Charitable trusts are set up to hold money or assets and carry out activities for the benefit of the community. Five main types of charitable trusts exist in Australia:
- Australian charitable trust
- General charitable trust
- Prescribed charitable trust
- Deductible gift recipient
- Prescribed private fund
Each type of charitable trust brings with it different requirements and benefits. At The Practice we know the practicalities of the charitable trusts and so are able to assist you by:
- Preparing the trust deed
- Applying to the ATO for an ABN
- Organising tax exemptions where applicable
Most importantly, our experience enables us to ensure your trust is used to effectively reach your charitable goals.
