Dáil Éireann Debate, Tuesday - 3 November 2020
426. Deputy Dara Calleary asked the Minister for Finance if he will expand the provisions of the stay and spend scheme to include the purchase of vouchers for accommodation or food purchase during 2021; and his plans to review the scheme in light of the level 5 restrictions. [33005/20]
Amharc ar fhreagraThe Stay and Spend scheme provides tax relief by means of a tax credit at the rate of 20% on qualifying expenditure of up to €625 per person, or €1,250 for a jointly assessed couple. The tax credit is worth a maximum of €125, or €250 for a jointly assessed couple. The purpose of the scheme is to provide targeted support to businesses within the hospitality sector whose operations are likely to be most affected by continued restrictions.
To be eligible for the relief, claimants must upload their receipts on the Revenue Receipts Tracker App for all qualifying expenditure. Qualifying expenditure refers to expenditure of more than €25 on holiday accommodation, and food and drink consumed on premises (excluding alcohol), provided by registered service providers. While the purchase of vouchers themselves are not qualifying expenditure for the purposes of the scheme, vouchers can be used as payment for qualifying expenditure and the relief granted at that point.
As I indicated when the scheme was launched, it was in the anticipation that the economy would be on the way to being fully open, and there would be mobility across our country. We know that this is not the case now. As I have also indicated previously, I will be monitoring the scheme to see how it works and to assess if there are any changes that we may need to make.
