Gerry Reynolds
Ceist:152 Mr. G. Reynolds asked the Minister for Finance the tax benefits and incentives, if any, available for persons unemployed for over 12 months to return to full-time employment. [8168/98]
Vol. 489 No. 3
152 Mr. G. Reynolds asked the Minister for Finance the tax benefits and incentives, if any, available for persons unemployed for over 12 months to return to full-time employment. [8168/98]
Section 16 of this year's Finance Act introduced an employment incentive scheme to encourage the long-term unemployed to take up employment and gives an incentive to employers to employ such individuals. This is a two part initiative which is now titled job assist. It will come into effect on 6 April 1998 and will apply to long-term unemployed individuals who take up a qualifying employment.
The first part of the initiative provides a special tax deduction for the employee. This will be an additional tapering personal tax free allowance and an allowance for each qualifying child for a three year period as follows.
Personal Allowance£ |
Child Allowance£ |
|
Year 1 |
3,000 |
1,000 |
Year 2 |
2,000 |
666 |
Year 3 |
1,000 |
334 |