One4all Bikes4work - How can I save?
Save between 31% and 52% off the cost of a new bike and safety equipment and choose from Ireland's widest selection of bikes and equipment. Below are examples of how savings are made for basic and higher Tax rate employees for bike and accessories packages under the government bike scheme. Costs are spread over a 12 month period. To find a more accurate calculation, please check out savings calculator below.
Bikes and accessory packages can be purchased to a maximum value of €1,000 through the employee tax credit scheme. Any excess value cannot avail of this tax exemption. Find out about the other benefits One4all Bikes4work offer
RETAIL PRICE FOR BICYCLE & EQUIPMENT |
€300.00 |
€500.00 |
€1,000.00 |
Gross Cost per Month* |
€25.00 |
€41.67 |
€83.33 |
HIGHER RATE TaxPAYER |
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PAYE Tax Savings at 41% |
€10.25 |
€17.08 |
€34.17 |
PRSI at 4% |
€1.00 |
€1.67 |
€3.33 |
Levies at 4% |
€1.00 |
€1.67 |
€3.33 |
Income Levy at 2% |
€0.50 |
€0.83 |
€1.67 |
Net Cost Per month |
€12.25 |
€20.42 |
€40.83 |
Total Cost over 12 Months |
€147.00 |
€245.00 |
€490.00 |
Total savings made over 12 months |
€153.00 |
€255.00 |
€510.00 |
BASIC RATE TaxPAYER |
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PAYE Tax Savings at 20% |
€5.00 |
€8.33 |
€16.67 |
PRSI at 4% |
€1.00 |
€1.67 |
€3.33 |
Levies at 4% |
€1.00 |
€1.67 |
€3.33 |
Income Levy at 2% |
€0.50 |
€0.83 |
€1.67 |
Net Cost Per month |
€17.50 |
€29.17 |
€58.33 |
Total Cost over 12 Months |
€210.00 |
€350.00 |
€700.00 |
Total savings made |
€90.00 |
€150.00 |
€300.00 |
*Price includes all costs incurred in running the scheme over a 12 month period. Costs incurred can be used as a guide only, and may vary subject to personal taxation. |
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