Frank Feighan (Roscommon-South Leitrim, Fine Gael)
Link to this: Individually | In context

Question 69: To ask the Minister for Finance if the bicycle scheme is still available; and if any more funding is being provided for same. [14594/11]

Michael Noonan (Limerick City, Fine Gael)
Link to this: Individually | In context

The cycle-to-work scheme continues to operate following its introduction in Finance (No. 2) Act 2008. At present there are no plans for its amendment.

Similar to the travel pass scheme, an employer and employee may 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. In such circumstances, the employee will not be liable to tax or PRSI or levies on the salary forgone. 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.