There are incentives that not only represent great benefits for employees, but also for companies, and are known as labor bonuses.
This is because, in addition to the positive aspect of having happy, loyal and satisfied employees, some of them are tax deductible.
Below, we present what bonuses are, which are the most common in the business environment and how you can choose the right ones for your employees.
As an extra piece of information, before getting into the subject, we leave you with this piece of information:
"Companies with a culture of happiness have up to 66% less sick leave."
To begin with, we can classify them into two:
- Incentives, which are those that are associated with an economic retribution to the usual salary, that is, you get a little extra money.
- Non-financial incentives, which are those that help to improve the working conditions of employees, without receiving a monetary "extra".
Incentives
- Bonuses: Whether for punctuality, productivity or even permanence, these reward the fulfillment of a certain pre-established goal.
- Group bonuses: These may be by department and are given for exceeding the overall goal.
- Commissions: This is a percentage of the total value of a transaction, usually contemplated in the salesperson's salary.
- Food vouchers: One of the most valued by employees and companies, since in addition to representing the opportunity to offset the tax discount and being able to redeem them in various establishments, they also represent benefits for companies, allowing them to deduct 53% of Income Tax (ISR).
This is due to the fact that the Tax Reform has designated that expenses incurred by a company for the welfare and improvement of the quality of life of its employees can be deducted if such benefits do not decrease between fiscal years.
Non-financial incentives (bonuses)
These are actions aimed at improving the employee's working conditions.
These can be of a great variety, the most common being:
- Time flexibility
- Life insurance
- SGMM
- Transportation
- Recreational activities
- Dining room service
- Scholarships for further education
Now, the good news is that the bonuses for punctuality and attendance are 100% deductible for employers, since they cause income tax and are justified on the basis of a problem of non-attendance and unpunctuality.
Did you know this fact? That definitely plays in favor of both parties.
Therefore, ISR is levied on bonuses granted by companies to their employees, since it is considered a bonus.
What income is taxed?
As a worker you have income on which a tax is paid, such as:
- Of the Christmas bonus you receive up to 30 units of measurement and updating.
- Vacation bonus up to 15 units of measurement and updating.
- From the profit sharing given to you by the company up to 15 units of measurement and updating.
On the other hand, you have the possibility to deduct some personal data such as:
- Medical, dental, hospital, professional psychology and nutrition services.
- Funeral expenses.
- Actual and accrued interest on mortgage loans.
- Donations.
- Lenses.
- Tuition.
Finally, we recommend that you prepare your annual tax return even if you are not obligated to do so. This way you can subtract your personal deductions and, possibly, you will obtain a balance in your favor.
