A Planned and Professional Approach to Charitable Giving
Sharing your wealth to make a difference can be enormously rewarding, but many Australians take an ad-hoc approach to their giving, making it difficult to see the impact of their generosity.
There are several options for providing financial support to a charity of your choice. You could consider:
- Donating money directly to a charity,
- Setting up your own private ancillary fund,
- Joining a public ancillary fund, or
- Leaving a bequest in your will.
Ancillary funds are a simple and effective way to help you make the most of your giving. Public Ancillary Funds and Private Ancillary Funds are the two types of foundations in Australia that facilitate immediate income tax deductions for individuals while supporting the charities of their choice over many years.
The Providence Philanthropic Foundation is a public ancillary fund, the trustee for which is Providence Wealth Pty Limited, a wholly owned subsidiary of Providence Wealth Advisory Group Pty Ltd.
Introducing the Providence Philanthropic Foundation
We have established the Providence Philanthropic Foundation to facilitate planned and professional charitable giving. We welcome both existing clients and new clients to join us on our endeavour towards sustainable support for charities.
Philanthropy can be a wonderful opportunity for all generations within a family group to collaborate on building their legacy.
As part of our commitment to the beneficiaries our aim is to run the Foundation with an efficiency that enables at least 50% of fees to be rebated back into the Foundation and our expectation is that we will be able to rebate an increasing proportion of fees as the Foundation grows.