Substantial gift definition
Substantial gift means a gift, the value of which exceeds $5,000.00 as a result of a single governing instrument or 2 or more related governing instruments.
Substantial gift means, but is not limited to, (i) goods or services that are given or offered to an employee and that have a fair market value of more than $100 (without regard to the cost to the donor); and (ii) a loan made on preferential terms. A Substantial Gift does not include business courtesies such as meals, entertainment and access to other events, to or from a third party, when the third party is present and circumstances surrounding such event have a clear business purpose, e.g., talking business over a meal or during an event sponsored and attended by a third party.
Substantial gift in relation to a company means making voluntary contributions to any charitable or other fund, other than a pension fund for the benefit of employees of the company or a related corporation, of any amounts which, in any financial year, will in the aggregate exceed P100,000, or two per cent of the net profits of the company for the last preceding financial year, whichever is the lesser.
More Definitions of Substantial gift
Substantial gift means a gift, donation, or other
Substantial gift means worth more than fifty dollars ($50.00) on an annual basis. “Substantial gift” does not include items received for expenses that would otherwise be reimbursable by the City government as legitimate business expenses.
Substantial gift means a gift, donation, or other consideration sufficient to