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annual tax saver ticket - 2 months free

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  • 23-11-2020 4:03pm
    #1
    jdooley28
    Registered Users Posts: 523 ✭✭✭


    i am cureently looking at getting an annual tax saver ticker for a train fare. The montyoy cost is is 392 pm and the annual cost is 3920. From what I can make it out the way the ticket bills is a so called 2 months 'free'where 392 would be deducted gross from salary for 10 months of the year(i assume jan - oct) and nothing deducted nov and dec.

    Is there any behind why its just isn't simply 12 payments of 327 pm?

    thanks


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    #2
    goingnowhere
    Registered Users Posts: 4,133 ✭✭✭goingnowhere


    Annual tickets have long been 10 times the monthly fare

    It should be 3920/12 = 327 thats how most places run this on payroll.

    But thats between you and your HR, the refund if cancelled is based on 10 months so it makes your HR dept life easier to charge over 10 months, but I've never seen this done...


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    #3
    Xterminator
    Registered Users Posts: 4,717 ✭✭✭Xterminator


    Please note that Annual products are based on a 10 month rate, with two months free and this discount is withdrawn if the ticket is cancelled so the refund/credit is based on the regular monthly rate by the number of months used.

    https://www.taxsaver.ie/Commuters/Annual-Ticket-Conditions/Annual-Ticket-Conditions/

    So the annual ticket is discounted by 2 months. Hence the 10 month billing cycle.


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    #4
    magicbastarder
    Moderators, Category Moderators, Arts Moderators, Sports Moderators Posts: 48,321 CMod ✭✭✭✭magicbastarder


    is the ticket purchased outright by the employer at the start of the period (at the reduced rate), or do they pay for it on a monthly basis, for ten months?

    i always had assumed it was the former. that the ticket is the price of ten monthly tickets, not that it's billed as a monthly ticket price for ten months.


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    #5
    jdooley28
    Registered Users Posts: 523 ✭✭✭jdooley28


    thanks for the replies.

    is it possible to purchase a tax saver ticket on a monthly basis? i know there woud no point paying 12 times the monthly rate as it would be 120% of the annual price but im just thinking of if after 6 months someone decided it wasnt worth it and took a different mode of transport.


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    #6
    TheJet
    Registered Users Posts: 169 ✭✭TheJet


    jdooley28 wrote: »
    thanks for the replies.

    is it possible to purchase a tax saver ticket on a monthly basis? i know there woud no point paying 12 times the monthly rate as it would be 120% of the annual price but im just thinking of if after 6 months someone decided it wasnt worth it and took a different mode of transport.

    I used to get the tax saver ticket on a monthly basis. At the time, I worked for a small business so it was better for both of us. Also I used to take 2 weeks holidays in August so I didn’t need to get a ticket for that month, I just drove or got a drive from someone else.


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    #7
    jdooley28
    Registered Users Posts: 523 ✭✭✭jdooley28


    TheJet wrote: »
    I used to get the tax saver ticket on a monthly basis. At the time, I worked for a small business so it was better for both of us. Also I used to take 2 weeks holidays in August so I didn’t need to get a ticket for that month, I just drove or got a drive from someone else.

    Cheers that makes sense, i wasnt sure if a monthly was possible to buy as a tax saver as it just seems to say annual everywhere.


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    #8
    Xterminator
    Registered Users Posts: 4,717 ✭✭✭Xterminator


    Its more paperwork for your employer. that was my employers justification for annual only.


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    #9
    NewbridgeIR
    Registered Users Posts: 3,713 ✭✭✭NewbridgeIR


    jdooley28 wrote: »
    10 months of the year(i assume jan - oct) and nothing deducted nov and dec.

    Doesn't have to be a calendar year. Mine always ran from 1 May to 30 April.


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