December 08th, 2014
In 2012-13, donations, bequests and legacies from Australian households totalled about $4 billion, while donations from businesses amounted to more than $850 million, according to the Australian Bureau of Statistics.
Philanthropy Australia estimates Australians give slightly less than their counterparts in Britain or Canada and significantly less than those in the US. “We’re at a tipping point, but we still need to inspire more Australians to give,” Philanthropy Australia chief executive Louise Walsh says. “In 2011-12, 37 per cent of individuals with a taxable income above $1 million did not claim a single tax-deductible gift. I find that staggering.”
By Peter Wilmoth (Financial Standard)
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