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Charity donations + tax

  • 28-11-2013 7:01pm
    #1
    BillyBoy13
    Closed Accounts Posts: 296 ✭✭


    I was talking about this elsewhere and here probably really is the logical place to ask.

    Obviously enough you cant just set up a charity right of the bat. You have to be in business for a while first.

    So for the first year or so we plan to operate as a non-profit organisation. Thats straight forward enough.

    But the thing is can another company give us a donation and write it off come tax time while we are still waiting for our charitable status to come through?

    Thanks for any help... :)


Comments

  • #2
    dogsears
    Registered Users, Registered Users 2 Posts: 535 ✭✭✭dogsears


    Nope, sorry - the recipient must be an "approved body" i.e. approved as a charity.


  • #3
    BillyBoy13
    Closed Accounts Posts: 296 ✭✭BillyBoy13


    Thats a pity. Ah well, I guess we'll just have to figure something else out.

    Thanks for the advice by the way :)


  • #4
    Alan Shore
    Registered Users, Registered Users 2 Posts: 735 ✭✭✭Alan Shore


    It depends on what it is for. Clearly if they give you a donation and it does not qualify then its not deductible, but if they were to sponsor an event or an activity that you were doing then it would be classed as advertising or sponsorship.

    In my experience its better to engage with Charity Section of Revenue at the start as you have to be a charity for 2 years before you can apply to be an "eligible charity" for donations.


  • #5
    BillyBoy13
    Closed Accounts Posts: 296 ✭✭BillyBoy13


    Alan Shore wrote: »
    It depends on what it is for. Clearly if they give you a donation and it does not qualify then its not deductible, but if they were to sponsor an event or an activity that you were doing then it would be classed as advertising or sponsorship.

    Im a tad bit confused with above quote.

    So you are saying its basically situational dependent.

    An example of the top of my head, if it was a football team just say, we could get a company to buy our jerseys for us. And then they claim tax back because it was actually a marketing gimmick since the company name is printed across the jerseys.

    But a local business man couldn't just make a 100euro cash donation.

    Is that kind of what you are saying?


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