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Skerries to Dublin Pearse

  • 22-04-2014 8:25pm
    #1
    Dr.Winston O'Boogie
    Registered Users Posts: 1,820 ✭✭✭


    Hello all, trying to figure out the cost of the tax saver annual ticket from Skerries to Pearse on the train...going on the tax saver website I think it's roughly under 700 (1430 before tax discount)....is that correct or am I missing something?


Comments

  • #2
    Pipmae
    Registered Users, Registered Users 2 Posts: 2,038 ✭✭✭Pipmae


    The actual tax saving depends on whether you are paying 20% or 41% tax. Your taxable income reduces by the cost of your ticket.

    So say your monthly taxable income is €2,000 and your annual ticket costs €120 per month, then your taxable income reduces to €1,880 ie you don't pay tax on the €120.

    Does that make sense?


  • #3
    Riskymove
    Registered Users, Registered Users 2 Posts: 10,899 ✭✭✭✭Riskymove


    you still pay €1430 for the ticket but then make a saving on your tax each pay check over the year

    is your employer buying the ticket for you?

    Mine does and it is paid for via a "salary sacrifice" from my wages each pay check


  • #4
    LXFlyer
    Registered Users, Registered Users 2 Posts: 17,917 ✭✭✭✭LXFlyer


    You also save on the USC and PRSI on the cost of the ticket in addition to the PAYE.


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