Presumably though no tax would be payable anyway...

the entity would not make a profit as surely the donations made to the entity could be argued to be capital in nature or if considered to be income then when paid to NCFC would be also a deductible expense for tax purposes therefore leaving no profit, the latter would obviously only work if the net effect each year was 0, which isn't ideal.

I may be wrong though.

OTBC

Posted By: SimonOTBC, Jan 24, 10:36:16