VICDOC Winter 2022 - Magazine - Page 83
MINIMUM
CONTRIBUTION
$50,000 to $100,000 depending on the type of
sub account. Additional donations can be made
to each sub-account in future years, from any
source including the general public and those
unrelated to the original donor.
ESTABLISHMENT
TIME AND COST
Same day. Zero establishment costs. Ongoing
administration and investment costs are
between 1.4% and 2.2% of the sub fund’s value,
per annum, depending on the size / type.
CONTROL
Controlled by the fund’s co-Trustees. Manage
administration, investment, governance and
compliance.
INVESTMENT
STRATEGY
Assets are pooled and managed centrally by
Harper Bernays. Assets are managed in a taxexempt environment.
ANNUAL
DISTRIBUTION
TO CHARITY
Donors make distribution nominations to the
trustee. Usually at least 4% of the previous
financial year end’s net assets. Distributions
are restricted to ATO endorsed charities with
Deductible Gift Recipient Item 1 status (DGR 1).
LEGACY
A sub fund can continue beyond your lifetime,
with responsibilities handed over to family,
friends or the Trustees of the fund. Gifts to the
sub-fund can be made through your Will.
AMA VICTORIA CHARITABLE FOUNDATION
-
In future such donations can be made to the AMA Victoria Charitable Foundation,
AMA Victoria’s own philanthropic vehicle which is focused on supporting charities
in the areas of public health and medical research. Members can also continue to
support the Foundation directly with donations.
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