Qld Trusts Act 1973 amended

Legislation has been passed to amend Queensland’s Trusts Act 1973. This will enable Queensland-based Prescribed Private Funds (PPFs) and Ancillary Funds to distribute to Deductible Gift Recipients (DGR) regardless of whether or not the DGR is charitable at law, provided that the PPF or Ancillary Fund applies to the ATO to become an Income Tax Exempt Fund (ITEF).

We emphasise that trustees should seek their own legal advice before acting.

This is similar to changes made to the Charitable Trusts Act 1993 in NSW and the Charities Act 1978 in Victoria enabling ITEFs to grant to a wider range of DGRs.

The amendment to the Queensland Trusts Act can be viewed at: http://www.legislation.qld.gov.au/LEGISLTN/ACTS/2009/09AC002.pdf

Mar. 25, 2009

 Tags: news, government, general, advocacy

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