The allowable expenditure under the Cycle to Work scheme will increase from €1,000 to €1,250 for bicycles and equipment and can be used every 4-years. The allowance for ebikes has increased to €1,500.
The change announced by government will mean those commuting to work can save up to €637.50 on the purchase of a bicycle/equipment or €765 on an ebike, along with regular travel and fuel expenses associated with commuting by car or public transport.
We hope this incentive will encourage even more people to #JoinTheCycle.
More information will be available here: https://www.revenue.ie/en/jobs-and-pensions/taxation-of-employer-benefits/cycle-to-work-scheme.aspx