Cycle to Work Scheme.
Why not get your own boss to purchase your bike for you and in turn save a packet.....But how could this be Bosco???.....Please read on to discover the new Cycle to Work Scheme as introduced in this years Financial Budget....I love Budget Time me!!!!
What is, the Cycle to Work Scheme?
In November the Irish Government should publish the full details about, the upcoming Cycle to Work scheme. Cycle to Work is a government tax incentive aimed at encouraging employees to use bikes for cycling to work. The scheme allows employees to buy bikes and safety equipment and this purchase will be treated as a tax exempt benefit-in-kind. How It works?
• Limit on the value of such purchases is €1,000 for each employee
• The exemption may only apply once in any five year period in respect of any employee.
• The bicycle can be funded by either the employer or through salary sacrifice of the employee but it must be purchased by the employer. Where funded by salary sacrifice there will be savings on tax, PRSI and levies.
• There will be no limits as to where the bike should be purchased.
• If employee is on the top rate tax and full €1,000 is spent, a saving of €415.90 is made – and possibly more if the employee is still below the PRSI cut-off point.
• Employers will not be permitted to purchase bikes for their employees where they do not believe that they will be used for cycling to and from work by the employees in question. Why Cycle to work
• Save your time
• No more traffic jams
• Get fitter-loose weight, an additional 30 minutes of cycling on most days of the week, combined with reducing calorie intake, could achieve weight loss comparable to doing three aerobic classes a week.
• Save on commuting costs
• Support a greener environment
• No Parking Fees
So what are you aping around for????
Get on your fooking bike!!!!!!!!!!!!!!