Irish charities welcome proposed tax changes
Howard Lake | 10 September 2009 | News
The Irish Charities Tax Reform Group, which represents Ireland’s leading charities and aid agencies, has given a “cautious” welcome to the Commission on Taxation Report’s recommendation relating to charitable donations.
The ICTRG welcomed the proposed reduction in the tax relief threshold from €250 to €100. But the group, whose members include Concern, Trócaire, Goal, Amnesty International and the Society of St Vincent de Paul, expressed “significant disappointment” over the proposal to standardise the reliefs. This, the statement said, was likely to effectively cut the benefit to charities.
The suggested simplification of the scheme by treating donations from PAYE and self-assessed donors in exactly the same manner will reduce administration for both charities and Revenue and should result in increased benefit to charities.
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The ICTRG added the proposal to replace the existing “complicated upper limit on donations” with “a straight-forward ceiling of €500,000” was to be applauded.
On philanthropy, the report also recommended that income tax relief for expenditure on heritage buildings and gardens be discontinued. It said the scheme for payment of tax by means of donation of heritage property should be retained but modified so the tax relief is limited to 50 per cent of the value of the property donated.
www.charitytaxreform.com
About Howard Lake
Howard Lake is consultant editor of UK Fundraising. He founded the site in 1994 and successfully sold it in 2022. As director of Giving X Ltd he is exploring growing giving on a massive scale.
He is the founder of Fundraising Camp and co-founder of GoodJobs.