WorkRide: The novel business model putting NZers' bums on bikes

New ride-to-work benefit scheme WorkRide has been gaining pace around New Zealand since its national launch in December.By making clever use of tax law, the scheme enables registered employers to help their employees reduce the price of a new bicycle, e-bike or scooter.In March 2023, the Labour government put in place a fringe benefit tax (FBT) exemption for “self-powered and low-power vehicles”. This meant employees would no longer pay income tax on rides supplied by their employers “for the main purpose of the employee...