27 Mar 2024

New scheme helps workers get cheap e-bikes

From Nine To Noon, 9:40 am on 27 March 2024

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Around 250 businesses around the country have signed up to a scheme helping their workers to get a new e-bike for half the price.

Through WorkRide, employers purchase bikes, e-bikes or scooters on behalf of staff members and lease them to their employees.

The employee pays the bike or scooter back over the following year through pay deductions.

The agreement employers sign up to means staff members don't pay fringe benefit tax (FBT) on the bikes, and because the deductions are made pre-tax, the bike rider's taxable income is reduced, meaning they pay less in income tax.

WorkRide co-founder Aidan Smith says nearly 500 employees have registered to recieve a WorkRide benefit so far.