Depending on the type of bequest, specific wording is recommended for clarity.
The following wording is recommended for different types of bequests:
Specific bequest
“I bequeath to Diabetes Victoria for its general purposes (or alternatively for a particular purpose, for example – diabetes research, diabetes education or for the benefit of children with diabetes) the sum of $ ________ (or alternatively describe the bequeathed item(s), for example – antique furniture) free of all duties and taxes including, if any, Capital Gains Tax and the receipt of the Secretary or other authorised officer of Diabetes Victoria for the time being shall be a complete and sufficient discharge for the executor(s).”
A percentage or fractional bequest
“I bequeath to Diabetes Victoria for its general purposes (or alternatively for a particular purpose, for example – diabetes research, diabetes education or for the benefit of children with diabetes),___%, (specify the percentage) of the value of my Estate, free of all duties and taxes including, if any, Capital Gains Tax and the receipt of the Secretary or other authorised officer of Diabetes Victoria for the time being shall be a complete and sufficient discharge for the executor(s).”
A residual bequest
“I bequeath to Diabetes Victoria for its general purposes (or alternatively for a particular purpose, for example – diabetes research, diabetes education or for the benefit of children with diabetes) the residue of my Estate, free of all duties and taxes including, if any, Capital Gains Tax and the receipt of the Secretary or other authorised officer of Diabetes Victoria for the time being shall be a complete and sufficient discharge for the executor(s).”
Tax Status
Diabetes Victoria has the following taxation status as detailed on the Australian Business Register:
Diabetes Victoria is a public benevolent institution for the purposes of the Income Tax Assessment Act 1997 and is endorsed to access the following charity tax concessions: Income Tax Exemption; GST Concession; FBT Exemption.
Diabetes Victoria is endorsed as a Deductible Gift Recipient (DGR) and is covered by Item I of the table in section 30-15 of the Income Tax Assessment Act 1997.
Corporate and contact details
Name: Diabetes Victoria
Australian Business Number (ABN): 71 005 239 510
Registered Office: 570 Elizabeth Street, Melbourne, VIC 3000
Helpline: 1300 437 386
Email: bequest@diabetesvic.org.au
Company Type: Australian Public Company
Company Class: Limited by Guarantee