Tax Relief on Donations
Learning Hub Limerick is an eligible charity under the Scheme of Tax Relief for Donations to eligible Charities and other Approved Bodies under the terms of Section 848A Taxes Consolidation Act, 1997
Donations over €250
Any taxpayer who donates €250 or more in a year (€20.84 in a month) to Learning Hub Limerick will either:
· Allow the Charity to reclaim the tax relief (PAYE/Self-Assessed donors)
· Allow the Corporate Donors to claim tax relief
Tax Payer Information
PAYE/Self Assessed Donor:
If you are a PAYE taxpayer or Self Assessed and can donate €250 or more in one calendar year, your donation can be worth up to 31% more to Learning Hub Limerick. To allow us to claim the grossed up amount of tax associated with your donation Learning Hub Limerick will send you a CHY2 certificate to complete and return to us.
Example: A donation of €250 will be grossed up at 31% as follows: €250*100/69 = €362.32 so the tax refund will be €362.32-€250 = €112.32. On this basis the tax refund on a donation of €500 will be €224.64 and on €1,000 it will be €449.27.
The charity benefits from the tax relief.
If a company makes a donation of €250 to Learning Hub Limerick, the company can claim a deduction for the donation as a trading expense.
The company benefits from the tax relief.
To find out more or see the forms on the revenue website follow the link below:
LEARNING HUB LIMERICK IS A REGISTERED CHARITY – OUR CHY NO IS 17180