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Taxation Administration (Public Ancillary Fund) Guidelines 2022
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Department of the Treasury
This item is authorised by the following title:
Taxation Administration Act 1953
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F2022L00184
24 February 2022
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Part 1—Preliminary
1 Name
2 Commencement
3 Authority
4 Schedules
5 Interpretation
6 Penalties
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Part 2—Rules for establishing and maintaining public ancillary funds as deductible gift recipients
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Division 1—General
7 Object of this Part
8 General principles
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Division 2—Establishing a public ancillary fund
9 Purpose and objects of the fund
10 Not-for-profit
11 Operated only in Australia
12 Trustees
13 Change to governing rules
14 Trustee liability
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Division 3—Operation of a public ancillary fund
15 Minimum annual distribution
16 Valuations
17 Keeping accounts
18 Financial statements
19 Audits
20 Investment strategy
21 Investment limitations
22 Uncommercial transactions and benefits to founders and donors
23 Fees and expenses
24 Donors
25 Compliance with all relevant laws
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Division 4—Winding up, or ceasing to be, a public ancillary fund
26 Winding up, or ceasing to be, a public ancillary fund
27 Portability
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Part 3—Application and transitional provisions
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Division 1—Transitional rules for pre-2012 public ancillary funds
28 Governing rules inconsistent with these guidelines
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Division 2—Things done under the Public Ancillary Fund Guidelines 2011
29 Things done under the Public Ancillary Fund Guidelines 2011
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Division 3—Transitional rule: coronavirus economic response
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30 Carry forward credit for distributions in excess of minimum
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Schedule 1—Amendments
Public Ancillary Fund Guidelines 2011
Taxation Administration (Private Ancillary Fund) Guidelines 2019