Tax Briefs
28th October 2009Pay and File Summary
The following is a summary of upcoming pay and file dates:
Income Tax
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Filing date of 2008 return of income
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31st October 2009
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Pay preliminary income tax for 2009
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31st October 2009
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Online filing date of 2008 return of income
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16th November 2009
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Online payment of preliminary income tax for 2009
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16th November 2009
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Capital Gains Tax
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Payment of Capital Gains Tax for the disposal of assets made between 1st January 2009 to 30th November 2009
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15th December 2009
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Payment of Capital Gains Tax for the disposal of assets made during the month ended 31st December 2009
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31st January 2010
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Revenue Job Assist Scheme
Revenue Job Assist Scheme has been in place since 1998, however it remained anonymous throughout the boom years when unemployment was at its lowest. The scheme provides employers with a double wage and employers PRSI deduction in calculating total income for tax purposes for three years where they employ an individual who has been unemployed for the previous 12 months.
In order to be classed as a qualifying employer for the scheme, the following requirements must be met:
- No redundancies must have been implemented by the employer within the previous six months.
- The employer cannot have lost an unfair dismissals claim to the previous holder of the employment.
- The employer cannot be in receipt of other employment subsidies.
- The employee cannot be a spouse or child of the employer.
- The role must be capable of lasting 12 months and must involve at least 30 hours per week.
- The remuneration cannot be more than 75% commission based.
Employees must meet the following criteria to participate in the scheme:
- The individual must have been unemployed for the previous 12 months and in receipt of unemployment payments from the Department of Social and Family Affairs e.g. Jobseekers Allowance, Illness Benefit etc.
- The individual cannot have been a ‘qualifying employee’ under the rules of this particular scheme in the past.
A qualifying employee will receive extra personal tax credits on a reducing scale for the first three years. They may also receive extra child tax credits, retain their medical card and potentially retain other benefits such as fuel allowance. There is no cap on the number of qualifying employees that may be employed. Given the Central Bank’s recent prediction of increased unemployment throughout 2010 it is likely that the Revenue Job Assist Scheme will prove to be a valuable incentive to businesses in the coming years.
