Prescribed Private Funds Message Goes to WA
17 October 2005 at 1:10 pm
Recent legal and tax changes have made family or private foundations more attractive through the framework offered by Private Prescribed Funds (PPFs) and legal firm Freehills with Artsupport Australia are taking that message to Western Australia in November.
The partnership is providing a seminar to introduce the processes associated with setting up a PPF and demonstrate the benefits that it can bring.
Artsupport Australia is a joint initiative of the Australia Business Arts Foundation and the Australia Council, established in mid 2003 to foster cultural philanthropy and grow private support for the arts.
The seminar will be chaired by Tony Howarth AO who has had over 30 years experience in the banking and finance industries. His numerous board positions include the Prime Minister’s Business Community Partnership, the Australia Council’s Major Performing Arts Board and the Western Australian Community Foundation.
John Emerson AM is a partner with the law firm Freehills who specialises in charity law and who was instrumental in establishing the legal framework for PPFs.
Emerson says philanthropy or benevolent ‘giving’ can be used strategically by individuals, families and corporations in their overall wealth management plans.
He says PPFs combine the advantages of tax concessions and private control in a structure that annually distributes funds to organisations with deductible gift recipient (DGR) status.
The free Perth seminar on Wednesday November 9th will hear personal stories on PPFs as well as the legal framework for setting up a fund and the impact the donations can have.
The venue is Freehills Perth office at Level 36, QV.1 Building, 250 St Georges Terrace from 5.45pm-7.0pm followed by drinks and canapes.
You can RSVP by October 21 to Henry Boston on 08 9211 7923 or email to henry.boston@freehills.com.
