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Donation of domain

Labeled as opinion in General Domain Discussion, started by NameZest, Feb 21, 2017

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  1. namezest

    namezest Top Contributor VIP

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    Is it possible to donate a domain to a non profit or charity and get a tax deduction as a result?
    Has anyone here done it? I would like some input on the subject. Thanks.
     
    Last edited: Feb 21, 2017
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  2. LarryDomain

    LarryDomain Top Contributor VIP

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    Yeah good idea..gonna follow your post cuz tax season is here!
     
  3. william ericson

    william ericson Restricted (Proxy Risk)

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    i haven't a clue but sounds interesting
     
  4. deez007

    deez007 The More I Learn The Less I "Know" VIP

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  5. Jake2011

    Jake2011 Established Member

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    As an accountant I can say yes you can provided the charity is registered as a tax concession charity in your country. If you want to claim more than the reg or purchase price then you will need an industry recognised formal valuation otherwise you will not have a leg to stand on in an audit.
     
  6. namezest

    namezest Top Contributor VIP

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    Thanks I was wondering about that, so I am guessing you can claim the total amount of the domain age (renewal fees) and original purchase price and that is that....
     
  7. urlurl

    urlurl Top Contributor VIP ★★★★★★★★★★

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    maybe, if they give you a tax receipt.
     
  8. Jake2011

    Jake2011 Established Member

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    You probably cannot claim past years registrations because you do not actually own a domain. You only ever lease a domain in return for the rights to use that domain for a period of the lease amount. So if you paid for 1 year at a time then that would be the maximum unless there are special rulings passed by the Tax Department in your country to allow for past lease fees. Domains are a little tricky in the ownership area. For example you can pay 1 million dollars for a domain and yet if you do not pay the $12 the next year then you no longer own the rights to that domain and the domain is only worth the $12 dollar reg fee to the next buyer unless it is caught in the loops of drop auctions run by the bigger players like Godaddy and its myriad of associate sites. By the way I like GoDaddy and it is not the only one that plays this game.
     
    Last edited: Feb 21, 2017
  9. william ericson

    william ericson Restricted (Proxy Risk)

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    yeah maybe if they give you a digital invoice or something
     
  10. VictorVictories

    VictorVictories Established Member

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    That is a good gesture, and if it can give tax benefits, it is a good move. But then commercial tax law vary from country to country and is it beneficial is the question that needs to be answered.
     

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