I'm a bit unclear about the Revenue rules on Long Service Awareds (text below from revenue website) I want to write a cheque to staff member who has 30yrs service for 1,000. The bit that is confusing me is the second last line "This treatment does not apply to awards made in cash..."
So is a cheque taxable or not.... ?
Long Service Awards
A taxable benefit does not arise in respect of Long Service Awards where the following conditions are satisfied -
So is a cheque taxable or not.... ?
Long Service Awards
A taxable benefit does not arise in respect of Long Service Awards where the following conditions are satisfied -
- the award is made as a testimonial to mark long service of not less than 20 years,
- the award takes the form of a tangible article(s) of reasonable cost,
- the cost does not exceed €50 for each year of service, and
- no similar award has been made to the recipient within the previous 5 years.