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In wealthy Australia, philanthropy is the biggest loser

August 19th, 2015

Australia has experienced record growth rates and its population is wealthier than ever, but philanthropic giving is now lower than it was 30 years ago.

Taxpayers are giving an amount equivalent to only 0.57% of GDP, compared to their counterparts in the US, who give 2% of GDP each year, the 2015 Koda Capital Australian Giving Review found.

The proportion of Australians claiming a gift or donation is stagnant and remains below the level it reached in 1985-1986. In fact, taxpayers are only giving 0.32% of their taxable income.

 Read the full article - Financial Standard

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