|
|
|
Concern hopes to raise €7 million from tax refunds
Submitted by paulartherton on 8 April, 2008 - 16:41.
Aid agency Concern aims to boost fundraising by up to €7m in 2008 with a tax-back campaign. Concern can claim back up to 72% of a person’s donation under a little-used Revenue scheme.
Concern is sending out letters and Revenue forms to supporters of its work as part of the campaign.
A Concern spokesman said: “Concern can claim back an extra €63 from a €250 donation if the donor is paying tax at the standard rate and signs the CHY2 form we send in the post.
“This rebate rises to €181 if the donor pays tax at the higher rate and the donation is still €250. Concern estimates that there is over seven million euro which can be reclaimed from Revenue in 2008 if everyone that supports us returns their signed forms.”
The Revenue recently relaunched an advertising campaign calling on taxpayers to claim back taxes that are due to them.
It is believed that hundreds of millions of euro go unclaimed by taxpayers every year.
Concern is marking its 40th anniversary this year.
- Login or register to post comments
- Email this page
- Printer friendly version
- 379 reads
Latest jobs
Active forum topics
New forum topics
Recent comments
- trevorofarrell1
- Sandre
- Martin Davies
- debbiewilson
- gerrybeldon
Bloggers
We read
Latest events added
- 27/06/2008 - 14:00
- 18/06/2008 - 14:00
- 18/06/2008 - 09:30
- 25/11/2008 - 13:30
- 18/11/2008 - 13:30
Upcoming events
- PDSA's Gift Aid Awareness Week(Event)(Now)
- Silver Surfers' Day(Event)(11 hours)
- Coming of Age(Event)(5 days)
- Closing date for comments on OTS' new guidance for professional charity fundraisers(Event)(9 days)
- Volunteers Week(Event)(10 days)
Tax rates
As I and sure (and hope!) Concern are aware, the higher rate of tax was reduced from 42% to 41% last year, so the maximum rebate on a €250 donation is €173.73 (69.49% of the net donation). Actually, many charities have failed to amend this on their websites, etc.
Why is the scheme "little-used"? A look at http://www.revenue.ie/index.htm?/publications/lists/charity-donations.ht... shows over 1,500 charities registered for the scheme (and there are thousands of other groups, e.g. schools, which are eligble as of right). OK, some that registered won't have claimed yet, but we can presume most charities with significant voluntary income do. The Revenue Commissioners should be able to provide figures for total rebates for each year. Undoubtedly there are many charities who haven't yet availed of this scheme who could and should do so - perhaps you should say under-used, rather than little-used.
Bruce Clark