Latest News

Proposed New Tax Treatment of Charitable Donations

Julie Herlihy, a Tax Partner at Baker Tilly Ryan Glennon responds to recent proposed changes to the tax benefits for charitable giving. Julie is a member of The Community Foundation’s Professional Advisor Philanthropy Network.

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Capital Gains Tax (CGT) - How it Works for Philanthropy

Our thanks to Susan O’Connell of O'Connell Brennan for the following update.

Many advisors in Ireland are unaware of the tax benefits which could apply for their clients following a ‘windfall event’ which could aid setting up, for example, a family fund. The CGT rate has increased from a low of 20% to 30% in more recent times in Ireland, making it all the more attractive. No upper limit / cap applies. Donations of non-cash assets to charity can benefit from relief from capital gains tax under Section 611 of the Taxes Consolidation Act 1997.

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A Glimpse of the Future - Silicon Valley Community Foundation

We often hear about Ireland seeking to emulate what has been achieved technology wise in Silicon Valley – and in fairness Ireland is doing well. What is less well known here is the Silicon Valley philanthropy success story that has followed. The Silicon Valley Community Foundation has awarded over $1 billion in grants from its endowment and donor funds since 2007 alone! It holds over 1,500 charitable funds on behalf of donors, many of whom made their money there from IT.

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MyLegacy’s ‘Best Will in the World’ Week a Great Success

In October 2011 a new initiative to promote legacy giving in Ireland was started. Members of the public could book an appointment with a solicitor to make or change a will for €50 - with the hope that they would remember a charity.

The findings from a recent survey of some of the 150 participating solicitors who took part in MyLegacy’s ‘Best Will in the World’ week reveals many very interesting findings:

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