How Taxsaver works?
Employees and directors can receive Annual, Monthly and Part Yearly(Bus Éreann only) 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.
Dublin Bus/Irish Rail |
Bus Éireann |
|
| Gross salary: |
€30,000 |
Gross salary: |
€30,000 |
| Annual Dublin Bus/Irish Rail ticket: |
€1,320 |
Annual Bus Éireann Galway City ticket: |
€638 |
| Taxable salary: |
€28,680 |
Taxable salary: |
€29,362 |
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
Dublin Bus/Irish Rail |
Bus Éireann |
|
| Cash bonus: |
€1,500 |
Cash bonus: |
€1,500 |
| Annual Dublin Bus/Irish Rail ticket: |
€1,320 |
Annual Bus Éireann Galway City ticket: |
€638 |
| Taxable bonus: |
€180 |
Taxable bonus: |
€862 |
Example Dublin Bus & Irish Rail taxsaver savings:
|
Ticket Type |
Cost |
Tax rate |
PRSI Rate* |
Universal Social Charge |
Savings |
| Annual Dublin Bus & Irish Rail Short Hop |
€1320 |
41% |
4% |
7% |
€686.40 |
| Annual Dublin Bus & Irish Rail Short Hop |
€1320 |
20% |
4% |
7% |
€409.20 |
| Monthly Dublin Bus & Irish Rail Short Hop |
€132 |
41% |
4% |
7% |
€68.64 |
| Monthly Dublin Bus & Irish Rail Short Hop |
€132 |
20% |
4% |
7% |
€40.92 |
*PRSI rates will vary depending on your Contribution Class.
Example Bus Éireann taxsaver savings:
|
Ticket Type |
Cost |
Tax rate |
PRSI Rate* |
|
Savings |
| Annual Bus Éireann Galway City Ticket |
€638 |
41% |
4% |
7% |
€331.76 |
| Annual Bus Éireann Galway City Ticket |
€638 |
20% |
4% |
7% |
€197.78 |
| Monthly Bus Éireann Galway City Ticket |
€58 |
41% |
4% |
7% |
€30.16 |
| Monthly Bus Éireann Galway City Ticket |
€58 |
20% |
4% |
7% |
€17.98 |