- Under the Government’s Small Benefits tax exemption policy, businesses can reward staff up to €500 once per year completely TAX FREE
- Directors and employees can claim the Small Benefits Tax Exemption
- Significant tax savings of up to €653.65 in tax per employee!!!!!
- For example, a weekly gross wage of €1,042 would be taxed as follows;
The exemption can only be used once per year, and cannot be aggregated. For example, if you give a €350 gift card in the middle of the year, this will qualify for the Small Benefits exemption. However, if you subsequently give a gift card worth €150 later in the same year, this will not qualify and you will need to pay tax, USC and PRSI on the gift
- Any non-cash gift up to the value of €500 qualifies for the Small Benefits exemption, including hampers, homeware, gadgets, theatre tickets etc
- One4all Gift Cards are accepted in over 11,000 outlets nationwide and online
- It is not possible to return a One4all Gift Card bought under the Small Benefit Exemption in exchange for a cash sum, as your employer may become liable to pay tax on the gift