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Gofundme Query

  • 15-06-2021 7:43pm
    #1
    genie_mac
    Registered Users, Registered Users 2 Posts: 11 ✭


    Hi there,

    I am just wondering if anyone on here knows if there are any implications to setting up a gofundme, either from taxes on money onto your account, or affecting sick pay etc? Apologies if this has been asked before. Hoping to set up one for my friend who has been diagnosed with terminal cancer

    Cheers


Comments

  • #2
    dennyk
    Registered Users, Registered Users 2 Posts: 1,783 ✭✭✭dennyk


    You'd really want to consult with an accountant. If it is a personal GoFundMe to pay an individual's medical costs and the donors are not receiving anything in exchange for their donations, though, they might be considered gifts, in which case they'd probably fall under the €3000 CAT exemption (assuming that each of the individual donations are from different donors and are each less than €3000, of course; if any single donor gives more than €3000, the balance would either count against the recipient's Group C lifetime threshold or would attract CAT if that threshold has already been exceeded).

    How they'd affect sick pay would be up to the employer's policies, but I've never heard of a policy that reduces or removes sick pay because the recipient received a gift.


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