2023-07-05 07:03:00
There should also be simplifications for the area of art and culture. Finance Minister Magnus Brunner (ÖVP) announced this on Wednesday before the Council of Ministers. It is expected that the relief volume will double as a result. “The special contribution made by donors, but also by those people who volunteer, cannot be overestimated,” said Brunner. 15 years following the introduction of the deductibility of donations, the government is taking “a big step” with the expansion.
From next year, according to the government’s plans, sports and educational clubs can also apply to be included as donation-privileged institutions. Public kindergartens and schools should be automatically taken into account. In the area of art and culture, donations should also be deductible for the institutions without having to submit an application.
In 2022, around 14 percent of donations were sold
So far, donations to 1,500 clubs and institutions as well as the fire brigades are tax deductible. In the education sector, donations have so far only been deductible if they relate to scientific research or adult education. In the field of sports, the preferential treatment only applied to disabled sports.
According to the Ministry of Finance, domestic donations amounted to around 900 million euros in the previous year. In recent years, around 13 to 14 percent of donations made have been tax deductible. This would have saved taxpayers more than 100 million euros per year. According to calculations by the Ministry of Finance, the change might double the volume of tax relief to around 200 million euros in the next few years.
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