asked the Minister for Finance if the scheme for tax relief on donations to sporting organisations is now operating; and if he will give details of the scheme.
Written Answers. - Tax Relief to Sporting Organisations.
68.
The scheme to which Deputy Gregory refers was introduced by section 8 of the Finance Act, 1986, which provides that individuals or companies may claim tax relief in respect of gifts of money made on or after 6 April 1986 to the Minister for Education for the benefit of Cospoir — the National Sports Council. The section as enacted is still in operation.
Relief is available only to the extent that no value is received directly or indirectly as a result of making the gift. Any value received by the donor from the ultimate recipient of the gift or otherwise will be deducted from the amount on which tax relief is to be given.
In order to qualify for the relief the aggregate of the net amount of gifts (i.e. after the restriction for value received) must exceed £100 in any year of assessment or accounting period and the maximum amount on which relief can be granted in that year or period is £10,000.
Gifts to which the section applies must not be deductible from the profits or gains of a trade or profession under any other provision of the Tax Acts e.g. as a trading expense.