Punya Foundation receives charitable status
Punya Foundatin has obtained charitable status in Australia, the organisation said Tuesday.
‘The Punya Foundation is now registered as a Public Benevolent Institution with Australian Charities and Not-for-profit Commission,’ it said. It also gained Australian Taxation Office endorsement as deductible gift recipient, which means any donations made to Punya Foundation now will be tax deductable.
Additionally, it has now income tax exemption, Goods and Service Tax (GST) concession, and Fringe Benefit Tax (FBT) exemption.
Based in South Australia, Punya Foundation has been supporting children in Nepal and Bhutanese refugee camps for higher education.