Tax Relief for Donations
We have received approval for tax relief on donations for this development subject to amounts exceeding €250 as stipulated by the rules of the donation scheme. The benefits vary depending on the individuals tax classification. Please see below more details of how this scheme can be of benefit to you or the club depending on your tax classification.
1. PAYE taxpayer
Collected by the club on submission of forms.
If you are solely a PAYE taxpayer, Revenue treats the amount paid by you to the club as net of tax and will refund the tax paid by you to our club directly.
Assuming you pay tax at the marginal rate of 40%, the table below gives examples of the amount the club will receive because of your kind donation.
Example:
| Donation by PAYE Taxpayer | Paid to Club by Revenue | Total Benefit to Tulsk GAA |
|---|---|---|
| €250 | €167 | €417 |
| €500 | €333 | €833 |
| €1,000 | €667 | €1,667 |
If you have made a payment under the PAYE donation scheme, please download the Revenue form and return the completed form to: friendsoftulsk@tulskgaa.ie
Download Revenue Form2. Self-Assessed Taxpayers
Individual reduces the net tax due.
A benefit of the donation scheme for the self-assessed individual, means that revenue treats the amount donated by you to the club as a deductible expense in respect of your income tax payable. Assuming you pay tax at the marginal rate of 40%; we would ask you to give consideration when making your donation to the available tax deduction. The table below gives examples of the amount that will be received by our club and the cost to you with respect to your kind donation.
In the event that the donor is both a PAYE and self-assessed taxpayer the rules of the donation scheme stipulate that the self-assessed classification applies.
Example:
| Donation by Self Assessed Individual | Tax Payable for Individual Reduced by | Cost of Donation to Self Assessed Individual |
|---|---|---|
| €250 | €100 | €250 |
| €5000 | €200 | €300 |
| €1,000 | €400 | €600 |
3. Companies
Reduces the net tax due.
Revenue treats the amount donated by the Company to our club as a deductible expense against your corporation tax payable. Assuming your company pays corporate tax at the rate of 12.5%; we would ask you to give consideration when making your donation, to the available tax deduction. The table below gives examples of the amount that will be received by our club and the cost to your Company with respect to your kind donation.
Example:
| Donation by Company | Tax Payable for Company Reduced by | Cost of Donation to Company |
|---|---|---|
| €250 | €31.25 | €218.75 |
| €500 | €62.50 | €437.50 |
| €1,000 | €125 | €875 |