ARTICLE · 25 NOVEMBER 2010

Shaking up public ancillary funds: managing philanthropic donations may get harder

Gadens Lawyers

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On 19 November 2010, the Commonwealth Assistant Treasurer announced proposed changes to the regulatory framework for public ancillary funds, releasing a discussion paper and inviting submissions from interested parties for public consultation.

AustraliaStrategy

By Jon Cheung and Arthur Koumoukelis of Gadens Lawyers, Sydney

On 19 November 2010, the Commonwealth Assistant Treasurer announced proposed changes to the regulatory framework for public ancillary funds, releasing a discussion paper and inviting submissions from interested parties for public consultation.

In May 2010 the Rudd Government foreshadowed changes to the regulatory framework to improve the integrity of public ancillary funds and boost confidence in the philanthropic sector.

Does this affect my organisation?

A public ancillary fund is established to:

act as an intermediary between donors and organisations that can receive tax deductible donations (deductible gift recipients or DGRs) or;

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