If you're thinking of employing additional employees, then you may be able to claim additional tax deductions. The Revenue Job Assist allows employers a double wages deduction* in their accounts, if they employ a person who has been unemployed for 12 months or more.
*The double wages deduction may last for 3 years and applies to:
- Wages paid to a qualifying employee in a qualifying employment and
- Employer's PRSI contributions paid in respect of such wages
In addition you may also qualify for the Department of Social Protection Employer Job (PRSI) Incentive Scheme
Double Wages deduction
The double wages deduction is an additional deduction in calculating your taxable income for the year of assessment or accounting period.
It can last for a period of up to three years from the date the employment commences, provided the employee is still employed by you. There is no limit to the number of 'qualifying employees' you can take on under the scheme, provided they take up 'qualifying jobs'.
The deduction is not due if either you or the employee has benefited or is benefiting under any other employment scheme in respect of the job.
Double PRSI deductions
Under the Revenue Job Assist incentive you can claim a double deduction in your accounts for employer’s PRSI contributions paid in respect of the wages paid to the qualifying employee.
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