Opportunity to grow giving in Australia

Contextually, Australia is one of the wealthiest nations globally and we certainly consider ourselves to be a generous people, so it isn't surprising that that we rank fourth in the World Giving Index, which looks at various measures of generosity, including time, acts of service and financial donations. However, we are still well behind our peers when it comes to our philanthropic giving (0.81% of GDP, compared to 0.96% in the UK, 1.84% in New Zealand and 2.1% in the United States)*. Currently in Australia only just over 50% of people who earn over $1m annually claim a tax-deductible donation. In the United States, 90% of those in the same income bracket claim a tax-deductible donation, which suggests we have some work to do to grow and normalise the culture of giving in this country. 

Benefits of giving

Evidence suggests that attitudes towards giving are established early on in life, with cultural and peer influences strongly shaping these behaviours. Giving circles and other similar charitable structures are a great solution in growing giving in Australia and bringing young people on that journey. Other than the tax benefits of giving, it simply makes you feel good to give, it also helps you connect to your community and peers, which all benefits the for-purpose sector and the wider Australian community.

Alignment to the Blueprint

This initiative is strongly aligned to Philanthropy Australia's goal to double structured giving in Australia by 2030 and to create a more generous and giving Australia. Read Philanthropy Australia's Blueprint to Grow Structured Giving in Australia report.