New card lets employees save on public transport
Photo:
Supplied
Public transport fares got a hike last week - largely as a result of a government direction to regional councils to increase the private share of the service delivery costs.
One company though, has been working through a way to save commuters money - by using their pre-tax income.
Fintech business
Extraordinary
- which was formally known as HealthNow - has
used a Fringe Benefit Tax ruling from the IRD to set up a platform
that lets employers offer their workers the ability to pay for public transport through their pre-taxed pay.
Previously FBT rules meant employer-subsidised transport came with tax penalties.
Extraordinary
founder Steven Zinsli joins Kathryn to explain how it works - and how much employees could save.
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