had been higher because of refund of the tax and usc due to the reduction in gross wages meaning the weekly tax credits were more than the tax due in the week)

With revenue reissuing new tax credit certs (rpns), it has meant that with the week 1/ month 1 basis, there is no longer the tax and usc refund.

There may still be a little increase in it being that Prsi ee is not being deducted

There is two people better at payroll in my work so I'll talk to them.
 

magicbastarder

Well-Known Member
Joined
Sep 14, 2006
Threads
78
Messages
6,122
Website
stroma.org
thing is, that's simply the way the pharma industry works. everyone else in the pharma industry is probably screaming at him for his stupidity in brazenly announcing it, though.

basically, the pharma industry is like a hairdresser. it costs them €15 to cut your hair, but if you're getting married, whoah, that's €100 now.
 

magicbastarder

Well-Known Member
Joined
Sep 14, 2006
Threads
78
Messages
6,122
Website
stroma.org
i was once talking to someone (i think after a tycho brahe gig years ago) who worked for a pharmaceutical company, and their job was deciding how much to charge for drugs. i think their job title might have been ethical economist, though that bit is hazy.
lots of factors at play - how much the research cost, were there competitors dealing with the same ailment, did it cure or merely mitigate the ailment, was the ailment terminal, how long an expected course might be, etc. etc.

all things which would be considered perfectly normal for any product were it not medicine, and becomes slightly distasteful when you write it down, and coupled with the fact that the pharma industry are frequently kinda hateful.
 

Cormcolash

Well-Known Member
Joined
Aug 20, 2002
Threads
334
Messages
19,464
Location
THIS IS SPARTA!!!
Website
geocities.com
It's one of the more blatantly horrendous symptoms (geddit) of capitalism. The Pharma industry basically shouldn't exist. Ideally there'd be an organisation like the WHO in charge of all that shit in a worldwide basis, that would receive at least the same amount of funding from corporation taxes etc. and wouldn't give a single thought to 'how much money can we make off this drug' or any of that shit.
Instead, we have lovely capitalism.
 

magicbastarder

Well-Known Member
Joined
Sep 14, 2006
Threads
78
Messages
6,122
Website
stroma.org
i have heard on the grapevine that there's a lot of anger at roche over the way they supplied the testing kits for covid-19, they were stiffing people on the (insert the name for the medium which deactivated but preserved the virus between sampling and testing)
 

Create an account or login to comment

You must be a member in order to leave a comment

Create account

Create a thumped.com account. It's easy!

Log in

Already have an account? Log in here.

Users Who Are Viewing This Thread (Users: 0, Guests: 1)

Support thumped.com

Support thumped.com and upgrade your account

Upgrade your account now to disable all ads... If we had any... Which we don't right now.

Upgrade now

Latest posts

Trending Threads

Latest threads

Top