October 21, 2006
THERE are a myriad ways to make a philanthropic difference. Various structures will appeal to different types of investors. These include:
* Make a donation to charity. Donations of $2 or more are tax-deductible. Note that any charity functions where you get a benefit will not be tax-deductible.
* Start a prescribed private fund (PPF). These are the most modern vehicles available. They emanated from legislation initiated by the Howard Government in 2001 to promote charitable giving. They do not require donations from the public, and take advantage of laws allowing donations to be spread over several years to reduce taxable income."
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