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Gifts are trivially tax free in the UK excepting cases of Inheritance Tax whereby someone pretends to 'gift' an inheritance before dying instead of having it ta
by esotericn 7y ago
Gifts are trivially tax free in the UK excepting cases of Inheritance Tax whereby someone pretends to 'gift' an inheritance before dying instead of having it taxed normally.
It would surprise me if that were not true globally.
A donation is definitionally a gift. If it's not due to some legal wankery, rename it, doesn't matter.
- em-bee 7y agoit's not. as far as i know, at least in the US only donations to registered non-profits are tax free. any other donation is taxed like any other income. if it's a one-off, sure, calling that a donation may be trivial, but if you start getting donations on a regular basis, you have to prove that they are in fact donations, and not hidden payments for a service. if it weren't so, we would not need to have entities register as non-profit.
- Magnets 7y agoYou can't just freely receive donations and not pay any tax. There is definitely an argument that you are donating to ensure future development of the software, essentially quid pro quo. Edit: Wireguard literally make that case while soliciting donations >We're extremely grateful for all donations, which enable us to continue developing WireGuard as free open source software. We are happy to receive donations from interested companies who would like to see WireGuard development continue and thrive, as well as individual donations from folks who would simply like to say "thanks".
- esotericn 7y agoWell, if I'm not on antidepressants yet, I will be soon.