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Charitable Trusts
Charitable trusts are trusts set up to hold money or assets and carry out activities for the benefit of the community. They may be formed for the purpose of:
- the promotion of education
- the relief of poverty
- the promotion of religion
- other purposes of benefit to the community
A charitable trust gains tax concessions from the IRD. These tax breaks include the absence of gift duty on gifts to the trust and the absence of tax on income earned by the trust.
At Mackay Bailey Butchard we know the practicalities of charitable trusts. Our experience in this area enables us to assist you in both setting up the trust and in using the trust to most effectively reach your charitable goals.