Example savings*
Higher rate taxpayer: 40% Tax + 7% USC + 4% PRSI = 51%
Cost of bike/ticket €250 €500 €750 €1000
Tax relief saving 51% 51% 51% 51%
Tax relief saving €128 €255 €383 €510
Net Cost €123 €245 €368 €490
Standard rate taxpayer: 20% Tax + 7% USC + 4% PRSI = 31%
Cost of bike/ticket €250 €500 €750 €1000
Tax relief saving 31% 31% 31% 31%
Tax relief saving €78 €155 €233 €310
Net Cost €173 €345 €518 €690

* This example is based on a single person who has not additional tax credits. The savings you will make may vary depending on your tax credits, reliefs, and exemptions; or if you are a public servant. Please check your payslip to see the marginal tax rate at which you are paying PAYE, PRSI and USC. Please note that these figure are an approximation and you should confirm them with your employer.