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taxsaver worth it ?

crashadder · 2017-07-03 18:54:18

hi, sorry if this has been asked before. tried searching but couldnt find anything useful. whats the benefit of the taxsaver scheme ? the actual fee for luas all zones is a grand annually. as per my estimations i shouldnt spend more than 750 euro if i opt for leapcard . am i simply missing something here ? why would i pay…

03-07-2017 6:54pm

#1

crashadder

Closed Accounts Posts: 137 ✭✭

Join Date: December 2015

Posts: 120

hi,
sorry if this has been asked before. tried searching but couldnt find anything useful. whats the benefit of the taxsaver scheme ? the actual fee for luas all zones is a grand annually. as per my estimations i shouldnt spend more than 750 euro if i opt for leapcard . am i simply missing something here ? why would i pay 1000 euro ? my gross salary is 125k a year so i believe i am on the high tax rate. does this change anything ?

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Comments

#2 03-07-2017 7:10pm

nokia3310

Registered Users, Registered Users 2 Posts: 20 ✭

Join Date: March 2014

Posts: 16

The benefit of the taxsaver scheme is the total amount you pay into it is deducted from your salary before tax is calculated. Basically it means you don't pay tax on the €1,000 annual fee. So if your salary is 125k per year then you are taxed on the highest rate of tax, 52%, it means in real terms you are only paying €480 on the taxsaver scheme rather than the €750 you would pay otherwise.

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