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A lasting gift tohelp save and improve lives. Gifts in willsA message from the Board Chair, Monash Health Monash Health and our predecessor organisations were built on a basis ofphilanthropy. Today,
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A lasting gift refers to a donation or contribution that provides enduring benefits or value, often in the form of assets, properties, or significant monetary gifts intended for a specific cause or individual.
Individuals or entities that make significant gifts, usually surpassing a certain monetary threshold established by tax regulations, are required to file a lasting gift report.
To fill out a lasting gift report, one must provide details about the donor, recipient, description of the gift, its value, and any relevant tax identification numbers or supporting documents.
The purpose of a lasting gift is to document significant transfers of wealth or assets to ensure compliance with tax laws, support charitable activities, or fulfill personal intentions regarding distribution of an estate.
The report must include the donor's and recipient's names and addresses, the date of the gift, a detailed description of the asset, its fair market value at the time of the transfer, and any conditions attached to the gift.
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