Dáil Éireann Debate, Tuesday - 23 October 2012
124. Deputy Aodhán Ó Ríordáin asked the Minister for Finance if the bike to work scheme will be continued beyond Budget 2013; if yes, if members of the public may, if starting the scheme from now, spread the payments over six or 12 month period; and if he will make a statement on the matter. [46315/12]
View answerThe cycle-to-work scheme was introduced in Finance (No. 2) Act 2008 and continues to operate. Accordingly, an employer and employee may still enter into a salary sacrifice arrangement whereby the employee agrees to forego part of his or her salary to cover the costs associated with the purchase of the bicycle/safety equipment. Where salary sacrifice arrangements are used, they must be completed over a maximum of 12 months from the date of provision of the bicycle/safety equipment. As the Deputy is aware, it is a long standing tradition that the Minister for Finance does not comment on taxation matters in advance of the annual Budget.
