Written answers
Tuesday, 23 October 2012
Department of Finance
Cycle to Work Scheme
Joe Higgins (Dublin West, Socialist Party)
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To ask the Minister for Finance if he will confirm that the bike to work scheme will be maintained in Budget 2013. [46227/12]
Michael Noonan (Limerick City, Fine Gael)
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The cycle-to-work scheme was introduced in Finance (No. 2) Act 2008 and continues to operate. 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.
Aodhán Ó Ríordáin (Dublin North Central, Labour)
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To ask 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]
Michael Noonan (Limerick City, Fine Gael)
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The 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.
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