Workride is NZ’s ride-to-work benefit scheme designed to get more people riding to work and living healthier lives. Evo is a Workride performance partner that can help unlock an offset of 32-63% off your next ride.
ESTIMATE YOUR OFFSETWorkride operates on a "salary sacrifice" model, where employees can exchange part of their pre-tax salary for a chosen ride. Over 12-months employees will have reduced take-home pay while they effectively reimburse the cost to employers.
Workride operates on a "salary sacrifice" model, where employees opt to reduce their pre-tax salary to lease a bike or scooter. In addition to the tax savings, a small proportion of other contributions like student loans or KiwiSaver may also be redirected towards the ride, depending on its value. At the end of the lease term, employees have the option to take ownership of the ride.
For example, an employee with a $80,000 salary, 4% Kiwisaver, and Student loan, chooses a Trek Powerfly FS valued at $6380, but it’s on sale in-store at $5200.
Through Workride, they sacrifice $100 pre-tax and their weekly take-home pay impact is only reduced by $49, totalling an annual net contribution of only $2572 towards the ride. This arrangement benefits both the employee and employer, offering tax savings and financial flexibility.
Get your employer to sign up to workride.It's a great way for employers to engage with and support their team here. Learn more here.
Once an employer is on board, you can pick out a bike, e-bike, or scooter for your commute Learn more here.
Over a 12-month period, you can use the new ride while the salary sacrifice effectively reimburses your employer in full. With Workride employees reduce their tax bill through a combination of PAYE and ACC levy.
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