charitable donations write off against tax

nino1

Just watched secret millionaire and I'm curious. The lady owned a group of pharmacies and donated €40,000.
How much of that can they write off against tax?

Turnover was €24.5m, directors remuneration was €454,000 and company made a loss of €458,000 last year.

nompere

It rather depends on whether she is treated as self-employed or a PAYE taxpayer. There are different rules. Most directors are PAYE taxpayers.

It also depends on whether the donation was personal or corporate.

The details are all in CHY 2 here: http://www.revenue.ie/en/tax/it/leaflets/index.html

A company which made a tax loss won't get any benefit from a donation until it is profit-making again.

JustAThought

If it's an individual donation, PRSI salaried, regardless of the profitability of the donating company, the registered charity can claim back a further amount if the donor fills out a form to declare it as a charitable gift.
Really worthwhile to get your donors to do this.

Either way, the charity wins.
So well done the giver .

Sunny Dayz

The cheques she wrote were from the company bank account, so it would be the company to claim back in the CT return