According to Perpetual General Manager of Philanthropy Andrew Thomas, Australians are giving more.
"Giving by Australians is increasing at a significant rate. The total amount donated and claimed as tax-deductible donations in the 2007/08 financial year was $2.35 billion—a steep rise from the $600 million they were giving 10 years earlier," Mr Thomas said.
“An analysis of tax deductible giving in the 2007/08 period revealed that 35 per cent of Australians that had lodged a tax return, made a donation. The average amount was $523.10—an increase of 19 per cent on the prior year.
“However, the greatest increase in giving was by those who earned the most. Sixty-three per cent of people who have a taxable income greater than $1 million made charitable donations. While it would be nice if the other 30 per cent chose to give, it’s promising to see that these donors’ average annual gift more than doubled in comparison to the tax year before—from $48 548 to $102 543.
“So why are people giving more? Generally, there is greater awareness of their ability to assist others. In addition, non-profit organisations are getting better at building a relationship with donors and asking for more money, more often.
“Importantly, our wealth is increasing and the opportunity to create tax-effective giving structures—either in our lifetime or via their estate—is also leading more people to establish charitable trusts. For non-profit organisations these trusts provide a sustainable income stream—providing certainty and continuity to their endeavours.”