Foodbank adds $20,000
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THE 2004 Foodbank Charity Golf Classic, produced by Ernst & Young has raised almost $20,000 for Foodbank WA.
The event, held at the Lake Karrinyup Country Club on March 26 boasted some of Australia’s top sporting identities.
PGA Tour professionals included Wayne Grady, Wayne Smith, Nick O’Hern, Brett Rumford, Jarrod Moseley, David Watson and two leading amateurs Michael Sim and Rick Kulacz.
Other sports and media celebrities supporting the event were Kim Hughes, Rechelle Hawkes, Bill Kirby, Chris Mainwaring, David Sierakowski, Andrew Vlahov, Scott Fisher and Len Findlay.
In all there were 15 corporate teams, each including a sporting identity.
Some of the teams playing on the day included Alinta, ANZ, Qantas, Howard Park Wines, Vodafone and Drummond Golf.
ANZ proved triumphant on the day.
The media team, which included Ernst & Young’s Brian Leedman and WA Business News’ Mark Beyer finished last.
However, the most important part of most corporate golf days centres around the 19th hole and this was no exception.
The post event dinner included an auction. Items going under the hammer included a Tiger Woods autographed Nike driver, autographed golf bags and framed shirts including a 2004 Eagles guernsey signed by the whole team.
The money raised from last year’s inaugural event enabled Foodbank to purchase a new air-conditioned transport truck.
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School fees treatment explained
THE Australian Tax Office has issued three new tax determinations explaining the tax treatment of prepayments of school fees.
Tax determination TD 2004/5 deals with the issue of whether the parent is responsible for payment of school fees assessable on a discount arising from a prepayment of the fees.
Tax determination TD 2004/6 handles the question of whether a school’s tax exempt status is disturbed if it permits prepayment of school fees or offers discounts for prepayments of fees.
Tax determination TD 2004/7 deals with whether a prepayment of school fees can be a deductible gift to a school-building fund.