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  • EiffelTower The Eiffel Tower
    The Eiffel Tower was purpose built and designed in 1889. Created by Gustave Eiffel who, with a small and dedicated team, created and delivered the ultimate in unique and innovative design.
  • BigBen Big Ben
    The specifications for the construction of Big Ben's massive clock were exacting to say the least. However after almost seven years Edmund Becket Denison created what was considered "unattainable", a clock that could keep time to within one second per day.
  • LeaningTowerofPisa The Leaning Tower of Pisa
    Without intervention, the Leaning Tower of Pisa would have fallen over. It just goes to show that its never too late to take remedial action.
  • LondonBridge London Bridge
    When the bridge was completed in 1894 it was hailed as the most sophisticated "see saw" ever created. The vision and skill of the engineers and construction team was many decades ahead of its time.
  • GreatPyramidofGiza The Great Pyramid of Giza
    The Pyramids were built by the Egyptian Pharaoh Khufu who began planning the structure many years before his death. The result has stood for over 4500 years.
  • ArcdeTriomphe The Arc D'Triomphe
    The Arc d'Triomphe was designed in 1806 to be an enduring landmark in Paris. Two hundred years later it is one of the focal points of the city and serves to remind all of Napoleon's victories and the armies that fought in them.

Philanthropy at Axiom Wealth

In 2001, the Howard Government announced the creation of a new form of philanthropic structure, the Prescribed Private Fund (PPF). The then Prime Minister stated that “This measure will open up a new vehicle for private philanthropy ……. , so that families and individuals can donate to a trust of their own, which then disburses funds to a range of other gift-deductible recipients.” (Prime Minister’s Press Release 30 March 2001.)

Key features of PPFs included:

# tax deduction for donations;

# exemption from ongoing income tax; and

# no public fundraising requirement.

Between 2001 & 2008, almost eight hundred PPFs were established.

The Treasurer of the incoming Rudd Government announced in the 2008 Budget that the Government would legislate guidelines “to improve the integrity of PPFs and to provide trustees of PPFs with greater certainty as to their philanthropic obligations.” Subsequently, new legislation was introduced in October 2009 for what are now called Private Ancillary Funds (PAFs).

The major changes for PAFs (from PPFs) are:

# trustees must be corporations (existing individual trustees of PPFs  can continue);

# the Accumulation Plan is replaced by a 5% minimum distribution requirement;

# PAFs must have a formal Investment Plan;

# the annual audit must be of compliance with the Guidelines as well as the Financial Statements; and

# the Commissioner of Taxation has increased powers to tighten the compliance regime

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