Commenting on the announcement that there are now over 330 local shops and businesses redeeming “Shop Local Gift Vouchers” Chamber President Pat McCormick is calling on members of the public and the business community to get behind the Shop Local Vouchers this Christmas and give them as Christmas presents to family and staff. “With over €8 million sold to date , they have been a resounding success” commented Pat.
Every €10 spent locally on Irish products generates more than €40 of benefit to the local community in terms of employment. The retail sector employs more people than any other sector in the Irish economy. Retailers and suppliers are currently under significant pressure and its now more important than ever to shop local. Local shops use local services such as accountants, insurance brokers and suppliers.
PRO Dundalk Chamber Paddy Malone is also asking local employers to get behind this voucher scheme and give the Shop Local Gift Vouchers as the Christmas Bonus this year. Employers can save 56% on staff rewards by giving employees a Shop Local Gift Voucher instead of cash. Paddy mentioned that “Businesses can reward their staff with a €1000 tax free payment. Under the Small Benefits Exemption Scheme, company Directors and Employees can receive a non-cash bonus of up to €1000 in value on a completely tax-free basis each year and he would encourage all employers to buy this voucher for the town”. It was €500 but has been increased to €1000.
By buying the “Shop Local Gift Vouchers” not only can you save money by taking advantage of the Government Small Benefit Exemption Scheme, but it is also a fully deductible business expense for your company. If you have not availed of the Small Benefit Exemption Scheme so far in 2024, Paddy would encourage you do so before 31st December 2024 and use Shop Local Gift Vouchers for this. It has to be taken in 2 amounts.
Paddy also stated that Directors of a limited company can avail of a €1000 tax free payment as they are considered an employee of the business. Unfortunately, this benefit does not apply to Sole traders / Partnerships however it would apply to their employees.
He also mentioned “that the added advantage of these vouchers is that they do not expire over time unlike other vouchers” If you want to buy vouchers you can purchase online at www.shoplocaldundalk.ie or directly from the Dundalk Chamber Offices by calling Tel: 042 9336343 or email info@shoplocaldundalk.ie