Business Services Industry
Trusts help make charity pay.
Australasian Business Intelligence, May, 2007
Byline: Patrick Durkin
May 29, 2007 (The Australian Financial Review - ABIX via COMTEX) -- There are now over 440 prescribed private funds in Australia, compared with just 123 in 2003. These trust funds offer a tax-effective way to make charitable donations. Gina Anderson, the CEO of Philanthropy Australia, says these funds are the nation's fastest-growing form of philanthropy. Apart from the tax breaks that are available, prescribed private funds are attractive due to the lack of complexity in establishing them and the relatively light regulatory regime. A model trust deed for setting up such a fund is available from the Australian Taxation Office.
Publication Date: 30 May 2007
PHILANTHROPY AUSTRALIA
AUSTRALIAN TAXATION OFFICE
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