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Donations

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    • DONATION BENEFITS

      • The self employed person can claim the tax back at the end of each year on donations.
      • For the PAYE person whatever you give, the School can claim back the tax on your donation.
      • To avail of the tax benefit you must give a minimum of € 250 in the tax year.

      Tax Efficient Giving & PAYE

      If you donate a minimum of €250.00 during the year and you pay income tax exclusively through the PAYE system, the value of your donation to Our Lady’s School of Evangelisation-Knock can be increased dramatically.

      Our Lady’s School of Evangelisation-Knock can claim an extra 25% of the value of your donations if you pay income tax at the standard rate of 20%, while we can claim an extra 69% if you pay tax at the higher rate of 41%. All of this at no extra cost to you.

      Examples - Giving over 5 years € 25 per month. Which is € 300 per year. Over the five years it becomes € 1,500

      For PAYE taxpayer

      A PAYE person gives e300 in the year. The OLSE - Knock can claim back the tax that they have paid on the e300, i.e:

      • At 41% - An additional € 208
      At 20% - An additional € 75

      For the Self Employed taxpayer

      A Self Employed person giving € 300 in the year when making tax returns at the end of the year can claim back either € 123 or € 60 depending on tax rate (41% or 20%). So over the five years to give the e1500 only costs € 885.

      Corporate Gifts

      Corporate donations of cash, shares or other saleable assets to Our Lady’s School of Evangelisation- Knock are deducted before calculating a company’s taxable profit, thus providing significant corporate tax relief. Additional relief is allowed at the corporation tax rate on the amount given to a registered charity.

      Consider a montly gift
      Over 60 months (5 years)
      Indyvidual PAYE (Payment or Pledge)
      Taxation Claimed by OLSE
      Individual Self Assessed (Payment or Pledge)
      Taxation Claimed by Individual
      50
      3000
      1,770
      1,230
      3000
      1,230
      40
      2,400
      1,416
      984
      2,400
      984
      30
      1,800
      1,062
      738
      1,800
      738
      25
      1,500
      885
      615
      1,500
      615

       

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