You must have Credits on your Balance to download this sample
Pages 10 (2510 words)
Gifts which are intended to be for the benefit of mankind as distinct from for the benefit of individuals are characterised as charities. However, such gifts may or may not be regarded as charities depending upon the status of the recipient of the gift. Any gift which is given to charity is treated as having been given to charity as a whole…
There are many advantages being enjoyed by organisations having a charitable status, including fiscal advantages like exemption from payment of Income Tax, Inheritance Tax, Capital Gains Tax, Stamp Duty, VAT and Certain Local Taxes; of course all of these subject to the fulfilment of certain terms and conditions. Most of the rules regarding the administration of charities are now to be found in the Charities Act 1993 as amended by the Charities Act 2006. This paper intends to make an analysis of the gifts and donations made by one Ivor Fortune to certain charitable purposes through his will as to the validity of the gifts being of charitable nature based on the purposes and the proposed recipients before and after the enactment of the Charities Act 2006, which has made various amendments in this regard.
Until the enactment of Charities Act 2006, the preamble to the Charitable Uses Act 1601 (the Statute of Elizabeth) which established that certain purposes were to be construed as charitable, remained the source of the modern definition of charity. For any trust to be charitable it must be within the "spirit and intendment" of the statute. (Morice v. Bishop of Durham (1805) 9 Ves 399)
"schools of learning, free schools and scholars in universities"; "the education and preferment of orphans" and "the s ...
Not exactly what you need?