Published Date: 26 Aug 2024
In July 2024, the Productivity Commission released its final report on the future of charitable giving. As there are around 60,000 charities in Australia and approximately 25,000 of these are eligible for tax donations, this report is both timely and important. In addition, Australians donate over $13b to charities every year. The report identifies several areas of concern with the current system. These are huge roadblocks for organisations that are uniquely placed to do public good. It makes recommendations that include determining donation status using a principles approach that balances government support with the unique skills and networking abilities that charities offer.
It also recommends that some organisations are no longer eligible for tax deductible donations even though they should remain as charities. The overall recommendations would increase the number of eligible charities in Australia to around 40,000.
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