Donors of "heritage items" to the State will be able to avail of a new tax deduction under the Budget.
Tax relief will be available at a rate equal to the value of a heritage item donated to a national collection. The item must be worth at least €95,250 and the value of items approved for donations under the scheme cannot exceed €3.8 million in any one year. Incidental costs, including auctioneers fees, incurred in purchasing the item, can be included in its overall price.
The Minister for Finance said it was proposed to increase the single-item threshold to €100,000 and the annual limit to €6m in due course.
