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Monthly taxsaver rail pass

  • 07-04-2010 12:01am
    #1
    kierank01
    Registered Users, Registered Users 2 Posts: 720 ✭✭✭


    I've been getting a monthly taxsaver rail pass through work, for a couple of months now, but I am starting to wonder if it is really worth it to me.

    I am on 21% tax, and on PRSI code AL.

    The rail ticket is €92, so the amount of money that would come out of my net pay would be €92-20%= €73.60. Is this correct or should I be factoring PRSI into this (how would I do this)?

    After all tax deductions last year, I paid €14 tax (this is on my final payslip, and p60).

    And this year, after I claimed for an income protection policy, I have paid no tax so far.

    If I am not very much tax, is there any benefit to me getting a taxsaver rail ticket?


Comments

  • #2
    Victor
    Registered Users, Registered Users 2 Posts: 78,574 ✭✭✭✭Victor


    There isn't as much benefit for you as there is for higher income tax payers.

    However, what would it cost you if you were paying all your own fares?

    Taxsaver annual tickets (if it can be arranged) are priced at ten times the monthly price. Even allowing for holidays, it should work out cheaper.

    There may be further incentives coming for Taxsaver ticket holders.


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