Foundation Tax Matters

What are the tax implications of my bequest? It is a good idea to let your family know you have made a gift to the TSO Foundation in your will. It is suggested you discuss this with your legal and financial advisers.

What are the tax implications of a donation to the TSO Foundation? The TSO Foundation is a deductible gift recipient. Therefore, your donation is tax deductible. It is suggested you discuss this with your taxation adviser.

Can a bequest or donation to the TSO Foundation be anonymous? Yes, you can advise the TSO Foundation that your identity is to remain confidential.

Can I direct where my bequest to the TSO Foundation is to be spent? The Trust deed stipulates that only the income generated from your bequest can be distributed to the TSO each year. The Trust Deed does provide for a directed gift, with income to be so applied, provided the TSO Foundation directors and the TSO believe they can satisfy the obligations of a directed gift, both today and in the future.

Statutory information.

The Tasmanian Symphony Orchestra Foundation Limited, (ACN 131 401 440),  a company limited by Guarantee, is Trustee of the TSO Foundation Trust. The registered office is at 1 Davey Street Hobart 7000.

The TSO Foundation Trust, ABN 29 136 095 566, is a Public Ancillary Fund for taxation purposes.