PAFs & Philanthropy

Legislation has been passed to amend Queensland’s Trusts Act 1973. This will enable Queensland-based Prescribed Private Funds (PPFs) and Ancillary Funds to distribute to Deductible Gift Recipients (DGR) regardless of whether or not the DGR is charitable at law, provided that the PPF or Ancillary Fund applies to the ATO to become an Income Tax Exempt Fund (ITEF).

We emphasise that trustees should seek their own legal advice before acting.

This is similar to changes made to the Charitable Trusts Act 1993 in NSW and the Charities Act 1978 in Victoria enabling ITEFs to grant to a wider range of DGRs.

The amendment to the Queensland Trusts Act can be viewed at: http://www.legislation.qld.gov.au/LEGISLTN/ACTS/2009/09AC002.pdf

Our acclaimed Trustee Workshops will be held in Melbourne and Sydney this month:

SYDNEY
9:30 AM - 1 PM, Tuesday 17 March 2009

MELBOURNE
9:30 AM - 1 PM, Thursday 19 March 2009

This workshop is an ideal base for new trustees and foundation staff; useful to those providing advice on setting up foundations and trusts; and an excellent reference document and aide-memoire to those already familiar with its subject. This workshop also provides an opportunity for those with significant interaction with foundations and trusts to understand the responsibilities and issues considered by Trustees.

A new trustee handbook on the “Roles and Duties of Trustees of Charitable Trusts and Foundations in Australia” will provide the materials for the workshop. Created in consultation with Philanthropy Australia’s Members, this Trustee Handbook is an essential document for PPFs, Community Foundations, Family Foundations, Charitable Trusts and Ancillary Funds.

Only $385.00 for Members of Philanthropy Australia, and $605.00 per attendee for non-members, this workshop is presented by David Ward, Treasurer of Philanthropy Australia and author of the Trustee Handbook. David is a Director of ANZ Trustees and ShareGift Australia and is Trustee Representative on several charitable trusts including the Hugh DT Williamson Foundation, the Alexander Miller Estate and the Alexander Wright Wales Trust.

See our Trustee Workshop page for details and to book your place!