Dáil Éireann Debate, Tuesday - 9 June 2020
566. Deputy Catherine Murphy asked the Minister for Transport, Tourism and Sport the number of persons that availed of and the costs incurred by his Department regarding the cycle to work scheme since it was introduced to date by year and cost in tabular form; and if he will make a statement on the matter. [9991/20]
Amharc ar fhreagraThe Cycle To Work Scheme provides for purchase of a bicycle/associated safety accessories to be exempt from income tax, the benefit-in-kind arising from the provision of a bicycle/bicycle safety equipment by an employer to an employee or director, where the bicycle/associated safety equipment is used by the employee or director mainly for qualifying journeys (i.e. travelling to and from work or between work places).
The Scheme is administered by the National Shared Services Office (NSSO) in respect of employees in my Department. Employees can only make one claim every 5 years. The Department pays the upfront cost of the bicycle/associated safety accessories up to a maximum value of €1,000. Employees must source the bicycle/associated safety accessories from an approved supplier. The employee repays the value (up to €1,000) through a salary deduction over a maximum 12 month period. No costs arise to the Department from the Scheme as it is essentially a tax exemption scheme and the up-front cost is recouped through salary deductions.
The Department has requested a report from the NSSO on the number of employees who have availed of the Scheme and will provide the information to the Deputy when it is made available.
