Bequest/ Planned gift: a gift provided for by a donor during his or her own lifetime, the principle benefit of which is not available to the organisation until some future date – often at the time of the donor’s death, or at the end of a specified term. Cash gift: gifts of money, including foreign currency. The money may be paid in various ways, including by cash, cheque, credit card or electronically. In Australia the gift to a Deductible Gift Recipient must be AUD$2 or more. Cultural gift: gifts of culturally significant property (except property that is an estate or interest in land or in a building or part of a building). In Australia, cultural gifts are made under the Cultural Gifts Program administered by the Department of the Environment, Water, Heritage and the Arts (DEWHA) with the advice of the Committee on Taxation Incentives for the Arts. In Australia this gift type does not cover testamentary gifts made under a will. Designated gift: a gift which a donor has given specific directions on the purpose for which the gift is to be used. Endowment: an investment fund in which the capital is preserved and annual expenditure is restricted to all or a portion of the income from the investment, such that the activity or project funded may be supported in perpetuity. Gifts may also be invested with instructions that the capital may be spent, but such investments would not normally be called endowments. Gift: any transfer of money or property to the University made voluntarily by way of benefaction where no material benefit is received by the donor. The money or property must be owned in full by the University once received. Grants received by the University may be considered gifts if they comply with this definition. Sponsorships are not considered gifts, as they normally confer material benefit on the sponsor. Because Monash University is an endorsed Deductible Gift Recipient in Australia, most gifts made to the University of AUD$2 or more are allowable deductions for income tax payers in Australia. Reference should be made to the Australian Taxation Office Gift Pack (or country specific tax authority) for further details. Pledge: a pledge is an expression of intent to give a gift in the future. Pledges may be fulfilled as once-off payments or in instalments over a finite period of time. Property: As well as physical things, property includes rights and interests that are capable of ownership and have a value. This gift type does not cover testamentary gifts, that is, gifts made under a will. Recurring gift: a gift committed by the donor to be given at regular intervals (eg monthly, annually) for an indefinite period of time. Shares ≤ $5,000: must meet four conditions to be tax deductible in Australia:
• the shares were acquired in a listed public company
• when the shares were gifted, they were listed for quotation on the official list of an Australian stock exchange
• the shares were acquired at least 12 months before they were gifted, and
• the market value of the shares was $5,000 or less on the day they were gifted. Trading Stock: in Australia this refers to the trading stock of a business, but only if two conditions are met:
• the gift is a disposal of the trading stock outside the ordinary course of the donor’s business, and
• if the gift involves the forced disposal or death of livestock - no income tax election has been made to spread or defer the profit. For this gift type, it is not necessary for the trading stock to have been purchased during the 12 months before the gift was made. Undesignated gift: a gift for which the donor has made no clearly indicated designation as to the method or purpose of expenditure is deemed an unrestricted gift. This term may also be applied to gifts designated to general support of the University. | 
