Remaking of sunsetting instrument without significant amendments – Department of the Treasury
On 16 September 2019, the Assistant Minister for Finance, Charities and Electoral Matters remade with only minor amendments the Private Ancillary Fund Guidelines 2009, which were due to sunset on 1 October 2019. The newly remade Taxation Administration (Private Ancillary Fund) Guidelines 2019 are scheduled to sunset on 1 October 2029.
The Guidelines set out the rules a private ancillary fund and its trustee must comply with in order for the fund to be endorsed, and remain endorsed, as a deductible gift recipient, as well as set minimum standards for the governance and conduct of private ancillary funds and their trustees.
Consistent with Government’s best practice regulation requirements for sunsetting instruments, the Treasury has, after consultation with stakeholders, assessed the instrument as operating effectively and efficiently. Therefore, a Regulation Impact Statement is not required for remaking this instrument.