Hi team: I'm very cautious about the suggestion that we use a vehicle such as an incorporated society and/ or a charitable trust to fund the restoration of a) the memorial arch and fence and b) the remainder of the fence in front of houses with entrances on Alva and Hight Streets.
My caution comes from changes to the requirements for Incorporated societies in recent years and also the tightening up of what is a 'genuine charitable cause', meaning the provision of a good that benefits or could benefit most people in the community.
I'm attaching the amendments made at the AGM of one of my professional bodies that was formed as an Incorporated Society more than 20 years ago. These amendments were suggested by the IRD and make it clear that individuals cannot benefit from the funds of the Society. As fences are attached to properties that increase in value and benefit their owners, its my belief that this would be a bar we could not cross.
I will also bring a column from last weeks 'sharp as Tax' column in the ODT around Charitable Trusts to the meeting, which further underscores these changes. I'm convinced that in the interim, we need to find a way to finance the fences on High and Alva street ( part b) ourselves. While this affects everyone but the D Units with entrances off the common, I believe we all have to share these costs.
See you tomorrow
Regards,
Marianne
Marianne Quinn
Level 3, 115 Stuart Street, Dunedin
P.O. Box 20, Dunedin 9054
ph +6434773115 or 0211612050