Staycation subsidy: Here's more details on the Stay and Spend scheme
"The hospitality industry is undoubtedly one of the worst affected by the public health measures..."
More details have been released about the upcoming Stay and Spend scheme, that will encourage tax payers to holiday and eat in Ireland over the autumn and spring months.
Tax payers who spend at least €625 in hotels, restaurants, and other hospitality businesses between October and April 2021 will be eligible for a €125 tax credit.
The scheme will commence during the off season to ensure that the hospitality sector can continue to make money.
“While many sectors have taken a hit, the hospitality industry is undoubtedly one of the worst affected by the public health measures which have had to be imposed to stop the spread of the virus," said Taoiseach Micheál Martin.
“The stay and spend scheme will encourage people to go out for a meal or take a staycation and support the Irish hospitality sector by enabling them to claim back 20 per cent of their spend.”
So, how does it work?
Tax payers can avail of the Stay and Spend scheme by spending at least €625 in registered hospitality businesses across Ireland between October 2020 and April 2021.
An individual can input their receipts into the Revenue Receipts Tracker app until they reach the €625 mark. They can then claim back a maximum of €125 tax credits.
Users will need to input their PPS number, and have an income tax or USC liability against which the tax credit can be set, to register for the app. There is a minimum spend of €25 per person per input.
The scheme officially begins next month, but businesses can start registering from today.
What businesses are included in the scheme?
All businesses registered with the relevant bodies (Revenue, Failte Ireland, the HSE Environmental Health Service) in the hospital sector will be included in the scheme.
This includes hotels, B&Bs, restaurants, and other businesses. Alcoholic drinks will not be included in the scheme but soft drinks will. Food must be consumed on a business's premises to be included in the scheme.
Businesses included in the scheme will be asked to display a sign declaring their registration.
When is the scheme valid from?
Businesses can start registering for the Stay and Spend scheme today, but tax payers will be able to start inputting from October 1 2020 to April 2021.
Users can claim by the app, by computer, or by post.