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Taxsaver question

  • 25-10-2016 4:18pm
    #1
    grahamor
    Registered Users, Registered Users 2 Posts: 872 ✭✭✭


    Hi,

    My wife has started a new job and her commute is as follows
    • Dart - 2 stops (Leap cost €1.73)
    • Luas - 4 stops in 1 zone (Leap cost €1.49)

    This totals to €3.22 but with the €1 Leap 90 discount it's €2.22, so €4.44 per day.

    This totals €89 per month.

    Her employer mentioned getting a monthly Tax Saver card but it would cost €176 for the Dart and Luas card.

    Her salary is €43k so i think only 10k would be at the higher tax rate.

    I'm trying to see if it's worth her getting the card ? If the majority of her salary is only the lower tax rate then is it worth it ?

    Thanks for any info and sorry if the tax part is inaccurate.


Comments

  • #2
    gerrybbadd
    Registered Users, Registered Users 2 Posts: 10,301 ✭✭✭✭gerrybbadd


    grahamor wrote: »
    Hi,

    My wife has started a new job and her commute is as follows
    • Dart - 2 stops (Leap cost €1.73)
    • Luas - 4 stops in 1 zone (Leap cost €1.49)

    This totals to €3.22 but with the €1 Leap 90 discount it's €2.22, so €4.44 per day.

    This totals €89 per month.

    Her employer mentioned getting a monthly Tax Saver card but it would cost €176 for the Dart and Luas card.

    Her salary is €43k so i think only 10k would be at the higher tax rate.

    I'm trying to see if it's worth her getting the card ? If the majority of her salary is only the lower tax rate then is it worth it ?

    Thanks for any info and sorry if the tax part is inaccurate.

    The cost of the ticket gets deducted from her salary BEFORE PAYE, PRSI or USC is applied, so the relief she will get will be at her top rate.


  • #3
    ForstalDave
    Registered Users, Registered Users 2 Posts: 612 ✭✭✭ForstalDave


    Deedsie wrote: »
    Could someone explain this to me. Annual tax saver bus ticket.

    A married couple jointly assessed one on 20% tax band the other on the 40% tax band. One on 20% is applying for a 3136.00 annual tax saver bus ticket. Do they apply at 40% or 20%. There is significant savings if you apply at 40% v 20%

    At 40% the ticket would cost €1599.36
    At 20% the ticket would cost €2226.56

    €627.20 savings over the year.

    Finding it really hard to find an answer anywhere.

    The ticket comes out of their wage before tax, so if none of the wage is taxed at 40% then it will be savings at the 20% rate


  • #4
    ForstalDave
    Registered Users, Registered Users 2 Posts: 612 ✭✭✭ForstalDave


    Deedsie wrote: »
    And for jointly assessed couples at the end of the year could they claim back the difference on the higher tax rate?

    Dont think so, you cant claim travel in that way as far as i know


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