207 Rents of properties belonging to hospitals and other charities

Summary

This section provides that certain income of hospitals and other charities chargeable to income tax under Schedules C, D and F is exempt from income tax where such income is applied solely for charitable purposes.

Details

Exemptions

(1) Rental income and profits of any property belonging to any hospital, public school or almshouse, or vested in trustees for charitable purposes, is exempt from tax under Schedule D to the extent that such income is applied for charitable purposes only.

Income forming part of the income of any body of persons or trust established for charitable purposes only is exempt from tax to the extent that such income is applied for charitable purposes only and provided such income is —

• interest, annuities, dividends or shares of annuities chargeable under Schedule C,
• yearly interest or other annual payments chargeable under Schedule D, or
• distributions chargeable under Schedule F.

Any interest, annuities, dividends or shares of annuities chargeable under Schedule C in the names of trustees and applied solely towards the repair of any church or building used for the purposes of divine worship is also exempt.

(2) Gifts (within the meaning of the Charities Act, 1961) which relate to graves and memorials are deemed to be gifts for charitable purposes and this exemption applies accordingly.

Claims

(3) Claims for relief under this section must be verified by affidavit and proof of the claim may be given by the treasurer, trustee or authorised agent.

Penalties

(4) Any person making a false claim under this section in respect of income chargeable under Schedule C forfeits €125.

Relevant Date: Finance Act 2021