L If the fund was formerly a PPF did it choose not to apply the transitional distribution rules during the financial year?
If your fund was not formerly a PPF, you are not required to answer this question.
End of attentionA former private AF may choose to not apply the transitional distribution rules (that is, based on donations and income) and instead apply the distribution rules under private AF guideline 19 (that is, based on market value). That choice must be made within the financial year in which it changes its distribution method.
Example
If a fund wishes to adopt the new distribution rules in relation to the 2011-12 financial year, it must make the minimum distribution in accordance with guideline 19 during the 2011-12 year and make the choice not to apply this transitional rule before lodging its ancillary fund return 2012.
For more information, refer to Private AF guidelines 53 and 54.
End of further information