Commuter Cycling: Will Australia Embrace Salary Sacrifice Ride To Work Schemes?

Earlier this year vitamin and supplement company Swisse Wellness launched Australia’s first Ride to Work Scheme, an opportunity that offers employees the attraction of a tax deductable salary sacrifice for the purchase of commuter cycling equipment. All employees of the ANZ owned company are now entitled to a $2,000/pa loan to purchase cycling equipment to ride to and from work. Over 12 months, employees repay this amount from their pre-tax salary, accessing savings of up to approximately 32% on their investment.

The scheme operates on similar principles as salary sacrificing a car and is similar to London's popular 'Cycle to Work' scheme launched in 1999.

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