What is an ancillary fund?
The deductible gift recipient (DGR) category of ancillary fund covers funds with the following characteristics: • the fund is a public fund. • it is established and maintained under a will or instrument of trust. • it is allowed, by the terms of the will or instrument of trust, to invest gift money only in ways that an Australian law allows trustees to invest trust money. • it is established and maintained solely for: • the purpose of providing money, property or benefits to DGRs, or • the establishment of DGRs.
