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Published by Terry McCabe
May 14, 2020 in Commercial

Federal Government announces amendments to the Private Ancillary Fund guidelines

In a bid to incentivise philanthropy during these tough times, the Federal Government is providing credits for Private Ancillary Funds that exceed their minimum yearly distributions (see the announcement here). Private Ancillary Funds (PAFs) are required to distribute 5% of their net assets each financial year. But, if in the 2019/20 and 2020/21 financial years collectively, a PAF distributes a total of 4% more than the required amounts,...
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