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Cycle to work scheme

  • 03-11-2010 10:53pm
    #1
    thehamo
    Registered Users, Registered Users 2 Posts: 2,049 ✭✭✭


    Hey could anyone tell me if I was to buy a bike worth 8/900 euro, how much would it work out at roughly under the bike to work scheme?


Comments

  • #2
    Waesfjord
    Registered Users, Registered Users 2 Posts: 586 ✭✭✭Waesfjord


    thehamo wrote: »
    Hey could anyone tell me if I was to buy a bike worth 8/900 euro, how much would it work out at roughly under the bike to work scheme?

    google cycle to work scheme or bike to work scheme and you will get all answers about discount (up to 48%) dependent on income..


  • #3
    macnab
    Registered Users, Registered Users 2 Posts: 1,505 ✭✭✭macnab


    If you are on the top tax bracket then a €1000 bike will cost you €510 if I remember correctly.


  • #4
    justo
    Registered Users, Registered Users 2 Posts: 242 ✭✭justo


    calculator here:

    http://www.cyclesuperstore.ie/shop/pc/bike2work.asp


  • #5
    Beasty
    Administrators, Social & Fun Moderators, Sports Moderators Posts: 78,393 Admin ✭✭✭✭✭Beasty


    You save the income levy as well (the online calculators often ignore this)


  • #6
    mike12
    Registered Users, Registered Users 2 Posts: 2,331 ✭✭✭mike12


    Hi,
    U can save anything from 0 up to 56% depending on how much you earn. Generally if u are on the lower rate of tax you would save 30%(20 tax, 8 prsi and 2 income levy) and the higher rate of tax 51%(41 tax 8prsi and 2 levy). You might save even more next year if they increase tax, don't think they will pull it in the budget as i'd say they are making money on the amount of bikes being sold thru vat and taxes on the extra profit the bike shops are making.
    Mike


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