How taxsaver works?
Employees and directors can receive Annual and Monthly commuter tickets Tax and PRSI free as part of their salary package.
Salary sacrifice
Take the cost of your commuter ticket from your gross salary and only your new salary is taxable.
| Gross salary: |
€30,000 |
| Annual Bus/Rail ticket: |
€1,190 |
| Taxable salary: |
€28,810 |
Cash bonus
If you take the commuter ticket in place of a cash bonus you will save on the Tax and PRSI you would normally pay
| Cash bonus: |
€1,500 |
| Annual Bus/Rail ticket: |
€1,190 |
| Taxable bonus: |
€310 |
Example taxsaver savings:
|
Ticket Type |
Cost |
Tax rate |
PRSI Rate* |
Income Levy |
Savings |
| Annual Bus & Rail Short Hop |
€1190 |
41% |
8% |
2% |
€606.90 |
| Annual Bus & Rail Short Hop |
€1190 |
20% |
8% |
2% |
€357.00 |
| Monthly Bus & Rail Short Hop |
€119 |
41% |
8% |
2% |
€60.69 |
| Monthyl Bus & Rail Short Hop |
€119 |
20% |
8% |
2% |
€35.70 |
*PRSI rates will vary depending on your Contribution Class.