Guide to Giving
MEDIA, JOBS & RESOURCES FOR THE COMMON GOOD
NEWS  |  Politics

ATO Online Guidelines for Public Ancillary Funds


Thursday, 19th January 2012 at 9:41 am
Staff Reporter
The Australian Tax Office has launched new online guidelines and information to help Not for Profit organisations seeking deductible gift recipient (DGR) status as Public Ancillary Funds (Public AFs).

Thursday, 19th January 2012
at 9:41 am
Staff Reporter


0 Comments


FREE SOCIAL
SECTOR NEWS

 Print
ATO Online Guidelines for Public Ancillary Funds
Thursday, 19th January 2012 at 9:41 am

The Australian Tax Office has launched new online guidelines and information to help Not for Profit organisations seeking deductible gift recipient (DGR) status as Public Ancillary Funds (Public AFs).

New legal requirements for this DGR category came into operation on 1 January 2012.

The online information includes a Public Ancillary Funds homepage that provides information about the DGR category and the requirements for endorsement. The transitional arrangements for Public AFs endorsed on or before 31 December 2011 are also discussed.

The home page provides links to the other information for public AFs, including the:

  • Public ancillary fund model trust deed
  • Public ancillary fund – schedule for deductible gift recipient applicants
  • Agreement to comply with the public ancillary fund guidelines
  • Revocation of agreement to comply with the public ancillary fund guidelines
  • Notification of change to the governing rules of an endorsed public ancillary fund
  • Public ancillary fund guidelines, which are located on the Federal Register of Legislative Instruments.

On 29 November 2011, the Tax Laws Amendment (2011 Measures No. 7) Bill 2011 received royal assent.

Approximately 1,600 Public Ancillary Funds in Australia solicit tax deductible donations from the public to distribute to deductible gift recipients (DGRs) and are a commonly used structure for community philanthropy.

The Federal Government says the reforms have been much anticipated by the sector and it hopes the changes will bring the standards of accountability and governance of Public Ancillary Funds in line with Private Ancillary Funds.

Under the reforms the Treasurer will have the power to make legislative guidelines to establish and maintain Public Ancillary Funds.

The changes also give the Commissioner of Taxation the power to impose administrative penalties on trustees who fail to comply with the guidelines and to remove or suspend trustees of non-complying funds.

More information can be found at the Australian Taxation Office website.  

Read our coverage of Public Ancillary Funds here. 



Guide to Giving

FEATURED SUPPLIERS


NGO Recruitment is Australia’s not-for-profit sector recru...

NGO Recruitment

...


Yes we’re lawyers, but we do a lot more....

Moores

Brennan IT helps not-for-profit (NFP) organisations drive gr...

Brennan IT

More Suppliers

Get more stories like this

FREE SOCIAL
SECTOR NEWS

YOU MAY ALSO LIKE

Public Interest / Private Interest – A Fundamental Distinction

David Crosbie

Thursday, 14th September 2017 at 8:46 am

Boosting Philanthropy For A Stronger Australia

Wendy Williams

Monday, 11th September 2017 at 5:16 pm

POPULAR

Moves to Stop Volunteering at Overseas Orphanages

Luke Michael

Wednesday, 13th September 2017 at 1:54 pm

Future Uncertain for Disability Organisations Following Funding Cuts

Wendy Williams

Tuesday, 19th September 2017 at 8:29 am

Majority of NFPs Are Not Believed to be Well-Run, According to New Survey

Luke Michael

Tuesday, 12th September 2017 at 4:14 pm

More Australians Are Giving Time Not Money

Wendy Williams

Monday, 11th September 2017 at 5:07 pm

Write a Reply or Comment

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


Guide to Giving
pba inverse logo
Subscribe Twitter Facebook

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

You have Successfully Subscribed!