Go fund me

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elacsaplau

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What are the tax implications for donors and recipients in a Go Fund Me campaign designed to meet the costs of an overseas lifesaving opetation for a child?
 
There is no tax relief for the donor.

The recipients would be subject to CAT.

If they receive any gift in excess of the threshold, it would be liable for CAT.

However... contrary to public opinion, Revenue is not interested in pursuing a few hundred euro in cases like this.

Brendan
 
Brendan Burgess said:
The recipients would be subject to CAT
Click to expand...

Thanks Brendan,

I'm going to set out an example to be sure to be sure I understand!

If 50 people donate €1k each to person X and one person donates €5k, technically the CAT liability for X will be based on a taxable gift amount of €2k.

Be this right?!
 
The threshold for unrelated people is €16,250.

So all a €5k gift does is reduce that lifetime figure by €2,000 and no CAT is payable.

But... if the recipient had already used up the €16,250 threshold , then that be right.

Revenue is not scanning Go Fund Me to find gifts which might trigger CAT.

Brendan
 
Some Go Fund Me campaign's probably would trigger it though ...

As they have raised €750k
 
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Only individual donations over 3k fall outside the small gifts exemption
 
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