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Tax benefits for founders and donors
Foundations pursuing charitable purposes are tax-privileged.
donations deduction
In the case of a donation to a non-profit foundation, a distinction is made for tax purposes between the donation to the assets of a foundation to be preserved (endowment) and the donation to be used promptly.
In accordance with Section 10b (1) of the Income Tax Act, donations to promote tax-privileged purposes can be donated to a charitable foundation as a whole up to 20 percent of the total amount of the donor's income as special expenses subtracted from. Deductible donations that exceed the above-mentioned maximum amount or cannot be taken into account in the year of the grant can be deducted as special expenses within the maximum amounts in the following years.
In accordance with Section 10b (1a) sentence 1 of the Income Tax Act, donations can be made to the assets of a charitable foundation to be received at the request of the taxpayer in the year in which they were granted and in the following nine years up to a total of 1 million euros subtracted from. This deduction is possible in addition to the donation deduction mentioned above. For spouses assessed jointly the amount doubles to 2 million euros, If the donor was unable to deduct the amounts within the 10-year period, these are then transferred to the general, unlimited donation presentation.
A donation is a voluntary, free donation to a non-profit organization like a foundation.
Source: Federal Association of German Foundations
Foundations pursuing charitable purposes are tax-privileged.
donations deduction
In the case of a donation to a non-profit foundation, a distinction is made for tax purposes between the donation to the assets of a foundation to be preserved (endowment) and the donation to be used promptly.
In accordance with Section 10b (1) of the Income Tax Act, donations to promote tax-privileged purposes can be donated to a charitable foundation as a whole up to 20 percent of the total amount of the donor's income as special expenses subtracted from. Deductible donations that exceed the above-mentioned maximum amount or cannot be taken into account in the year of the grant can be deducted as special expenses within the maximum amounts in the following years.
In accordance with Section 10b (1a) sentence 1 of the Income Tax Act, donations can be made to the assets of a charitable foundation to be received at the request of the taxpayer in the year in which they were granted and in the following nine years up to a total of 1 million euros subtracted from. This deduction is possible in addition to the donation deduction mentioned above. For spouses assessed jointly the amount doubles to 2 million euros, If the donor was unable to deduct the amounts within the 10-year period, these are then transferred to the general, unlimited donation presentation.
A donation is a voluntary, free donation to a non-profit organization like a foundation.
Source: Federal Association of German Foundations
