Budget:Tax incentive for cycling to work!

Kinetic^

Eoin D wrote: »

At the moment I'm leaning heavily towards not getting a car and saving to leave this country for good!

Awesome, jobs for the rest of us!

studiorat

aidan.offbeat wrote: »

Well - I DO use my bike as transport while I'm working. I just never considered putting it through as a business expense. Next time I will seeing as I'm entitled to.

Stick an auld advertising logo on it and yer laughin'.

Lumen

Eoin D wrote: »

This budget is a load of balls.

I just graduated, started working for the government as there were very few jobs in the area I graduated in.

So, the taxpayer financed your pointless degree, and is now picking up the bill to keep you off the street?

And you're still complaining.

Or maybe I misunderstood.

Eoin D

Lumen wrote: »

So, the taxpayer financed your pointless degree, and is now picking up the bill to keep you off the street?

And you're still complaining.

Or maybe I misunderstood.

There's no such thing as 'free education', I paid my dues! And when I try to pay the people back by working for the government, for the people, I can't. :rolleyes:

Ha, sure I would have paid it back in a lifetime of ridiculous taxes if given the opportunity anyway, now I'll have to give some other government my money!

Lumen

Eoin D wrote: »

Ha, sure I would have paid it back in a lifetime of ridiculous taxes if given the opportunity anyway, now I'll have to give some other government my money!

It all evens out. I was "educated" in the UK, now work here.

Maybe you'll be back in a few years when you want to take advantage of the low corp. tax rate.

Me, I'm here for the women (sorry, woman).

fletch

I wonder how they are going to govern this.

Like I just bought a hybrid for commuting but wouldn't mind a racer or perhaps a mountain bike....do you have to prove that you are cycling the bike you bought via the scheme to work???

Gavin

Eoin D wrote: »

There's no such thing as 'free education', I paid my dues! And when I try to pay the people back by working for the government, for the people, I can't. :rolleyes:

Ha, sure I would have paid it back in a lifetime of ridiculous taxes if given the opportunity anyway, now I'll have to give some other government my money!

You're giving out about the government because you chose a qualification with poor employment prospects ?

Eoin D

Verb wrote: »

You're giving out about the government because you chose a qualification with poor employment prospects ?

Well, the post you quoted was actually in jest. Hence the smiley and the 'ha'.

I'm not so much giving out as bringing to light the irony in my situation! But as I said, I'll just go elsewhere to a country that I'll easily find a job

rflynnr

Verb wrote: »

You're giving out about the government because you chose a qualification with poor employment prospects ?

Obviously choosing a degree for any reason other than its direct impact on one's employability is inconceivable.

Eoin D

rflynnr wrote: »

Obviously choosing a degree for any reason other than its direct impact on one's employability is inconceivable.

Gone are the days of education for the sake of knowledge it would seem, in are the days of training to enter the work force

Lumen

rflynnr wrote: »

Obviously choosing a degree for any reason other than its direct impact on one's employability is inconceivable.

Not at all. But taking a McDegree then complaining about the fact that you can't get a real job is a bit dim.

Gavin

Lumen wrote: »

Not at all. But taking a McDegree then complaining about the fact that you can't get a real job is a bit dim.

exactly. My qualification prospects do not equate to the amount of time I've spent in education, but I knew that when I started.

Anyway, this is all seriously off topic!

More cyclists, more bikes on the road, more people pushing for better facilities etc. It's all good.

studiorat

I must have missed the post where he stated what his degree was...

youcancallmeal

Sorry I had quick look back through the thread and couldn't see it but what exactly is the incentive???

Eoin D

Lumen wrote: »

Not at all. But taking a McDegree then complaining about the fact that you can't get a real job is a bit dim.

Anyway, it's off topic but I think you missed my point

blorg

fletch wrote: »

I wonder how they are going to govern this.

Like I just bought a hybrid for commuting but wouldn't mind a racer or perhaps a mountain bike....do you have to prove that you are cycling the bike you bought via the scheme to work???

If it is anything like the UK scheme they won't track usage at all, you may just need to declare that you are cycling to work. The Focus Cayo and Planet X carbon road bikes were very popular on the UK scheme, coming in at just under the £1k limit.

studiorat

Lumen wrote: »

Not at all. But taking a McDegree then complaining about the fact that you can't get a real job is a bit dim.

referring to this I was...

