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 IEC Advisory we have done work in the past with organising Private Ancillary Funds (PAFs') for clients with philanthropic goals, and we can assist with the set up and strategy for such charitable trusts.
For more information regarding Charitable Trusts, Enquire Now.