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Yearly tickets

  • 07-09-2011 12:03pm
    #1
    Tim Robbins
    Registered Users, Registered Users 2 Posts: 9,023 ✭✭✭


    Hi,
    You know those yearly tickets that most commuters use.... Well in my current company, the company pay for it and then a certain amout is taken out of my gross wage per month. This means I save a lot of tax on it.

    What happens if your company do not do this for you?

    1. Can you still buy the ticket?
    2. Can you still claim tax back? how?

    Thanks.


Comments

  • #2
    LXFlyer
    Registered Users, Registered Users 2 Posts: 18,280 ✭✭✭✭LXFlyer


    Yes you can buy it, but you cannot claim the tax back.

    Daft I know.


  • #3
    Tim Robbins
    Registered Users, Registered Users 2 Posts: 9,023 ✭✭✭Tim Robbins


    lxflyer wrote: »
    Yes you can buy it, but you cannot claim the tax back.

    Daft I know.

    Really so you can only claim the tax back through your company.

    So if company A offers it and company B does not, that's like saying company A is paying you 500 euro or so more. At the higher rate. yeah?

    Anyone here of a company not offering it?


  • #4
    LXFlyer
    Registered Users, Registered Users 2 Posts: 18,280 ✭✭✭✭LXFlyer


    Them's the Revenue Commissioner's rules.

    They did not include a mandatory provision that companies offer the scheme in the legislation.

    Your tax can only be reduced by getting the ticket through your employer. If the employer doesn't want to do enter the Taxsaver scheme, then it's tough luck unfortunately.


  • #5
    schemingbohemia
    Registered Users, Registered Users 2 Posts: 5,606 ✭✭✭schemingbohemia


    lxflyer wrote: »
    Them's the Revenue Commissioner's rules.

    They did not include a mandatory provision that companies offer the scheme in the legislation.

    Your tax can only be reduced by getting the ticket through your employer. If the employer doesn't want to do enter the Taxsaver scheme, then it's tough luck unfortunately.

    The company would have to be daft not to do it as they save on PRSI/USC themselves so in fairness to Revenue there are incentives for employers.


  • #6
    lil5
    Registered Users, Registered Users 2 Posts: 430 ✭✭lil5


    There should still be a way for anyone else to buy a yearly ticket and get tax relief on it.


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  • #7
    markpb
    Registered Users, Registered Users 2 Posts: 9,389 ✭✭✭markpb


    schemingbohemia wrote: »
    The company would have to be daft not to do it as they save on PRSI/USC themselves so in fairness to Revenue there are incentives for employers.

    There are quite a few companies that don't offer it. Generally they don't want the added hassle of ordering and distributing the tickets and the extra payroll work.


  • #8
    schemingbohemia
    Registered Users, Registered Users 2 Posts: 5,606 ✭✭✭schemingbohemia


    markpb wrote: »
    There are quite a few companies that don't offer it. Generally they don't want the added hassle of ordering and distributing the tickets and the extra payroll work.

    There isn't actually a huge amount of hassle involved, and I think those companies that don't offer it are being total muppets, it's a win-win situation (in real money terms for both sides) with very little downside and shows I think a lack of respect for their employees.


  • #9
    Tim Robbins
    Registered Users, Registered Users 2 Posts: 9,023 ✭✭✭Tim Robbins


    Ok say company A offer it. The cost is about 1K from your Gross. Let's say company B don't offer it. You have to earn 2K at the higher rate to pay for it.

    That's means by Company B not offering it you are loosing 1K a year.

    Correct? Comments?


  • #10
    LXFlyer
    Registered Users, Registered Users 2 Posts: 18,280 ✭✭✭✭LXFlyer


    Correct - but as I said the Revenue did not make it mandatory that employers offer the scheme.

    Therefore it is down to individual employers whether they offer it or not.

    If they don't it's, as I said, the employees' tough luck, but there's not much anyone can do about it except lobby for a change in the legislation.


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