How We Manage Our Funds
The Trustee ensures compliance by the Trust in its responsibilities under common law, ACT Trustee Acts, the Income Tax Assessment Act 1997, the ACT Charitable Collections Act 2003 and the new Australian Charities and Not-For-Profits Commission Act 2012.
The Trustee oversees responsible growth investment of its assets, account keeping and reporting for the Trust.
The Trustee provides continuity, perpetuity, accountability, transparency, availability, professional trustee systems and in-house trust, taxation and investment expertise.
This approach means that investors in the TRUST can have the utmost confidence that their financial support will be responsibly and securely managed.
The Public Trustee has set up trust arrangements for the management of charitable funds. The Trust uses the Trustee’s GreaterGood charitable fund as the vehicle for receiving and investing its funds.
The Trust has two funds with GreaterGood.
- The Open Fund receives non-tax deductible funds.
- The Gift Fund receives tax-deductible donations, making use of GreaterGood’s status as a Deductible Gift Recipient Item 2 status for this purpose.
- The Trust also banks with Bank Australia.