Employers can spread some festive cheer with the new Mallow Gift Card

WITH Christmas looming large on the horizon Mallow Chamber has come up with a new initiative aimed at giving local commerce a welcome seasonal boost.

Developed by Chamber in conjunction with The Gift Voucher Shop, the company behind the One4all Gift Card, the Mallow Gift Card has been heralded as a way to motivate staff with a tax-free benefit while at the same time help stimulate the local economy.

Under the scheme employers can gift their employees a one-off tax free payment of up to €500 per year that will be exempt from income tax, USC and employee and employer PRSI.

The Chamber pointed out that if employee on a 40% tax rate were to receive €500 net salary, the cost to an employer would be a gross salary of €1041.67 in addition to employers PRSI at 10.75%. This would result in a total cost to the employer of €1153.65.

Alternatively, an employee on the top tax rate receiving a €500 payment under the scheme would potentially generate a saving of €653.25 for an employer.

Mallow Chamber president Sean Lynch said recipients can redeem the value of the card in up to 50 retail outlets in Mallow.

“It is innovative and practical and allows businesses in Mallow to not only reward and incentivise their employees, but to stimulate trade in the town. It is a great way to reward staff through a one-off benefit and it will help drive customer and staff loyalty,” said Mr Lynch.

Any businesses wishing to purchase the Mallow Chamber gift card can contact One4all directly on 01-8708181 or e-mail corpsales@one4all.ie.