Anyway, onward!

Hungrycol

I stand corrected. The €200 parking levy is indeed an employee cost. The employee is levied not the space so this could potentially mean job sharers, who share a employer provided space, could also be hit for the €200 each! But what happens to Visitors and Staff (first come first served) spaces? These details should be available leter today when they iron out the C02 emmissions tax which for example looks to be be a bit wonky already, the mini cooper driver who travels 40 miles to work is paying less C02 tax than the 4x4 driver who travels 3 miles to work... go figure.

kmick

Danno wrote: »

It is not feasible for me to cycle 15.5miles to work... no use to me.

Why not - Probably take an hour or so - bet it takes you as long if not longer to drive.

I currently have 3 bikes in the shed but one may get "stolen" soon to make way for my shiny new 1000 euro bike. Is there a bike a bike called the 'golden chariot' that I can purchase?

Few issues I forsee
1) Bike shops all of a sudden have a number of bikes which previously sold for 699 now retailing for 999 plus free helmet,lock and lights.
2) Thefts of bikes skyrocket as punters cycle to town and tie their new 999 euro bike to the nearest stop sign with the flimsy 'free' lock bought in 1 above
3) Even more people now pass me out at lights and stop in 30th gear on their new 999 euro bike ensuring when the lights go green they are blocking my way as it takes them 90 seconds to move off.
4) The second hand market is swamped with 'unwanted present' bikes bought for 999 but now selling for 699 (comes with all the extras)
5) Fixies and 999'ers fighting on street corners and at lights?

douglastubbs

[QUOTE=kmick;57584028]Why not - Probably take an hour or so - bet it takes you as long if not longer to drive.

I currently have 3 bikes in the shed but one may get "stolen" soon to make way for my shiny new 1000 euro bike. Is there a bike a bike called the 'golden chariot' that I can purchase?

Few issues I forsee
1) Bike shops all of a sudden have a number of bikes which previously sold for 699 now retailing for 999 plus free helmet,lock and lights.
2) Thefts of bikes skyrocket as punters cycle to town and tie their new 999 euro bike to the nearest stop sign with the flimsy 'free' lock bought in 1 above
3) Even more people now pass me out at lights and stop in 30th gear on their new 999 euro bike ensuring when the lights go green they are blocking my way as it takes them 90 seconds to move off.
4) The second hand market is swamped with 'unwanted present' bikes bought for 999 but now selling for 699 (comes with all the extras)
5) Fixies and 999'ers fighting on street corners and at lights?[/QUOTE]

I didn't read anyway that you have to buy the bike in Ireland. Could use wiggle, Evans, Chain Reactions etc but unfortunately would agree about prices.

DirkVoodoo

That's a fairly dim view alright kmick, it also assumes a few things:

1) Bike shops are inherently evil and only there to exploit the common man through shameless profiteering (say it ain't so pop!).
2)People are idiots and unable to research bike prices in other shops or from online retailers.
3) People are again idiots and unable to properly pilot a bike with any measure of competence.
4) More employees cycling won't see employers convert some of that unused parking lot into a decent storage facility. Cyclists will (foolishly) entrust their bike to the bike inspector, only to finish a hard day's work and realise there is no such thing as a bike inspector.
5)People who cycle fixies have a false sense of superiority among fellow cyclists. They look down their noses at the "average joe" commuter on his hybrid with his suit pants tucked into his socks. Saddle too low, helmet tipped back in a ready salutory pose, handlebars twitching as he swings from side to side across the cycle lane.

Ok, so maybe that last one is true...but I think it's great. More people cycling means less people driving.

It reminds me of an old episode of Jeremy Clarkson's motorworld. I believe he was in Vietnam. Ah, found the video (its at the end): Here

For those who don't want to watch the video, the point is as follows: A flawless urban traffic system, where everybody is on 2 wheels!

fletch

blorg wrote: »

If it is anything like the UK scheme they won't track usage at all, you may just need to declare that you are cycling to work. The Focus Cayo and Planet X carbon road bikes were very popular on the UK scheme, coming in at just under the £1k limit.

Looks like I'll be getting a nice new racing bike so YAY

johnser

So what does this budget for Cyclists mean in laymans Terms.

