Finian McGrath (Dublin North Central, Independent)
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Question 131: To ask the Minister for Finance his plans to provide new tax and other incentives aimed at making cultural and educational philanthropy more attractive and to assist job creation. [43875/10]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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Section 848A of the Taxes Consolidation Act 1997 (TCA) already provides for a generous scheme of tax relief for donations of money or designated securities to eligible charities and other approved bodies. Schedule 26A, Part 1, of the TCA, sets out the approved bodies for which donations relief is available. The majority of educational establishments in the State are eligible. The precise arrangements for allowing tax relief on such donations varies, depending on whether the donor is a PAYE taxpayer, a person who is subject to self-assessment or a company. Section 1003 of the TCA already provides tax relief in respect of the donation of important national heritage items to the Irish national collections. The relief consists of a tax credit equal to 80% of the value of the heritage item(s) donated, which can be credited against particular tax liabilities incurred by the donor.

All tax reliefs and incentives are reviewed regularly as part of the annual Budget and Finance Bill process.