tax saver commuter ticket

Hey. I want to get the tax saver commuter ticket. In my first job I am on 32K per annum, so Im 2.5K below the %40 tax bracket. But I work a part time weekend job that would have me borderline %40 tax bracket. Can I use this to my advantage when ordering tax saver ticket. I would really like to save %40 on the ticket rather than %20.

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your employer will need to arrange the taxsaver tickets as it is usually deducted by them from your monthly salary, saving both you & the employer € - [broken link removed].

and is the saving on the ticket, 20 or 40, decided on what that employer payes you?

oxygen said:

and is the saving on the ticket, 20 or 40, decided on what that employer payes you?

Click to expand...

The "saving" in the form of tax/PRSI relief will be 20%/41% tax and 6% PRSI on whatever is paid for the ticket via salary sacrifice or cash bonus.

To answer what I see as the actual question...

Suppose the ticket costs €1000. This must be paid for with a salary sacrifice, therefore it reduces your taxable income by €1000, so another €1000 of your income will come within your existing tax credits. If at least €1000 of your salary is currently taxed at 41%, you will benefit from full relief on the ticket. You may need to ring Revenue to assign more of your excess tax credits / tax free allowance to your second employment (or alternatively get a tax refund at year end). If you earn more than €50,700 a year (doesn't apply to you, but could for others), you may not get the full PRSI benefit.