Suggested Wording for Will
I give Australian Dollars $.......… to Hadassah Charity Limited (Hadassah Australia) ABN 63 612 863 064 as a gift and the receipt of a duly authorised officer of Hadassah Australia shall be sufficient discharge for my Executors.
I bequeath <<_____ percent of my residual Estate/ the sum of AUD$_____ (choose one alternative)>> to Hadassah Charity Limited (Hadassah Australia) ABN 63 612 863 064.
I declare that the receipt of the secretary, trustee or other officer of Hadassah Charity Limited (Hadassah Australia) is sufficient release for the executors of the Estate.
Registered Name: Hadassah Charity Ltd
ABN: 63 612 863 064
Postal Address: PO Box 2400, Caulfield, Vic 3161
Incorporated as a public company limited by guarantee on 17 June 2016.
Endorsed as an income tax exempt charitable entity under Subdivison 50-B of the Income Tax Assessment Act 1997. Endorsed as a deductible gift recipient under Subdivision 30-BA of the Income Tax Assessment Act 1997.
Maximising Your Client’s Bequest
With some extra thought in estate planning, your client’s gift to Hadassah Australia can be made in a more tax-effective way, creating the potential for a larger charitable bequest or a greater amount leftover for other beneficiaries:
Hadassah Australia (ABN 63 612 863 064) is endorsed as a deductible gift recipient (DGR) and is fully tax exempt.
Capital Gains Tax and In Specie Transfer of Assets such as Shares
Hadassah Australia is exempt from capital gains tax (CGT). This means that assets subject to CGT such as investment properties or shares which are transferred to Hadassah Australia ‘in specie’ will not be subject to tax on the capital gains.