• All private AFs that were formerly a PPF

    Attention

    Warning:

    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

    End of attention

    L If the fund was formerly a PPF did it choose not to apply the transitional distribution rules during the financial year?

    Attention

    If your fund was not formerly a PPF, you are not required to answer this question.

    End of attention

    A former private AF may choose to not apply the transitional distribution rules (that is, based on donations and income) and instead apply the distribution rules under private AF guideline 19 (that is, based on market value). That choice must be made within the financial year in which it changes its distribution method.

    Example

    If a fund wishes to adopt the new distribution rules in relation to the 2011-12 financial year, it must make the minimum distribution in accordance with guideline 19 during the 2011-12 year and make the choice not to apply this transitional rule before lodging its ancillary fund return 2012.

    Further Information

    For more information, refer to Private AF guidelines 53 and 54.

    End of further information
    Last modified: 28 Jun 2012QC 26101