Hello Taxpayers! Claim your €125 Cash Back with Staycation Subsidy
Ireland has always amazed the world with its elegance. Even though the country is small in its geographical size, it offers some remarkable attractions that have turn out to be the brand of its tourism sector.
Like every other country, Ireland’s tourism and hospitality industries has also become one of the unkind victims of the Covid19 pandemic. But now they are on the recovery phase. In order to support the “back to normal” thing, the government has recently introduced a stimulus package to tourism and hospitality industries across the country. The package mainly focuses on inviting more home tourists to explore the possibilities of country’s productive and lively foreseeable future in tourism and hospitality. This scheme will encourage taxpayers to support domestic service providers of lodging and food during the off-season and extend a support hand to the impacted sectors.
The announcement went public during the July stimulus packages announced by Taoiseach Micheal Martin as a part of a €5.2billion stimulus package to enhance the Irish economy.
A Government statement said: “The new employment wage support scheme and the seven-month extension of the pandemic unemployment payment will provide much needed certainty to businesses and individuals in the coming months.”
With that in mind, the stimulus package attempts to focus on making the most out of it by setting the holiday at home in their droves in the form of the Stay and Spend Incentive.
So, what exactly is the staycation subsidy?
In simple words, it is the funding offered by the government to promote at-home tourism in Ireland. This Stay and Spend Incentive will see any taxpayer spending over €625, on accommodation, food and non-alcoholic drinks will be able to claim back €125 through a tax credit. That amount will be tied with a €10m start over fund for the tourism sector, along with a fresh €10m performance support scheme for the culture sector to aid in “planning for events in the context of Covid-19”.
Who are the eligible categories to this subsidy?
It is being envisage as a huge support for those who badly impacted in hospitality and tourism sector since the corona wind started waving. As per the announcement, all Irish tax payers who spend more than €625 on accommodation, food, and non-alcoholic drinks in Ireland will be eligible to this subsidy.
What is the exact duration for this subsidy?
The validity of this incentive is confined from 1st October 2020 to 30th April 2021.
What are the proposed conditions for cash back?
- A tax payer have to spend a minimum amount of €25 on qualifying expenditure
- He/She has to submit the receipt to Revenue with the help of a mobile app
- The taxpayer may submit receipts up to a cap of €625 total
- Revenue will provide an income tax credit of €125 per taxpayer, or up to €250 for a jointly-assessed married couple
Being a responsible citizen, let us see this as an opportunity for shaping our country’s economy especially in relation to tourism and hospitality. So let us together smell the fragrance of Glendalough Monastic and the excitement and nostalgia of Killarney National Park. We know these are just the beginnings. Who else better than its own people know what’s there to explore! We will be there for you to make sure you get refund your tax and your smile stays as it is. Because we are the highest rebate and fastest service provider in accounting, taxation and payroll services.
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