2019 Impact 25 Awards Night and 20 Years of Pro Bono Australia
MEDIA, JOBS & RESOURCES for the COMMON GOOD
News  |  Governance

ATO Updates PAF Trust Deed


Thursday, 11th February 2010 at 9:53 am
Staff Reporter
The ATO updates the Private Ancillary Fund (PAF) model trust deed

Thursday, 11th February 2010
at 9:53 am
Staff Reporter


0 Comments


FREE SOCIAL
SECTOR NEWS

 Print
ATO Updates PAF Trust Deed
Thursday, 11th February 2010 at 9:53 am

The Australian Tax Office has released a new Private Ancillary Fund (PAF) model trust deed.
The model trust deed for Private Ancillary Funds (PAFs) replaces the model deed issued on 1 December 2009.

A Private Ancillary Fund is the new term for what was previously known as Prescribed Private Funds.

PAFs are trust funds set up with a corporate trustee, designed to encourage private philanthropy by providing businesses, families and individuals with greater flexibility to start their own trust fund for philanthropic purposes.

In 2009 the Federal Government issued legally enforceable guidelines with the aim of setting minimum standards for the governance and conduct of PAFs and its trustees.

The new version of the deed includes a number of changes which are summarised at the start of the document.

Applications for new PAFs must be accompanied by a trust deed based on the most recent release. The ATO may refuse endorsement of a PAF which uses an alternative or superseded trust deed.

For more information about PAFs, see the ATO webpage Private ancillary funds.

Download the latest model trust deed (see attached).
 




Got a story to share?

Got a news tip or article idea for Pro Bono News? Or perhaps you would like to write an article and join a growing community of sector leaders sharing their thoughts and analysis with Pro Bono News readers?

Get in touch at news@probonoaustralia.com.au

Tags : ATO, PAF, Taxation,

 Print

Get more stories like this

FREE SOCIAL
SECTOR NEWS

Write a Reply or Comment

Your email address will not be published. Required fields are marked *



YOU MAY ALSO LIKE

Community’s fight for the Bight pays off

Maggie Coggan

Wednesday, 26th February 2020 at 5:32 pm

What makes a survey good?

Mike Davis

Tuesday, 25th February 2020 at 8:17 am

Are we outsourcing social policy to royal commissions?

Neil Pharaoh

Tuesday, 25th February 2020 at 8:13 am

POPULAR

Government inquiry launches to find answers to homelessness

Maggie Coggan

Monday, 17th February 2020 at 4:38 pm

Over 3 million Australians locked into poverty

Maggie Coggan

Monday, 24th February 2020 at 5:18 pm

Improper care causes spate of preventable deaths for people with disability

Luke Michael

Friday, 14th February 2020 at 3:42 pm

2019 Impact 25 Awards Night and 20 Years of Pro Bono Australia
pba inverse logo
Subscribe Twitter Facebook

Get the social sector's most essential news coverage. Delivered free to your inbox every Tuesday and Thursday morning.

You have Successfully Subscribed!