Goods & Services Tax – GST
- Funding provided by the Foundation is made as an unconditional gift (as defined in the Goods & Services Act 1985) or donation.
- No portion of this funding is claimed by the Foundation as a deduction for GST paid.
- Where an applicant organisation is registered for GST, the funds granted will be exclusive of any GST (as GST is not a real cost to such organisations).
Payment of Grants
- Payment of all successful applications is made by direct credit to the applicant bank account.
- Payment will normally take place within 10 working days of the Net Proceeds Meeting.