How your Swords Taxsaver Ticket saves you money:
- Example: Assume the annual cost of a Swords Express Taxsaver ticket is €1,399 and that an employee is earning €20,000 per annum. Instead of the employee buying the ticket for €1,399, they agree with their employer a salary sacrifice of €26.90 per week for the cost of the annual ticket - this equates to €1,399 for the year in which the employer pays for the ticket. The employee will not be charged tax, PRSI and USC on the portion of salary sacrificed. The employee will only have tax, PRSI and USC calculated on the employee's salary minus the salary sacrificed (€18,601).