Sutton to Sandyford, have I calculated the Tax Saver sums correctly?

ProudDUB

I have a new job and am commuting from Sutton to Sandyford. I am trying to calculate the cost of taking public transport (instead of driving) if I get the Monthy Tax Saver ticket.

If take the Dart from Sutton to Pearse and the Luas from Stephens Green to Sandyford, the daily fare is 7.09, with my regular Leap Card. I will drive one day out of the 5, so that makes the weekly fare approx 28 euros, or 112 monthly.

According to this, the monthly Luas and Short Hop rail ticket is 188 euros https://www.taxsaver.ie/Ticket-Types/Ticket-Validity/Monthly-Rail--Luas

If I am reading it correctly, the monthly saving (for my tax bracket) is 52.20, leaving the ticket costing approx 136 euros (188-52) per month, or 34 euros weekly.

Am I missing something....but where exactly is the saving to me there? Even if I used public transport five days a week and not four, it comes out at about the same as using a regular Leap Card.

I'm aware I can use the Tax Saver ticket all the time, not just when I commute to work. But as I won't be using it to get about on weekends, days off, etc etc, there is no real additional benefit to me there.

I know that with my regular Leap card, I am already getting savings of approx 16%. I just thought I'd see bigger ones, using the Tax Saver ticket, if I am taking the Dart/Luas 4 times a day. Am I missing something in my calculations there?

magicbastarder

ProudDUB wrote: »

If take the Dart from Sutton to Pearse and the Luas from Stephens Green to Sandyford, the daily fare is 7.09, with my regular Leap Card.

how is that calculated? is it calculated on a daily basis, or on the basis of two two stage trips?

schemingbohemia

Is your fare not €8.32?
2.46 DART then Leap 90 discount so Luas fare is 1.70, same in reverse.

loyatemu

schemingbohemia wrote: »

Is your fare not €8.32?

4.49 each way according to the journey planner, 2.46 Dart, 2.03 Luas, but I assume he'd get the Leap90 discount which reduces it to 3.49 each way or 6.98 per day.

Assuming you're not on the higher tax rate, the Annual Rail/Luas ticket (which costs the same as 10 monthly tickets) might save you a small amount:

6.98 * 4 days * 47 weeks = €1312
vs
€1278 for the annual ticket.

Probably not worth it unless you think you'd use the ticket at other times. It would definitely be worth it if you were on the higher tax rate though.

(It would be good if Leap tied directly into the Taxsaver system, so users could claim tax relief on their actual travel expenses.)

schemingbohemia

That's weird, I went to each website - Irish Rail and Luas and used the fares there and subtracted the Leap 90 discount.
Not much good if the journey planner is giving a different result. Of course, OP needs to bare in mind the fare increases in December.

Carawaystick

If you're not paying the top rate of tax, then the tax savings won't outweigh the hikes in season tickets, so pay as you go is probably better value.

ProudDUB

magicbastarder wrote: »

how is that calculated? is it calculated on a daily basis, or on the basis of two two stage trips?

I calculated it on the basis of what the balance is on the Leap Card at the beginning of the day, versus what it is at the end of the day. The difference between the two is 7.09. So I presume that is what my round trip fare is using my Leap card.

Thanks for all the responses. I am on the lower tax bracket.

I've driven the past couple of weeks. Between petrol and tolls, it works out at about 60 quid a week, so it looks like taking public transport is the cheaper option. I'm just surprised at the fare savings being as low as they are, as I had heard that the saving virtually made the ticket half price. I know that you may not get bang for your buck, if you are just getting one bus/Dart/Luas into town every day and one home again. But as I am taking the Dart/Luas 4 times a day, I thought I'd see a substantial saving, if I got the Tax Saver ticket, instead of doing pay as you.

lucernarian

Yes, this lower saving is because this ridiculous scheme saves higher earners more money, by reducing the income that would be taxed at 41%

ProudDUB

lucernarian wrote: »

Yes, this lower saving is because this ridiculous scheme saves higher earners more money, by reducing the income that would be taxed at 41%

Ah right....that makes more sense so. Thanks again for the feedback. It's all a bit mad isn't it?