Get up to 50% off on your Hybrid E-Bike
With the cycle to work scheme
Learn How To Use The Bike Tax Benefit Scheme
Cycle commuting is an affordable and healthy way to get to work. Depending on where you live, it can also be quicker than other options. To start, you need a bike, and that’s where the government’s Cycle to Work scheme helps.
The Cycle to Work scheme, run through employers, helps you get new Hybrid E-Bike cost-effectively. The cost is taken directly from your salary, so you don’t pay tax, saving about 36% to 55%.
What Is The Cycle To Work Scheme?
It’s a salary-sacrifice employee benefit, meaning you agree to give up part of your pre-tax salary in exchange for cycling equipment from your employer. Essentially, your employer buys the bike, and you hire it. The loan period is 12 months & is interest free.
The savings come from the pre-tax part. Since the payment is made before tax deductions, you don’t pay tax on that portion of your salary, saving you money on income tax. Your savings depend on your tax bracket and the cost of the bike.
Once your employer approves your application they pay for the Hybrid E-Bike. You then receive a notice to collect the Hybrid E-Bike from the closest Hybrid Bike retail partner, located all throughout NZ.
You repay your employer through monthly installments, automatically deducted from your salary during the agreed hire period. The monthly amount depends on the loan’s total value.
Employees agree to a 12-month salary reduction for the temporary lease of the equipment and the chance to own it at the end of the lease period. The key condition is that the benefit must be mainly for commuting between home and work, allowing some private use without losing the exemption. For example, you can use a commuting bike for leisure on weekends or for shopping.
New Zealand’s Electric Bike Tax Exemptions
To promote environmentally friendly transportation, the New Zealand government has introduced tax exemptions for electric bikes and scooters. These exemptions make electric bikes more affordable, encouraging more people to switch from cars to these greener options.
Employer e-bike purchase support schemes also help by negotiating discounts with e-bike suppliers and providing wage advances or loans to staff, repaid through salary deductions. E-bikes offer a healthier, quicker, cheaper, and lower carbon transport option.
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What Our Happy Customers Have To Say About Hybrid Bikes
I have been so impressed
Hybrid Bikes first came to my attention in a positive manner via an article in the AA magazine. Then recently I rode the Otago Rail Trail and had the opportunity to try a friend’s Hybrid F18. I emailed Hybrid Bikes to say what a positive experience it was to ride the F18 and to say I was considering purchasing an e-bike as an alternative to my non-powered bikes. Frank immediately replied and sent one up to Cycleworx at Papamoa so I could have a test ride! Brad at Cycleworx was extremely helpful and spoke highly of the quality of design and components of the Hybrid brand. I proceeded to do more research by purchasing access to the Consumer report on e-bikes, which ‘recommended’ the F18 and talking to bike enthusiasts. I decided to go ahead and buy the F18 last weekend and happily rode it the 40 km home (I appreciated the power assistance, since I was into a headwind most of the way!). Throughout the whole process I have been so impressed by Frank’s communication, his choice of agents (in Brad), the ethics of the company and of course by the actual bike. I look forward to the option of commuting to work and enjoying lots of off-road riding.
Linda Williamson
Want To learn more on how to get up to 50% off using tax benefits?
Phone Number: 0275443213
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