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Charitable giving tips and traps

June 23rd, 2015

A good financial strategy should include a structured and long-term approach to philanthropic giving which will also provide tax advantages, the independent trustee company's general manager philanthropy Tabitha Lovett says.

Instead of simply writing a tax-time cheque for a chosen charity, Ms Lovett suggests looking at establishing a perpetual charitable trust for long-term benefits.

She says it need not be expensive or complicated, with a donation of $20,000 enough to seed and establish a philanthropic vehicle.

"Ultimately, a perpetual charitable trust can help to better fulfil a donor's philanthropic goals in a much more targeted and lasting manner and will ensure a greater impact on their chosen charity or cause rather than ad-hoc donations."

Read the full article - Yahoo Finance

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