Tax Relief on Donations
Make your donation go even further! One Family could be in a position of claiming thousands of euro every year through the tax effective giving process. It’s really simple, fast and can make a real difference.
How does it work?
One Family is an eligible charity under the 2001 Finance Act. This allows people and companies to claim a deduction for a donation as if it were a trading expense. The donation must take the form of a payment of one or more sums of money and the relief will be granted at your marginal rate of tax.
Donations over €250
Any taxpayer who donates €250 or more in a year (€20.84 in a month) to One Family will either:
· Allow the Charity to reclaim the tax (PAYE donors)
· Allow the Self-Assessed and Corporate Donors to claim tax relief
Donations of €250 or more in a year may be eligible for tax relief.
If you are paying PAYE at:
· The higher rate of 41%, €250 is actually worth €423 to One Family
· The standard rate of 20%, €250 is actually worth €313 to One Family
Tax Payer Information
PAYE:
If you are a PAYE taxpayer and can donate €250 or more in one calendar year, your donation can be worth up to 72% more – at no cost to you!
At the end of each year One Family will post out donation receipts and tax forms to all who are eligible. All you need to do is fill it out and return it.
Corporate Donor:
If a company makes a donation of €250 to One Family, the company can claim a deduction for the donation as if it were a trading expense.
The company benefits from the tax relief.
Self-Assessed Donor:
If you are self-assessed, and you donate over €250 in one tax year to One Family, we will send you a receipt for your donation.
When you fill out your tax return, deduct the donation amount from your taxable income thus reducing your tax bill.
The donor benefits directly from the tax relief.
To see the forms on the revenue website follow the link below:
http://www.revenue.ie/en/tax/it/forms/chy2cert-charity.pdf
For more information contact 01 662 9212 or email development@onefamily.ie.
