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kerrin
Apprentice
Joined: 27 Sep 2006
Posts: 5
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 Posted: 02/14/08 - 06:33 Post subject: |
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| Hello there. I hope someone has some advice for me. We are looking into starting up a charitable organization helping sick dogs and cats to have a good quality of life. We would actively work on fund-raising, and the work of the charity would depend completely on donations from admirers. I would like to know if donations are taxable? Kind regards. |
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byrom
Apprentice
Joined: 18 Jun 2006
Posts: 5
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| Posted: 03/15/08 - 00:09 Post subject: |
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| No, donations aren't taxable anymore in most countries, and frankly niether should be be. That goes for real charities of course, who are using the income derived from donations exclusively for activities relating to the purpose of the charity. I think you need to be able to account for every penny. We've all heard stories about so-called "charities" abusing donations, and I think it would greatly benefit you to be completely open about every aspect of your finances. |
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