The Mature Workers Scheme
Under the mature workers scheme, companies may now benefit from tax deductions when employing mature workers.
The scheme is open for employers, including self-employed individuals, who employ persons between the age of 45 and 65. For one to be eligible, the employed individuals need to have been registered for work on Parts 1 and 2 of the unemployment register for the preceding six months.
Employers could benefit from up to a maximum of €11,600 in tax deductions on the chargeable income for the first 2 years of employment of each eligible employee. This results in €5,800 savings per year. Furthermore, if the employee attends a training programme, employers could also benefit from a further tax deduction of 50% of the cost of training (up to a maximum of €400 per employee).
• Employed individuals must be 45+ years old;
• Have been on the unemployment register for the preceding 6 consecutive months prior to employment; and
• The gap between last registration date and engagement form not exceeding 15 days.
For more information, contact our team of experts at Firstbridge about how you can benefit from this scheme