Ride to Work Scheme offers huge effective savings

All Electrify Stores are now offering the Wheel Deal bike-to-work program.  

The Wheel Deal connects employers with local bike stores (including Electrify) around New Zealand to offer a way for staff to buy bikes at huge effective discounts.

It works like this - an employer signs up with the Wheel Deal, then employees can go into a bike retailer and choose a bike they would like (as long as the intended purpose is for commuting).

The employer and the employee then sign a "salary sacrifice" agreement, where the employee agrees to reduce their salary for the next 12 months by the value of the bike.

The employee collects their bike from the store and they're away riding.

The advantage of doing this way is that the bike is effectively paid for "pre tax" (the example in the photo shows the basic savings someone might get if they are in the 33% tax bracket).

Spread over 12 months it's a very affordable way for employees to get onto an ebike as a form of transportation.

The benefits for employers include improved staff health and wellbeing, retention and reduced carbon emissions.

The Wheel Deal has been developed by tax and legal experts, and its a win-win.   If you are an employer who is keen to know more, or a staff member who'd like your employer to sign up, please register at the Wheel Deal website here.