We need your help now
Support from readers like you keeps The Journal open.
You are visiting us because we have something you value. Independent, unbiased news that tells the truth. Advertising revenue goes some way to support our mission, but this year it has not been enough.
If you've seen value in our reporting, please contribute what you can, so we can continue to produce accurate and meaningful journalism. For everyone who needs it.
Sign in. It’s quick, free and it’s up to you.
An account is an optional way to support the work we do. Find out more.
By continuing, you are indicating that you accept our Terms of Service and Privacy Policy.
THE GOVERNMENT HAS confirmed that there will be a new tax relief scheme made available to charities who want to apply for exemptions.
It means that charities who apply for the exemption could pay less tax, which would lead to more money raised by charities through fundraising going to those causes.
Responding to a question from Fianna Fáil’s finance spokesperson Michael McGrath, the Minister for Finance Paschal Donohoe said:
“I am advised that the Revenue Commissioners have developed systems to enable charities submit claims and to support processing and payment of claims. The facility to make claims under the scheme will be available on ROS from January 2019.”
The fund would mean that charities will receive a refund of their VAT costs based on the level of non-public funding they receive.
The scheme will see the compensation paid one year in arrears, so the VAT costs that charities have incurred in 2018 are applicable.
Donohoe said that charities would be entitled to a refund of a proportion of their VAT costs based on the level of non-public funding they receive.
For example, where a charity’s gross income for 2018 involves 30% funding from State/EU/international organisations and 70% from privately sourced income, they can claim 70% of their VAT input costs for the year.
Where the total amount of claims in a year exceeds the capped amount, charities will be paid on a pro rata basis, i.e. where the total value of claims is double the capped pool amount, each charity will receive 50% of their claim.
The Revenue Commissioners are expected to issue detailed guidance about the operation of the scheme once the Ministerial Order giving effect to the scheme is signed into law later this month.
“Fianna Fáil has been calling for the establishment of a VAT compensation scheme for charities for quite some time,” McGrath said, “and was to the fore in securing the inclusion of the scheme in the Budget over a year ago.”
“While the €5m fund available for VAT refunds is modest, it represents an important start and Fianna Fáil would support the expansion of this scheme in the years ahead.”
To embed this post, copy the code below on your site
Time for the minister to go. You could win money on the time she says “extraordinary times”. Has failed to answer any of the questions tonight.
@Brendan Woods: newly elected and at the top table. This Govt brings Bilko or The Little Rascals to mind.
If worst non core subjects were included , surely all students were affected,not just 6,500.
@Leonard O’mahony: Exactly. The media questioning is poor. It doesn’t make sense that it’s only 6500 that had the 2 worse subjects. Also doesn’t make sense that having 2 worse subjects caused any grade increases. There is a lot more to come.
@Leonard O’mahony: the error was about chosing lower junior cert marks! So how many had junior cert? 90% we are being mislead on thus to soften the bow.
This is so bad. Poor people distraught. Absolute shambles.
Well folks the reason they would not announce further new restrictions to bring Cork to level 3 has all been laid before us. They are clutching at straws and imagine a parent forking out 3 grand last week so the young fella got a place in Galway and then he finds out that he should have got a place in Cork where he is from . I say no more
I don’t know if this has been reported as wasnt listeningto radio, but round 2 offers that came out last week, have been put in stasis, for UCD anyway. My niece got a round 2 offer of her first preference, accepted it last week, moved back home from where she had gone to start the 5th pref course (cancelling that in meantime), and is now in limbo as seemingly UCD have told her that they are now not finalising the acceptance until this debacle is resolved. Limbo for her…
@Lisa Daly: University College Limbo!!!! The whole thing us a mess. Do the Department think they are dealing with the future prospects of real human beings?
Sweet Jesus…The circus continues. The part time Taoiseacht Michael Martin must be pondering the old Chinese saying…Be careful what you wish for..While the future part time Taoiseacht Varadkar appoints Jerry Buttimer and other senators who attended golf gate to Oireachtas committes. What a F..king circus.
Right mess!
Mishap?
@Anne Marie Devlin: I see they’ve changed the headline
A €15 million howler.
All students should receive the result they were entitled to. If you received a higher mark as a result of an error you should not benefit from it as others will lose out. If they succeeded in obtaining a course on the back of it they probably should keep their spot but they should get their CAO points changed for future CAO round offers this year and onwards.
Leonardo da vinci never went to university. It kept him awake at night too.
This is a cluster of cluster fecks, in an ongoing clusterfeck…a tri-cluster feck!
Am I missing something here? How are only 6500 students affected by this coding error? Were the junior cert results of only 6500 students submitted by schools? Surely it should be affecting all students.. Except those who maybe changed school or went to private grind schools where no junior cert results would have been submitted.. I assume? Please feel free to lambaste me if I have missed something obvious!!!
If they knew last week , they should have advised students/parents….. before we paid thousands for accomodation later in the week!
have your say