Monday 21 October 2019

Lowest incomes get more holiday pay, high incomes face a cut

Photo: Arena73 via Wikimedia Commons

People on incomes from €34,000 a year will get less holiday pay this year because of changes to the tax system, the Telegraaf reported on Wednesday.

The bonus is paid out at the end of this month to workers on fixed contracts. People who work for staffing agencies get a monthly payout.

Minimum wage earners will have €35 more to spend on their holidays this year while people earning €34,000  – the average wage – will take a €3 cut, according to calculations by payroll company ADP.

However, people earning around €72,000 will see their holiday pay reduced by €117 in this month’s salary slips.

Family spending institute NIBUD said in 2017 that 48% of people spent the bonus on holiday related activities while 40% put it away for a rainy day.

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