What is your airline doing?
Join Date: May 2008
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KLM
Full salaries+benefit payed as per normal, no redundancies.
The deal:
Government pays 90% of a companies payroll to a max of €9500 per person/month.
The company must pay the remaining 10% +the difference if salary > €9500/month and can NOT fire anybody.
Arrangement is for 3 months with another 3 months available should the economic situation dictate.
So normal full salaries for everyone, regardless of income.
Keep in mind that we pay (in the top bracket) 49,5% income tax, so part of it flows back to the state.
Full salaries+benefit payed as per normal, no redundancies.
The deal:
Government pays 90% of a companies payroll to a max of €9500 per person/month.
The company must pay the remaining 10% +the difference if salary > €9500/month and can NOT fire anybody.
Arrangement is for 3 months with another 3 months available should the economic situation dictate.
So normal full salaries for everyone, regardless of income.
Keep in mind that we pay (in the top bracket) 49,5% income tax, so part of it flows back to the state.
Join Date: Nov 2007
Location: malta
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So anyone earning 9500 euro or more gets 9500 euro, it is that simple.
Don't be greedy.
Personally I have enough to get fired and live like nothing happend for a whole year, but am still mightely glad I get full pay. It either keeps my emergency funds untouched longer or, if I somehow keep my job, it can get used when the paycuts come.
Join Date: Sep 2007
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Join Date: Mar 2012
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Everyone in the Netherlands, employed at a Dutch company gets the same rules, not just pilots.
So anyone earning 9500 euro or more gets 9500 euro, it is that simple.
Feel however you want, it is how it is. The Idea behind this program is to keep the economy going by everybody spending the normal amount of money. Therefore you need roughly the same income.
Personally I have enough to get fired and live like nothing happend for a whole year, but am still mightely glad I get full pay. It either keeps my emergency funds untouched longer or, if I somehow keep my job, it can get used when the paycuts come.
So anyone earning 9500 euro or more gets 9500 euro, it is that simple.
Feel however you want, it is how it is. The Idea behind this program is to keep the economy going by everybody spending the normal amount of money. Therefore you need roughly the same income.
Personally I have enough to get fired and live like nothing happend for a whole year, but am still mightely glad I get full pay. It either keeps my emergency funds untouched longer or, if I somehow keep my job, it can get used when the paycuts come.
Join Date: Feb 2006
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I think you got my message wrong. Nothing against who earns that amount or more, regardless what they job is. However the taxpayer shouldn't be paying for such high limit. How many people earns that amount there? Isn't that nearly 3 times above minimum wage? How can a government justify to only pay 90% of Mr. De Jong's minimum wage, but at the same time throwing €9500 a month to someone, just to keep they living standards? Sounds like senior management who forces pay cuts across the workforce but keeps theirs the same. Do you think Mr. De Jong will be spending money to boost and keep the economy going? It is just food for thought.
Join Date: Nov 2007
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I think you got my message wrong. Nothing against who earns that amount or more, regardless what they job is. However the taxpayer shouldn't be paying for such high limit. How many people earns that amount there? Isn't that nearly 3 times above minimum wage? How can a government justify to only pay 90% of Mr. De Jong's minimum wage, but at the same time throwing €9500 a month to someone, just to keep they living standards? Sounds like senior management who forces pay cuts across the workforce but keeps theirs the same. Do you think Mr. De Jong will be spending money to boost and keep the economy going? It is just food for thought.
So everyone will keep 100% of his pay..
Join Date: Oct 2011
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temporarily laid off until god knows when. Expecting an unemployment salary of 850€, compared to my usual income of around 7500€. even though I have paid an average of 50K per year in taxes for the past 15 years. No additional money provided by the airline. Can anyone beat that? I hope not many other people have to put up with such a rip off. Good luck to everyone
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Join Date: Jul 2001
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The silver lining - we won't be paying all that tax any more - who needs Monaco!
Of course, the governments of the world desperately need our tax dollars to pay for consequences of the shutdown, but they should have thought of that before they pulled the plug out of the economy.
Of course, the governments of the world desperately need our tax dollars to pay for consequences of the shutdown, but they should have thought of that before they pulled the plug out of the economy.
Only half a speed-brake
Chinese whispers from the overwhelming most if not all of the HNA conglomerate. Guesstimate is 500-600 foreign pilots under that umbrella.
Since 01FEB instruction to go home via Chinese WhatsApp or email from the office assistant, income exactly 0 ever since. No relevant information either. Agency's advice is to follow the instructions from the airline in case you want to come back one day, the lack of any such instruction notwithstanding.