All this financial stuff does not mean anything to me. This is my understanding, please correct me if I'm wrong.

If you agree to cycle to work, your company will give you a a tax free load of 1000 to buy a bike and gear with. this loan has to be paid back over a year and is not subject to benefit in kind.

Does that sound right?

Lumen

johnser wrote: »

If you agree to cycle to work, your company will give you a a tax free load of 1000 to buy a bike and gear with. this loan has to be paid back over a year and is not subject to benefit in kind.

Does that sound right?

Basically yes, except that (a) it doesn't have to be a loan, the company can gift/bonus it to you without affecting your tax (b) you are unlikely to be given €1k cash/in your paycheck, more like reimbursed for the expense or the company buys the bike for you (c) the bike can be more than €1k, but any overspend will be considered a taxable benefit-in-kind, i.e. like normal salary.

Probably.

ROK ON

I was going to purchase a new bike in November, and already have the deposit paid.
How should I now go about the purchase in order to avail of the new tax incentive?
Should I wait until Jan1, or go ahead and get my company to buy it and reimburse me the 1000 from gross salary?

Lumen

ROK ON wrote: »

I was going to purchase a new bike in November, and already have the deposit paid.
How should I now go about the purchase in order to avail of the new tax incentive?
Should I wait until Jan1, or go ahead and get my company to buy it and reimburse me the 1000 from gross salary?

Ask your company, but don't expect an answer until the details have been fleshed out.

I would postpone completion of the sale until January, and get reimbursed through expenses. Or else persuade the bike shop to post-date your receipt (they might want the cash in early to boost Christmas sales).

Hungrycol

Lumen wrote: »

Ask your company, but don't expect an answer until the details have been fleshed out.

I would postpone completion of the sale until January, and get reimbursed through expenses. Or else persuade the bike shop to post-date your receipt (they might want the cash in early to boost Christmas sales).

Ed Zachery.

leeroybrown

ROK ON wrote: »

I was going to purchase a new bike in November, and already have the deposit paid.
How should I now go about the purchase in order to avail of the new tax incentive?
Should I wait until Jan1, or go ahead and get my company to buy it and reimburse me the 1000 from gross salary?

If you want to avail of whatever scheme finally emerges from this the first thing you'll need to do is wait for concrete details of how it will work. If you just go ahead and buy you will probably end up having done something that disqualifies you. Even if you get a post-dated receipt you may end up having bough outside the scheme when the final rules are in place.

ednwireland

rumour has it this will only apply to the areas that have the €200 parking charge in them - thats me out - off to uk to buy a new bike at xmas then

rubadub

douglastubbs wrote: »

I didn't read anyway that you have to buy the bike in Ireland. .

ROK ON wrote: »

I was going to purchase a new bike in November, and already have the deposit paid.

I would presume it will only be Irish shops, and only approved shops. In another thread I gave the reason why. Because I could open a shop, "rubadubs plasmas & bikes". Buy my crap MTB for €1k and I throw in a plasma for the bike free.

Morgan

ednwireland wrote: »

rumour has it this will only apply to the areas that have the €200 parking charge in them

Unlikely - the two things aren't linked.

copacetic

ednwireland wrote: »

rumour has it this will only apply to the areas that have the €200 parking charge in them - thats me out - off to uk to buy a new bike at xmas then

yep, I'm out too if your heard a rumour. quick, quick

Deedsie

Hi, I am considering getting a road bike on this scheme. Has anyone else gone through the procedure? I am kinda nervous asking my boss about it. I am a contract employee, would this have any effect?

How does it work, I go find a bike i want? Do i pay for it and let my boss cover the remainder?

Actually to save me starting another thread, Would any one recommend a road bike for a beginner? I will be cycling 18 Km to and from work. Its a dual carriageway between Shannon and Limerick?

Lumen

Deedsie wrote: »

Hi, I am considering getting a road bike on this scheme. Has anyone else gone through the procedure? I am kinda nervous asking my boss about it. I am a contract employee, would this have any effect?

How does it work, I go find a bike i want? Do i pay for it and let my boss cover the remainder?

Actually to save me starting another thread, Would any one recommend a road bike for a beginner? I will be cycling 18 Km to and from work. Its a dual carriageway between Shannon and Limerick?

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