SDIA applies for ShareGift AML/CTF exemption Back |
 SDIA applies for ShareGift AML/CTF exemption
ShareGift Australia is a registered charity which provides a facility for people to sell shares and donate the proceeds to charity at no cost. It is particularly aimed at holders of small parcels of shares that may be otherwise uneconomic to sell. Proceeds of sale are donated to charity, and the donor receives a tax deduction.
ShareGift relies on brokers to execute the sales pro-bono. ASX has also agreed to rebate trading and settlement fees.
In May, on behalf of members, SDIA made application to AUSTRAC for exemption from the normal AML/CTF client identity rules that would normally apply to these transactions. If successful, it is hoped that more brokers will be encouraged to join the scheme and assist this worthwhile charity in its work.
SDIA submissions are available to Members on our website: www.sdia.org.au
|
|
|