Tax certificate shows 40% deduction from gross to net in 2019.
Requests to the airline for releasing the licence at CAAC (for a possible change of employer within P.R.C at an un-specified opportunity) denied. People who stayed in the country and are ready to join the limited operation are also stood down.
As everyone's currency (SIM / 90 days landings) expires, this means that if coming back it will be zero pay until SIM checked due to failure on the pilots' side. And the main problem with that is during the normal times the (waiting for) SIM period was a throw of dice - randomly one to six months.
T.I.C.
Since 01FEB instruction to go home via Chinese WhatsApp or email from the office assistant, income exactly 0 ever since. No relevant information either. Agency's advice is to follow the instructions from the airline in case you want to come back one day, the lack of any such instruction notwithstanding.
Tax certificate shows 40% deduction from gross to net in 2019.
Requests to the airline for releasing the licence at CAAC (for a possible change of employer within P.R.C at an un-specified opportunity) denied. People who stayed in the country and are ready to join the limited operation are also stood down.
As everyone's currency (SIM / 90 days landings) expires, this means that if coming back it will be zero pay until SIM checked due to failure on the pilots' side. And the main problem with that is during the normal times the (waiting for) SIM period was a throw of dice - randomly one to six months.
T.I.C.
Last edited by FlightDetent; 27th Apr 2020 at 08:02.
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Making good money is one thing. Having a great financial advisor is another. Could I suggest to all that at times like these it is ever more important to reduce your tax paid. Indeed spend the time reviewing your past and reclaiming ‘missed’ opportunities . HMRC will allow you to reclaim into your past 4 or 5 years etc. From someone who thought I’d always had it sorted........the help of a good advisor has really helped. The last month has been a great opportunity to ‘write to HMRC’ and do some of the things I’ve been putting off. Some of the chaps I’ve flown with are great pilots but are often married to people ‘digging for gold’, making lots of money but living on ‘day off payments’. How can the top 1% be struggling in good times? And now I wonder how they are doing. Wipe the slate clean chaps, if the good times return you’ll be in a better position. GLA.
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married to people ‘digging for gold’, making lots of money but living on ‘day off payments’. How can the top 1% be struggling in good times? And now I wonder how they are doing. Wipe the slate clean chaps,
Which missed tax opportunities do you refer to specifically? I went from that 60% tax band to zero, just as the tax year switched - can the two tax years be merged to get a refund of the 60% bit and use two years worth of tax allowance? A good thing to do is change your tax code online if you're receiving any furlough/oddjob income, so that it is taxed at just the basic rate.
Join Date: Nov 1998
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Hi Joe, Where do I start? For me a few quickies........reducing your tax band by making large payments into a pension (up to your max) also using past years allowances, claiming for higher rate tax relief on past years non salary sacrifice contributions, switching to SS pension contributions, claiming back past years dividend withholding taxes, contributing to your spouse’s pension (tax relief), digging out former companies pensions which were gathering dust, reducing this years tax by informing HMRC of your reduced earnings, moving pension payments into better performing funds rather than the default choices, opening a pension for your children (25% uplift from HMRC), moving shares into ISA, full ISA contributions, informing HMRC of any past Capital losses to offset any future gains, etc etc. And of course the most important one of all.......needs and wants......stop spending. Oh yeah don’t marry a gold digger and definitely don’t get divorced. Does she love me because I’ve got four bars on my uniform? 😁
I always viewed financial advisors as being a bit dodgy but a good one will make/save you 10 times what you pay him. If only I’d swallowed my pride 20 years ago and got one onboard.
Apologies for the thread creep just wanted to put it out there.......be proactive with your money. GLA
I always viewed financial advisors as being a bit dodgy but a good one will make/save you 10 times what you pay him. If only I’d swallowed my pride 20 years ago and got one onboard.
Apologies for the thread creep just wanted to put it out there.......be proactive with your money. GLA
Join Date: Dec 2008
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Or you could spend the time financially educating yourself and save the small fortune you will pay an IFA over your lifetime. 1% of your pot compounded over 30 years is an eye watering amount.
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He has a Doctorate, I trust him and is an expert in his field. His less than 1% is only on the small amount I have invested with him. However my entire position benefits hugely. I agree education is key, I’ve learnt much from him. Hope the good times return soon.
Stood down on 0% pay, government here will pay $2500 per month minus tax for 12 weeks. Can use accrued leave if you have any and then that’s it. Funnily enough it is being reported in the media how well we are being looked after as the airline hasn’t made anyone redundant. I am currently working in a supermarket :-).