The ancillary fund guidelines have been revised to enable deductible gift recipients to receive increased distributions to assist them navigate the challenging effects of COVID-19.
Covid-19 extensions allow ancillary funds to exceed their minimum annual distribution rate above five percentage points in the financial period 2019-2020 and 2020-2021 allowing them a lower minimum distribution rate in future years. This is to facilitate increased availability of funding to the DGR destinations of distribution from public or private ancillary funds.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
