There are a number of tax benefits associated with annual donations of €250 + to registered charities including The Down Syndrome Centre. The recipient of the benefit depends on the type of taxpayer making the donation:
PAYE Taxpayers: In the case of PAYE taxpayers, donations of €250 + received by The Down Syndrome Centre, or any other registered charity, in one tax year are treated as having been received “net” of tax. For example: An individual on the standard rate of tax (i.e. 20%) makes a donation of €500. The value of the donation to the Down Syndrome Centre = €625 i.e. €500 x 100/80. The tax associated with the donation = €125. The Down Syndrome Centre will be able to claim a repayment of €125 from the Revenue Commissioners.
Self-Assessed Individual: Self-assessed taxpayers can reclaim the income tax they pay on donations of €250+ in any one tax year. For example: A self-assessed individual on the standard rate of tax (i.e. 20%) makes a donation of €500. The cost to the taxpayer is €400. The taxpayer claims a deduction for the donation on his/her tax return. No repayment claim by The Down Syndrome Centre arises.
Corporate Donations: The company claims a deduction for donations of €250 + in any one tax year as if it were a trading expense. The Down Syndrome Centre's registered Charity number is CHY 15750. This information is taken from the Revenue Commissioner’s paper “Scheme of Tax Relief for Donations to Eligible Charities and other Approved Bodies, Under Section 848A, Taxes Consolidation Act 1997.
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