Robert Troy
Ceist:159. Deputy Robert Troy asked the Minister for Finance if he will address a matter (details supplied) regarding the cycle to work scheme. [22512/18]
Amharc ar fhreagraTuesday, 22 May 2018
Ceisteanna (159)
Freagraí scríofa
The Cycle To Work Scheme is essentially an environmental measure. It was introduced on that basis to help lower carbon emissions, reduce traffic congestion, encourage more employees to cycle to work and to help improve health and fitness levels.
The current limit of €1000 covers a wide range of bicycles, including electric bicycles, and is therefore sufficient to cover many models suitable for those wishing to cycle to work.
Also, an employer may of course purchase an eligible bicycle and safety equipment which costs more than €1,000 but the excess would be treated as a benefit-in-kind for taxation purposes, full details are available on the Revenue website.
Finally, the expansion of any scheme does of course create a cost and that cost must be recovered elsewhere. For that reason, while the scheme is kept under review by officials, there are no plans at present to increase the limits.