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Tax rules for donations to schools

  • 07-05-2011 11:32am
    #1
    rolion
    Closed Accounts Posts: 3,362 ✭✭✭


    Hello,

    Searched and found nothing to help me...
    I'm looking to "donate" some books to few schools.Basically,they wants to build up the school'library and i would like to buy books and give them for free but...how does that works from a tax perspective ?
    I'm self employed and not sure how will that look in to my books !

    Thanks in advance...


Comments

  • #2
    Kinetic^
    Closed Accounts Posts: 13,249 ✭✭✭✭Kinetic^


    It's not a business expense and there are no provisions for relief on these donations so you wouldn't be able to claim anything back against your business.


  • #3
    rolion
    Closed Accounts Posts: 3,362 ✭✭✭rolion


    Thanks,thought so...


  • #4
    Toblerone1978
    Registered Users, Registered Users 2 Posts: 684 ✭✭✭Toblerone1978


    I believe what kinetics says may or may not be correct. Could this be classed as a ‘sponsorship’ cost? Will you business get credit or public recognition for making such a contribution, then you might be able to deem it a sponsorship cost.

    Or a another way is if the school is listed as an ‘eligible charities’ by the Revenue Commissioners. A lot of schools are (even though one mightn’t class them as a ‘charity’) – click here to see if your school is listed by the Revenue. If so, and you make a donation between €250 and €10,000, you will be able to get a tax relief (income or corporation) for this amount when filing your tax return, under sec848A.

    The difference between the first and second scenario is that the first is a business expenses (meaning you also get relief for USC and PRSI), while the second is a tax deduction you include on your income tax submission (like medical expenses).


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