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Historically, an individual or family wishing to undertake philanthropic activities was effectively limited to making regular gifts to charitable bodies. In 2001, the Government legislated for the creation of the then Prescribed Private Funds, now Private Ancillary Funds (PAF), an efficient vehicle through which to fulfill philanthropic objectives.
A PAF is relatively easy to establish and offers the key benefits of tax deductibility for donations to the PAF whilst control can be retained by a family or corporate group. The Myer Family Company has extensive experience in establishing and managing PAF’s for clients and in the investment of the assets of family foundations.
Peter Winneke
Head of Philanthropic Services
Telephone: 61 3 9207 3000