Heritage Bank Charitable Foundation Sub-fund

Take the next step with your charitable giving by starting your Heritage Bank Charitable Foundation “Sub-fund”. A Sub-fund could be the perfect philanthropic platform for you to make a difference, both now and well into the future. We can help you create your legacy.

Your sub-fund
Your Sub-fund
By way of a tax deductible donation, you establish a Sub-fund within the Heritage Bank Charitable Foundation. Your Sub-fund is then invested as part of the entire fund, with the aim of producing income for annual donations to eligible charities of your request.  

A Sub-fund allows you the ability to support a wide range of initiatives. All charities supported must be Deductible Gift Recipients (DGR) and aligned with the People first focus of the Heritage Bank Charitable Foundation aimed at building and improving community wellbeing and life outcomes for people in Australia.

Example funding initiatives include:
  • Education
  • Health
  • Cultural
  • Social
  • Financial Wellbeing
Sub-funds can be created by individuals, families, companies and charities.  They can be established now or through a Will.

Your Sub-fund is your legacy.  We will meet with you annually to discuss your giving recommendations. You have the ability to support multiple charities and can easily change the causes or charities you support.

Your Sub-fund can remain anonymous or be acknowledged as the key funder of your Fund’s initiatives.  

How a sub-fund works

The Structure

Your Sub-fund is established within the Heritage Bank Charitable Foundation and is therefore governed by the same rules and regulations.

The Heritage Bank Charitable Foundation is set up as a Public Ancillary Fund. It is a philanthropic structure established by a trust deed for the purpose of making distributions to charities who are DGR under item 1 of the table in section 30-15 of the Income Tax Assessment Act 1997 (ITAA 97). The Foundation also has DGR status and can therefore accept tax deductible donations.

Each financial year, the Heritage Bank Charitable Foundation (including your Sub-fund) must distribute at least 4% of the market value of its net assets (as at the end of the previous financial year).

Why a Sub-fund?

Your Sub-fund provides a timely tax deduction, creating a structure that allows you to focus solely on your giving without the heavy administrative responsibilities of a Private Ancillary Fund. This removes the stress of having to worry about investment, trustee and compliance duties.

Partnering with the Heritage Bank Charitable Foundation
There are many potential benefits to using the Heritage Bank Charitable Foundation as the long-term structure to manage and allocate your continued contribution to growing stronger communities via a Sub-fund.


Your contribution can effectively continue in perpetuity creating an enduring legacy to remember and celebrate your involvement in making the world a better place. Further donations can be made at any time to strengthen your Sub-fund.


There are no set up or on-going fees associated with this service. Heritage Bank funds all operational costs of the Heritage Bank Charitable Foundation, ensuring all donations received, and investment income generated, is used to support our charity partners. 


To maximise your impact, the Heritage Bank Charitable Foundation will work with you to develop a robust funding selection criteria. We will also complete a thorough due diligence process on all prospective recipients and annually provide a report specifically for your Sub-fund.


You are not locked into funding the same initiative. You have the ability to change your funding recommendations annually and there is the ability to fund multiple initiatives over different funding periods.


The Heritage Bank Charitable Foundation manages all administration, investing, compliance and reporting.


The Heritage Bank Charitable Foundation is intrinsically linked to Heritage Bank, Australia’s largest customer-owned bank and one of the oldest financial institutions in the country. Heritage is based in Toowoomba, with origins that go back to 1875 with the formation of the Toowoomba Permanent Building Society. 

Get Started
To create your Sub-fund, the minimum donation amount is $20,000. In agreed circumstances this can be achieved by donating $5,000 per year over a four year period. Future donations over $2,000 can be made at any time to strengthen your Sub-fund.

Sub-funds allow you to structure and formalise your charitable giving in a flexible environment. Please contact us to discuss how a Sub-fund could work for you. Establishing your Sub-fund is simple and starts with completing the application form. All donations are tax deductible and all earnings are exempt from tax.

Contact us on 13 14 22  (option 0) or submit a quick enquiry online. We can provide you the application form to get started and answer any questions.

Things you should know

This information is general in nature and does not take into account your objectives, financial situation or needs.  You should consider obtaining independent legal, financial and taxation advice before making any decision. Information correct as at 23 April 2021 and could change without notice
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