Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Query About Bonus

Options
  • 15-12-2019 3:33pm
    #1
    Irishdreamer
    Registered Users Posts: 26 ✭


    Hi,

    Just wondering if anyone can help with a Christmas Bonus question. This is our first year giving the staff a bonus for Christmas.

    I have looked up various websites about Christmas Bonuses and the small benefits reliefs.

    My question is if someone gets a Christmas Bonus of €700 and gets this bonus as a gift card of €500 and the remaining €200 is added to their wages for a week, is only the €200 taxable through our payroll system?

    The information seems to vary. For example one website said "If the €500 value is exceed in any year then the total benefit is liable for tax. There is no exemption for the first €500."

    Apologies if this seems like a stupid question.
    Tagged:


Comments

  • Options
    #2
    barneystinson
    Registered Users Posts: 4,683 ✭✭✭barneystinson


    It’s one benefit (not in cash) of up to €500 in a year.

    So, you can give a €500 voucher (tax free) plus €200 (taxed).

    All the article you quoted was telling you, is that you can’t give a €700 voucher and only tax €200 of it.


  • Options
    #3
    Irishdreamer
    Registered Users Posts: 26 ✭Irishdreamer


    barneystinson wrote: »
    It’s one benefit (not in cash) of up to €500 in a year.

    So, you can give a €500 voucher (tax free) plus €200 (taxed).

    All the article you quoted was telling you, is that you can’t give a €700 voucher and only tax €200 of it.

    Perfect! Thanks!


Advertisement