November 05th, 2014
Australian Taxation Office figures show the average tax deductible donation in 2011/12 was $494.25, with just over a third of taxpayers claiming a gift deduction.
Which of course means just under two thirds didn't. Almost 62 per cent of those with a taxable income over $1 million claimed average tax deductible donations of $49,678 (1.4 per cent of their taxable income) - so 38 per cent of the millionaires didn't claim a deduction.
Philanthropy Australia chief executive Louise Walsh describes that figure as appalling. Ms Walsh cites the United Kingdom example, where about five years ago the government cut its funding to the non-profit sector across the board, and by up to 25 per cent.
Charity organisations were forced to become more strategic, to start taking philanthropy more seriously, to get the their boards more engaged. "We're not saying we're in a drastic position like that here, but you only have to look at the last (federal) budget to know that it's not a growth industry," Ms Walsh says
By Greg Rule (The Australian, 05.11.2014)
Read full article
The Australian Government has announced a review of the Australian Charities and Not-for-profits Commission (ACNC) legislation.
Advocacy & Insight Manager, Krystian Seibert, outlines Philanthropy Australia's engagement with the review.
Sign up for a free edition of our weekly newsletter to have sector news, views and resources delivered straight to your inbox.