Private Ancillary Funds (PAF) System
RAWCS(Rotary Australia World Community Service) Overseas Aids Funds can now accept Tax deductible donations and grants from all sources in Australia including business corporations and not-for-profit organisations.
Rotary Australia World Community Service Ltd
Major Upgrade for Overseas Aid Fund
Philanthropy in Australia is on the increase following the introduction of the new Prescribed Private Fund (PPF) system by the Government in 2002. Recently the current Government made some modifications to the system including changing the name to Personal Ancillary Funds (PAFs)
There are now nearly 900 PAFs with significant distributable funds, seeking to support organisations with worthy projects in Australia and overseas. These PAFs are unable to carry out projects in their own right or make donations to individuals. They must donate their profits to another Deductible Gift Recipient and in some circumstances to a Tax Concession Charity.
To benefit from these exciting opportunities, the Board of Rotary Australia World Community Service Ltd(RAWCS) has acted to upgrade the Rotary Australia Overseas Aid Fund (OAF) to full charity status. This required the re-registration of the OAF with the Australian Taxation Office and approval to operate as a Tax Concession Charity.
This is a significant move for RAWCS and Rotary in Australia.
Our Rotary Aistralia Overseas Aid Fund ABN: 21 388 376 554, now holds the following registrations, which will enable it to accept tax deductible donations and grants from all sources in Australia including business corporations and not-for-profit organisations.
Deductible Gift Recipient
Tax Concession Charity and
Income Tax Exempt Fund
A number of Foundations have already approached RAWCS to ascertain its eligibility to receive PAF
distributions. The Board believes there will be a significant increase in donations from this source and this in turn will increase the size and scope of projects undertaken by the RAWCS divisions and by the Rotary Clubs.
All Rotarians should be alert to potential donors seeking information about Deductible Gift Recipient entities within Rotary, especially those wishing to support a project overseas. These people should be directed to our Regional Chairmen, District RAWCS representative or our national website at www.rawcs.com.au
The number of RAWCS projects is expanding rapidly as Rotarians take advantage of the opportunity to be actively involved in international humanitarian projects. These projects are making a difference especially those associated with malaria programs in the Solomons and Papua New Guinea.
Immediate Past Chairman
Rotary Australia World
Community Service Ltd.