The mobility loan has been created to encourage people to go to work in an environmentally friendly way. And how do we mainly do that? With the bike of course. At the moment the interest rates for a mobility loan are low. The ideal moment to think whether you will soon go to work by bike or not.
In September it is the week of mobility. Meanwhile, more than 50 European countries are taking part in this promotion. The general theme is always the same: think about new mobility facilities and this in an environmentally conscious way. And preferably so that the working person gets more exercise because many of us have a sitting job. These actions appear to work in part. The trend to go to work by bicycle is on the rise. Certainly in Brussels there is a large increase in the number of cyclists.
In Flanders there is much more cycling than in Wallonia. They also prefer to take a bicycle rather than a bus or tram (for short distances).
Studies have shown that people who exercise generally have a longer life expectancy. But also that these people become less sick. Interesting of course for companies whose number of sick people is reduced each year by encouraging people to exercise more. Not only do companies lend a hand, but the government also offers numerous benefits to make people opt for an environmentally conscious means of transport. We take a look at the benefits of purchasing a bicycle for commuting: Professional expenses, mobility loan, bicycle allowance.
Enter the mobility loan as a professional expense
When a company does not intervene in a bicycle allowance or in the purchase of a company bicycle, it still remains interesting to purchase a bicycle for commuting.
In the tax return you can opt to choose a lump sum as the professional costs. This is only interesting if the professional costs incurred are lower than the actual professional costs incurred. In general that is around EUR 4700. If your costs are higher, you can enter these as professional costs. In this case this can be: the purchase of an electric bicycle, the insurance costs and any bicycle assistance and the costs of the mobility loan. Make sure you keep all documents and invoices properly. You must present this with a tax return.
Mobility loan + bicycle allowance
When you receive a bicycle allowance from your employer, it is of course very interesting to take out a mobility loan. Because the bicycle allowance will ultimately pay back your mobility loan. This is partly dependent on how your employer pays you. With some companies you have to state per day when you come by bike, with other companies you have to pay part-time or full-time with the bike and some companies pay you a bicycle allowance per day. So the benefit will largely depend on that.
As a bicycle allowance, you receive approximately EUR 0.24 / km. One must also take into account the additional insurance policies, legal assistance and possibly a fully-fledged bicycle, especially if you have purchased an expensive brand-new bicycle. Make the calculation yourself and count how long it will take to earn back your bike.
Company bicycle + bicycle allowance
Perhaps the most fun option is that the company itself invests in company bicycles, covered parking facilities and showers, which encourages their employees to come to work by bicycle. First of all, this is very interesting for companies, as the government is currently stimulating companies enormously with tax advantages to invest more money in environmentally friendly means of transport. For example, the deduction rates currently amount to 120%. That is of course not of lasting duration. A company can also take out interesting loans for this.
=> Tax benefits as a self-employed person
=> Apply for a loan as a self-employed person
=> Self-employed persons can borrow money more easily
The use of a company bicycle is not considered as a wage and therefore no taxes have to be paid on it.
In addition to a company bicycle that employees can use to ride to work, these people (if the company offers this) can also make use of the bicycle allowance. As long as one does not receive more than the legally stipulated bicycle allowance of 0.24 EUR / km, one will not have to pay taxes on this. If one receives more, this is considered as wage.
Offering a bicycle allowance is very interesting for companies. Because the cost of a bicycle allowance is much lower than a wage surcharge that would yield the same net amount. A nice bonus that companies can offer to their employees. It is also interesting for the employee because they do not have the purchase costs of a high-quality home-work bike that can sometimes cost several thousands of euros and still can use the bicycle allowance. In addition, every km you cycled has less wear on your car and less fuel costs.
If you really come to work regularly by bicycle, then you can opt to have the car insurance of your car adjusted to the number of kilometers driven. This saves you on insurance costs for your car.
Insurance and assistance
I try not to devote too much to it, but if you really go to work regularly by bike and you do long distances. Then it can still be interesting to take out, among other things, a Civil liability for the damage that you would inflict on third parties.
In addition, you can opt to use the bicycle comprehensive for bicycles that cost several thousand euros. Often the accessories that are necessary for safe cycling are also covered. Here too there are various formulas. Also check whether the formula for theft is wide enough and which damage is actually paid. An interesting bicycle comprehensive is that of Touring. You are covered up to a maximum of EUR 10,000, including a assistance formula, theft formula and compensation in the event of vandalism due to various kinds. To get an idea of the costs, a bike that costs 5000 EUR to purchase, the bicycle total is around EUR 180 per year.
Legal assistance insurance (RB) provides extra coverage in the event of conflicts. Do not get basic legal aid because you are actually not satisfied with that but you do pay for it. To do this, go to your insurance office and ask behind the conditions. Sometimes it is possible that RB insurance is included with travel assistance.