ANBI status
The University Fund Limburg/SWOL is a recognized algemeen nut beogende instelling (ANBI). This hallmark means that your donation is, in principle, tax deductable. The advantage of donating to an organization that has the ANBI status is that the gift is fully or partially deductible from your taxable income. So the Belastingdienst (Dutch tax authorities) also contributes to your donation. Therefore, with clever use of this deduction, you can donate more. It is your choice to keep the tax advantage yourself or to donate it to an institution of your choice. A single donation is only tax deductible when it constitutes more than 1% of aggregated income in one year. There is a maximum of 10% of the aggregated income which can be tax deductible.
Transnational Giving Europe
It is also fiscally attractive for benefactors from Belgium and Germany to make donations towards science and education at Maastricht University. The University Fund Limburg/SWOL has become affiliated with Transnational Giving Europe (TGE). By making the amount payable to the TGE-affiliated foundation in their own country, donors enjoy the tax benefits and the donated amount is given in full to the University Fund Limburg/ SWOL. Do you want to know more? Contact Bouwien Janssen: bouwien.janssen@maastrichtuniversity.nl.
Companies
Just as individuals, companies can donate and deduct taxes. This is then corporate tax when it is as a BV, NV or another company taxable entity. The donator shall have to prove the donations with written documents. Deductible donations are made in one year’s benefits to ANBIs. Per year, the amount above € 227,- (2010) is deductible. The deduction is limited to 10% of the profits. The profit may not become negative after the deduction.
Individuals
With periodical donations you can benefit the most of tax advantages because they are not tied to a minimum amount in order for the tax deduction to be valid. In this way you can give more but pay less. The lower limit of at least 1% of your total income is not applicable if you support the Limburg University Fund/SWOL for at least five years and capture your donation in a notarial act. Depending on which tax applies, you can get up to 52% of your donation back.
The advantages:
- Completely tax deductible (depending on your tax rate the Tax Authorities can pay up to 52% of your donation)
- The notary office of Huenges Wajer Joosten will draw the up the notarial act for free
- It is not obliged to go to the notary office; it is possible to work with a power of attorney
- The act will expire automatically when the donator has passed away
The conditions:
- The donation is put in writing
- The duration of the gift is for at least five years
- The donation is made in fixed and equal periodical payments
- No benefits can be derived from the donation
- The donation has to be mentioned as a personal deduction post when you file your income tax
- The donation is made to an organisation with the ANBI status
Since 2014 it has been possible to lay down a periodical donation in two ways:
- With a notary (see information above)
- In a written contract between you and the University Fund Limburg/SWOL.