Mallow card is the gift that keeps on giving
With Christmas looming large on the horizon Mallow Chamber has revived an initiative aimed at giving local commerce a welcome seasonal boost.
Developed by the 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.
“Gift cards are available from €15 to €500 from Katie’s Newsagent and can be used to purchase items in up to 60 retail outlets in Mallow, all of which are listed on the Mallow Chamber website,” said Chamber president Pat Hayes.
“Another benefit of the Gift Card is the taxfree benefit it provides to employers who use the it to reward and motivate their staff,” he added.
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 employees 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. Therefore, potentially generating a saving of up to €653.65 to employers for each employee (at the top tax rate) that receives a €500 Gift Card.
Mr Hayes said research showed that increased motivation can boost employee productivity by as much as 44%.
“Through the card employees will have access to a huge of options, from treating themselves to a new outfit just in time for Christmas, a night away out at one of Mallow’s many top-quality restaurants or the latest gadgets and technology,” he said.
“It’s innovative and practical and allows businesses in Mallow to not only reward and incentivise their employees, but also to stimulate trade in the town. It’s a great way to reward staff through a one-off benefit and will help drive customer and staff loyalty.”
Any businesses wishing to purchase the Mallow Chamber gift card can contact One4all directly on 01-8708181 or e-mail corpsales@ one4all.ie. For more information about the initiative visit www.mallowchamber.ie.