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Cash Bonus or Gift Card? Why Tax-Free Beats Taxed Every Time

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Cash Bonus or Gift Card Why Tax-Free Beats Taxed Every Time
Cash Bonus or Gift Card Why Tax-Free Beats Taxed Every Time

When it comes to rewarding employees, cash bonuses often feel like the obvious choice. They’re simple, familiar, and everyone understands them. 

But here’s the reality: Once tax is taken out, that “bonus” ends up being much smaller for your employees, while your company ends up paying more in payroll costs. 

There’s a smarter option. Thanks to the Small Benefit Exemption (SBE), Irish employers can give employees gift cards worth up to €1,500 per year completely tax-free. It’s a win-win: employees get the full value, and employers cut out unnecessary costs. 

Let’s break down why this approach works better for everyone. 

The Numbers Tell the Story

Imagine you want to reward an employee with €1,500. 

  • Cash bonus: After income tax, USC, and PRSI, the employee might only see about €720 in their account. Plus, you’ll also have to pay employer PRSI on top of the gross amount. 
  • Swirl Gift Card: The employee receives the full €1,500, and there’s no extra cost for your company. 

So, the employee gets more than double the value, while your business actually spends less. 

Want to see the savings for your own team? Try our  Small Benefit Calculator 

More Flexible Than You Think

Some companies worry that gift cards might not feel as flexible as cash. In reality, modern gift cards give employees real spending power. 

With Swirl Gift Cards, your team can shop anywhere Mastercard is accepted, whether it’s the weekly groceries, online retailers, or even that holiday booking they’ve been waiting to make. 

So instead of feeling restricted to a single store voucher, employees enjoy real choice, and you deliver a benefit they genuinely value. 

Good for Employees. Smarter for Employers.

The Small Benefit Exemption isn’t a loophole. It’s a Revenue approved initiative designed to help companies reward employees in a way that’s cost-effective and impactful. 

It increases employee satisfaction, saves money on payroll costs, and makes your reward strategy more tax-efficient. 

Still, only about half of Irish employers are making use of it. That means the other half are paying more while giving less, missing an easy opportunity to maximise employee rewards. 

Why Swirl Makes It Simple

Switching to tax-free rewards with Swirl is straightforward. We take care of the admin so you can focus on the impact. 

  • Quick, easy ordering and fast dispatch 
  • Revenue compliant tracking and reporting 
  • Scalable solutions for teams of any size 
  • Transparent pricing with no hidden costs 

It’s the easiest way to engage your employees, stay compliant, and make your reward budget go further. 

Reward Smarter. Spend Smarter.

Cash bonuses might feel like the default, but tax-free gift cards give your team more and save your business money. 

Ready to make the switch? Contact Swirl today and start rewarding your employees the smarter, tax-free way. 

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