Employee Savings

Example savings*
Higher rate taxpayer: 41% Tax + 7% PRSI + 4% Levies = 52%
Cost of bike and accessories	€250	€500	€750	€1000
Tax relief saving	52%	52%	52%	52%
Tax relief saving	€130	€260	€390	€520
Net Cost	€120	€240	€360	€480
Cost split over 12 months	€10	€20	€30	€40

Basic rate taxpayer: 20% Tax + 7% PRSI + 4% Levies = 31%
Cost of bike and accessories	€250	€500	€750	€1000
Tax relief saving	31%	31%	31%	31%
Tax relief saving	€78	€155	€233	€310
Net Cost	€173	€345	€518	€690
Cost split over 12 months	€14	€29	€43	€58

*Actual savings will depend on each individuals personal circumstances. Above is a typical example of savings possible as both a Basic Rate taxpayer (20%) and a Higher Rate taxpayer (41%). Public Sector employees will in addition save the pension levy