Originally Posted by
nztx
Excellent analysis there Ferg
My thoughts too - 100% of subsidies had to be paid out (or unpaid portion returned)
I'm of thoughts that the way reporting the subsidy is flawed, in reports of listed companies
The legislation provided that the wages paid from subsidy & subsidy were non taxable / non deductible
It's questionable whether wages paid up to subsidy level were even a company expense, perhaps
net off (with associated note of what was netted off) would have been more appropriate.
The true wage cost over subsidy period is in fact the amount in excess of any subsidy, which the entities
paid out & wore at the end of the day
Add on AC Levies, Kiwisaver, HP and all the extra Remuneration oncosts associated to arrive at figure
for Overall net outgoing when Covid times trading was negligible / stores were closed
but just MTCW .. ;)
Merry Christmas to all and best wishes for the holiday season !