The Australian Taxation Office has updated its information page on Necessitous circumstances funds. Necessitous circumstances funds are tax deductible public funds maintained to provide relief for persons in Australia who are in necessitous circumstances. “Necessitous circumstances” refers specifically to financial necessity rather than being in need generally.
The updated webpage includes a description of the requirements to be endorsed as a necessitous circumstances fund, a checklist and information on deductible gifts.
More information: Necessitous circumstances funds.
Feb. 16, 2010
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