Donations of €250 or over are eligible for tax relief regardless whether you are a PAYE Tax Payer or Self-Assessed.
A new “blended” rate of 31% will be applied to all donations of €250 and more regardless of the donor’s actual tax rate, thus valuing all donations from the public equally. That means that your donation of €250 is actually worth €362 to Saint Joseph’s Shankill – at no extra cost to you!
For example, Joan makes a cash donation of €1,000 to Saint Joseph’s in the tax year 2016. Under the Tax Relief Scheme the Saint Joseph’s is deemed to have received a donation of €1,449.27 (i.e. €1,000 grossed up at 31%) less tax deducted of €449.27.
On the assumption that Joan has paid income tax for 2013 of at least €449.27, Saint Joseph’s can obtain a refund of that amount from Revenue after the end of the tax year 2016.
There is no change to Corporate Tax Relief – companies continue to treat donations as a normal business expense and there is no upper limit to the amount that can be donated.
To enable Saint Joseph’s Shankill to reclaim the tax, you must complete a CHY3 Certificate.
#dontforget
It will NOT cost you a single cent.
It will NOT affect your personal finances or tax status.
There are NO catches.
If you have any questions at all contact Siobhan Grant on 01 282 3000 or email her at siobhan.grant@sjog.ie
