Tax Relief for Heritage Donations
Under Section 1003 of the Taxes Consolidation Act, 1997, tax relief is available in respect of the donation of important national heritage items to the Irish national collections. The relief consists of a tax credit equal to the value of the heritage item(s) donated which can be credited against particular tax liabilities incurred by the donor. For the purposes of the relief, heritage item(s) means any kind of cultural item including –
- any archaeological item, archive, book, estate record, manuscript and painting, and
- any collection of cultural items and
- any collection of same in their setting which are considered appropriate for donation to the national collections.
The national collections are described as Approved Bodies under the legislation. They are: National Archives of Ireland www.nationalarchives.ie; National Gallery of Ireland www.nationalgallery.ie; National Library of Ireland www.nli.ie; National Museum of Ireland www.museum.ie; Irish Museum of Modern Art www.imma.ie & The Crawford Art Gallery Cork www.crawfordartgallery.ie
The Minister for Culture, Heritage and the Gaeltacht, with the consent of the Minister for Finance, has the authority to approve further bodies for the purpose of the relief. Such additional bodies must be funded wholly or mainly by the State or a public or local authority.