We appreciate the difficult economic and financial challenges that many in our community now face but we ask you to give serious consideration to supporting the club development plan.
To join the scheme, please contact any club officers.
The club can further benefit from contributions of €250 or more per annum. Existing tax laws for sporting organisations allow them to avail of tax benefits for approved projects. In practice, this means that a donor’s contribution can be worth significantly more to the club with no extra cost or risk to the donor – e.g. for PAYE worker contributing €250, the club gets €424, including 41% tax credit. For the club to avail of this benefit, a minimum of €5 per week (€250 per year) needs to be contributed. For full details, see below.
We would also welcome any assistance from our local community and businesses in carrying out the development work.
St Rynaghs Football Club
Irish Tax Legislation provides for sporting bodies to reclaim tax from The Revenue Commissioners on behalf
of the donor. For PAYE workers, who contribute a minimum of €250 per annum, this contribution is paid
from after-tax income and it is this tax payment that is reclaimed by the sporting body. It costs the donor
nothing extra but provides a huge benefit to the sporting body.
Section 41 of the Finance Act 2002 provides for a scheme of tax relief for relevant donations to an approved sports body for the funding of approved projects. Therefore, for the propose of this fund raising project St Rynaghs Football GAA Club has been recognised by the Revenue Commissioners as an approved sports body and the Development Works have been accepted as an Approved Project
Example 1 – Donation of €250 p.a.
A donation of €250 to St Rynaghs Football GAA Club from a PAYE taxpayer will be treated as having being received ‘net’ of income tax. This means that a donation from an individual who pays income tax at the higher rate of 41% is worth an additional 72% (this is confusing when put beside the 41%. Perhaps could say) to the Club. The amount received by the club is calculated as follows.
In summary every donation of € 250 from a taxpayer is worth €424 to St Rynaghs Football GAA Club as the government will allow the Club to reclaim €174 directly from Revenue.
Example 2 – Donation of €1,000 p.a.
In summary every donation of €1,000 from a taxpayer is worth €1,696 to St Rynaghs Football GAA Club as the government will allow the Club to reclaim € 696 directly from Revenue.
If you pay any tax under the self assessment scheme YOU can claim tax relief on your donations yourself
For example if a self employed individual who pays income tax at the higher rate of 41% makes a donation of
€1,000 to the Club, the value of that donation to the Club is €1,000. However, the actual cost of the donation to
the individual may be calculated as follows:
In summary as self employed individuals are personally entitled to claim tax relief for donations, the Club hopes to
encourage them to increase the value of their donation.
In the case of corporate donations, the company is entitled to claim a deduction for the donation as if it were
a trading expense.
For example, if a company makes a donation of €1,000 to the Club, the value of that donation to the Club is
€1,000. However the cost of that donation to a company that pays tax at the 12.5% rate maybe calculated as
As companies are entitled to claim tax relief for donations, the Club hopes to encourage them to increase
the upfront value of their donation. For example:
Each tax payer must complete the enclosed form to allow the tax refund to be claimed.
Basically, this tax relief scheme provides a means for St Rynaghs Football GAA Club to raise additional funds at no extra cost to you, the donors.