Are you aware of the JobsPlus Incentive?
What is the JobsPlus Incentive?
The JobsPlus Incentive to employers is worth either €7,500 or €10,000. An employer must recruit a new employee who is currently in receipt of a Jobseekers payment. The higher payment is made when the new employee has been on the live register for more than 24 months.
Although the JobsPlus Incentive has been in place since July 2013 this is a quick reminder for employers in the hunt for new staff.
It’s a great incentive!
This is a great incentive as it represents an effective rebate of 40% of the annual gross wage costs for someone earning the minimum wage (€9.25/hour as from 1/1/2017). Furthermore, the money isn’t subject to income tax or corporation tax for the employer; it’s completely tax free!
How is it paid?
The rebate is paid monthly over 24 months directly to the employer’s bank account.
What conditions apply?
There a couple key conditions which must be satisfied:
- The new employee must be on the live register for at least 12 months.
- The new employee must be guaranteed at least 30 hours per week, over a minimum of 4 days.
- The employer is registered for PAYE and the employee is on the payroll system.
- Both the employer and the employee must register their interest in the scheme on the Dept. of Employment Affairs and Social Protection website.
I have no employees presently, therefore will it apply for my first employee?
Another great benefit of the scheme is that it may apply even if you’re recruiting your first employee; the department website doesn’t explain this point all that well. I have however confirmed that it would apply for your first employee provided all the conditions are satisfied and that the employee is eligible.
For more details please refer to https://www.welfare.ie/en/Pages/jobsplus.aspx/