PAF (Private Ancillary Fund) governance + minimum distributions
PAFs must distribute minimum 5% of net assets annually + comply with PAF Guidelines.
Who must comply
Trustees of PAFs.
What triggers it
Operating a PAF.
When due
Annual minimum distribution + annual reporting.
Evidence required
Distribution records; investment strategy; auditor's report; PAF Annual Return.
Max penalty
Loss of PAF status; DGR endorsement consequences; tax recovery
Summary
Private Ancillary Fund Guidelines 2009 (Treasury) administered by ATO + ACNC. PAFs must distribute minimum 5% of net assets annually (4% public ancillary funds). Director responsibilities + investment strategy + audit requirements.
Enforced by
Entity types
Topics
Source: https://ato.gov.au/non-profit/getting-started/in-detail/types-of-dgrs/ancillary-funds. Rules Mate is not a law firm. Always verify against the live regulator source before acting.