Charitable giving offers many benefits to donors and to the wider community. The Irish tax system contains a range of incentives aimed at facilitating and encouraging charitable giving by individuals and companies, which help to ensure that charities receive the maximum benefit from public and private donations.
This briefing outlines the tax relief available for donations (made after January 2013) by both individuals and companies
WHAT DONATIONS QUALIFY FOR TAX RELIEF?
The minimum donation in any single year of assessment or accounting period that must be made to any one approved body must be of a value of at least €250 (in the form of money or designated securities, or a combination of money and designated securities).
Cash donations made in instalments (e.g. Standing Order) also qualify.
The maximum qualifying donation amount for individuals in a year of assessment is €1m.
Where there is an association between the donor (being an individual) and the approved body at the time the donation is made, e.g. where the donor is an employee or member of the approved body, the relief will be restricted to 10% of the total income of the individual for the relevant year of assessment.
The recipient is either an “eligible charity” or another approved body.
A donation must also satisfy the following conditions:
1. it must be in the form of money or designated securities or a combination of money and designated securities,
2. it must not be repayable,
3. it must not confer any benefit on the donor or any person connected with the donor,
4. it must not be conditional on, or associated with, any arrangement involving the acquisition of property by the approved body.
Download our Full Briefing Document here
This briefing outlines the tax relief available for donations (made after January 2013) by both individuals and companies
WHAT DONATIONS QUALIFY FOR TAX RELIEF?
The minimum donation in any single year of assessment or accounting period that must be made to any one approved body must be of a value of at least €250 (in the form of money or designated securities, or a combination of money and designated securities).
Cash donations made in instalments (e.g. Standing Order) also qualify.
The maximum qualifying donation amount for individuals in a year of assessment is €1m.
Where there is an association between the donor (being an individual) and the approved body at the time the donation is made, e.g. where the donor is an employee or member of the approved body, the relief will be restricted to 10% of the total income of the individual for the relevant year of assessment.
The recipient is either an “eligible charity” or another approved body.
A donation must also satisfy the following conditions:
1. it must be in the form of money or designated securities or a combination of money and designated securities,
2. it must not be repayable,
3. it must not confer any benefit on the donor or any person connected with the donor,
4. it must not be conditional on, or associated with, any arrangement involving the acquisition of property by the approved body.
Download our Full Briefing Document here
