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question to accountants about study fee

  • 26-05-2010 11:24am
    #1
    vecher
    Closed Accounts Posts: 6 ✭


    my company pays for my evening courses from my bonus
    for me it is obviously interesting as it is before taxes
    I would like to know if it is actually beneficial for the company as well?
    i.e. is there any difference from taxing oint of view between paying employees bonus/salary and paying for his/her study?
    thanks in advance for your help


Comments

  • #2
    smcgiff
    Closed Accounts Posts: 5,943 ✭✭✭smcgiff


    Go on the tax forum to get definitive answer to this, but my understanding is that you should not be paying tax on this.

    The company is obviously treating this as BIK, but they should not. It may be a case of them not treating it as salary and just paying direct though - hence my advice that you ask someone on the tax forum.


  • #3
    vecher
    Closed Accounts Posts: 6 ✭vecher


    smcgiff wrote: »
    Go on the tax forum to get definitive answer to this, but my understanding is that you should not be paying tax on this.

    The company is obviously treating this as BIK, but they should not. It may be a case of them not treating it as salary and just paying direct though - hence my advice that you ask someone on the tax forum.

    thanks for your reply
    I asked there as you advised


  • #4
    Cookie_Monster
    Registered Users, Registered Users 2 Posts: 24,565 ✭✭✭✭Cookie_Monster


    It should be an expense for the company so they can get the tax benefit but should not affect you at all. Other than you don't have to pay anything yourself of course. It should not impact your pay or tax at all.


  • #5
    DoMyBooks
    Registered Users, Registered Users 2 Posts: 355 ✭✭DoMyBooks


    There is a benefit to the company as the payment for your course is taken out before the 10.75% Employers PRSI rate.


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