Home' Navy News : August 16th 2012 Contents Nominations for the 2nd Annual Defence
Excellence in Security Awards will be
These awards honour and celebrate outstanding achievements in
security by those working for Defence---ADF, APS and Industry.
Who can enter
submit a nomination.
Entry forms are available
Finalists will be invited to an official ceremony in Canberra in March
Department of Defence
Australian Securities and Investments Commission chair-
man Greg Medcraft urges caution when it comes to
donating to charity or crowd funding.
MAKING good decisions about
your money doesn't just involve
budgeting and investing. You can
help others by donating to a char-
ity or supporting a crowd-funding project.
But make sure you check exactly where
your money is going.
Donating to charity
With thousands of charities competing
for your donation, do some research to make
sure your money is being used for the cause
you want to support. It's important that you're
comfortable with the charity's activities.
You may decide to make a regular, set
donation or a one-off donation. You can
also donate your time and skills.
Be careful who you donate to. Find out
if a charity is legitimate by checking:
where the charity is based, e.g. the busi-
the person you are speaking to does
represent the charity. Call the charity to
that donations are tax deductible.
Donations to charities are only tax
deductible if the charity has been
endorsed by the Australian Taxation
Office as a deductible gift recipient
the corporate registration nu mber, such
as an Australian Business Number.
Find out about the latest charity scams
at the gover n ment's SCAMwatch website,
Crowd funding is used by artists and
entrepreneurs to fu nd their projects.
Money is usually raised online, with peo-
ple pooling their money towards a project.
put moneyPhoto: LAC Bill Solomou
There is no monetary reward for sup-
porting a crowd-funding project and spon-
sors are often enticed with a small gift such
as a signed CD, free T-shirt or a discount
on products in return for their support.
Most sites will have infor mation on the
project's aims and objectives, how it will
work and its budget.
If you want to participate, you will need
to nominate the amount you would like
to pledge and the account from which the
money will be deducted.
Once the project has reached its target
funding, you r pledge will be deducted from
your account. In most cases, only projects
that raise enough money can go ahead.
Most but not all sites retur n funds if the
target amount is not reached. Check the
refund policy on the crowd-funding site
before signing up.
If you've heard about a crowd-funding
project that you'd like to support, make su re
you check its legitimacy first.
You should also try to find out as much
as you can about the project and its ow ner
before you sponsor them. For example:
have they used crowd funding before?
have they been involved in successful
projects in the past?
did they deliver the gift, if one was
Donating to charity and contributing
money to a crowd-funding project can be a
great way of showing your support. Just be
careful someone isn't taking advantage of
your ge nerosity.
For more information about donating and crowd
funding go to ASIC's MoneySmart website, www.
Email ASIC at ADFcolumn@asic.gov.au with top-
ics that interest you.
August 16, 2012
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