For solicitors and executors
However, we are extremely conscious of the need to respect the wishes expressed in the terms of the Will – if the Will specifies an area of research to support, this will be upheld. If you have any questions about the scope of our work, and whether it matches the terms of the Will, please get in touch through our contact form below.
Bequests should be mailed to the Garvan Research Foundation, 384 Victoria Street, Darlinghurst 2010, or transferred by direct deposit. Please call us on 02 9295 8110 for our bank account details.
Please be aware of the following legal points
These may significantly enhance your client’s bequest.
Deductible Gift Recipient Status
The Garvan Institute of Medical Research (ABN 62 330 391 937) holds Deductible Gift Recipient (DGR) Status Item 1 and is fully Tax Exempt. As the Fundraising and Marketing division of the Garvan Institute, the Garvan Research Foundation (ABN 91 042 722 738) also holds Deductible Gift Recipient (DGR) Status Item 2 and is fully Tax Exempt.
Capital Gains Tax on estate assets & transfer of shares ‘in specie’
As Garvan Institute of Medical Research is fully Tax Exempt, the transfer of all Capital Gains Tax assets such as real estate or shares to Garvan will result in significantly reduced tax liability, rather than pre-selling those assets by executors and transferring the sale proceeds.
Superannuation is not automatically directed through a person’s Will. If you wish to assign your client’s superannuation to Garvan, the super balance will need to be left to their estate, in which case it will be dealt with as determined in the Will.