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Bike to Work – Savings Calculator

Savings Calculator

SAVING CALCULATOR

Employees Salary
Cost of Bike & Accessories

EMPLOYEE SAVINGS:

Tax Relief Saving %:
Your Savings:
Final cost of bike:

EMPLOYER SAVINGS:

Employer PRSI savings
Example Savings

Actual savings will depend on each individuals personal circumstances.
Here is a typical example of savings possible as both a Basic rate taxpayer (20%) and a Higher rate taxpayer (40%):

Basic Rate Taxpayer : 20% Tax + USC + PRSI = 28.5%

Cost of bike / ticket€1000€1,250€1,500€3,000
Tax Relief Saving %28.5%28.5%28.5%28.5%
Tax Relief Saving€285€356.25€427.50€855
Net Cost€715€893.75€1072.50€2145
Example Savings

Actual savings will depend on each individuals personal circumstances.
Here is a typical example of savings possible as both a Basic rate taxpayer (20%) and a Higher rate taxpayer (40%):

Higher Rate Taxpayer : 40% Tax + USC + PRSI = 52%

Cost of bike / ticket€1000€1,250€1,500€3,000
Tax Relief Saving %52%52%52%52%
Tax Relief Saving€520€650€780€1575
Net Cost€480€600€720€1425

For more information check our Bike To Work FAQ section