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Final report of philanthropy inquiry released

The Australian Government has tabled the final report of the Productivity Commission’s inquiry into philanthropy in Australia: Future foundations for giving.

The report makes several recommendations to strengthen the foundations of philanthropy, supporting the Government’s goal of doubling giving by 2030. These include an overhaul of the Deductible Gift Recipient (DGR) system, which determines the charities that are eligible to receive tax-deductible donations.

It is expected that the recommended changes would increase the number of charities that can receive tax deductible donations from about 25,000 charities to around 30,000 to 40,000 charities. There were many other recommendations including introducing enhanced disclosure and reporting of corporate giving, enhancing information published by the Australian Charities and Not-for-profits Commission, improving public information on ancillary funds and minimising unnecessary regulatory barriers to volunteering.
Giving in the workplace is an overwhelmingly positive and valuable element for workers, the community, charities supported and corporate Australia.  The purpose of Workplace Giving Australia is to promote giving in the workplace in all its forms including volunteering and gifting. There is power in bringing together the over 13.8 million Australians in the workforce, 45,000 large and medium corporations, over two million small businesses, and a large number of Not-for-Profit and Government employers, to create valuable communities to support and fund charities and causes. 

The combined strength of the workers within their place of employment is meaningful. Bringing people together in their natural communities, including through work, is an effective means to drive volunteering, combat loneliness and isolation, re-spark community caring and optimise charitable giving. It is also a tool that promotes productivity and social resilience.

Workplace Giving Australia made submissions to the Productivity Commission relating to workplace giving, which are available to read here.

To discover more about how to make giving a part of everyday life get in touch with an expert today.