192K Exemption in respect of Pandemic Special Recognition Payment

Summary

This section provides an exemption from income tax, USC and PRSI in respect of the “Pandemic Special Recognition Payment” made to specified categories of frontline healthcare workers. The exemption will apply to a maximum of €1,000 per qualifying recipient of the payment and will be made by or on behalf of the Minister for Health.

Details

This section inserts a new section 192K into the Taxes Consolidation Act 1997, with the following provisions:

Subsection (1) provides definitions for the new section:

“Minister” means the Minister for Health

“qualifying individual” means an individual in the specified categories of frontline healthcare workers who satisfies the conditions of the pandemic special recognition payment.

“qualifying payment” means a pandemic special recognition payment made by or on behalf of the Minister in furtherance of the Government decision of 19 January 2022 to make such a payment.

Subsection (2) provides the exemption from PAYE and USC of the pandemic special recognition payment.

Subsection (3) provides for the exemption from PRSI of the pandemic special recognition payment.

Subsection (4) provides that the exemption shall not exceed €1,000 per qualifying individual.

Relevant Date: Finance Act 2024