PRODUCTIVITY COMMISSION FINAL REPORT ON PHILANTHROPIC GIVING
The Albanese Labor Government has released the Productivity Commission's once-in-a-generation review of philanthropic giving. The review aims to boost donations to charities to help achieve the Government’s target of doubling philanthropic giving by 2030.
Philanthropic giving underpins the crucial efforts of charities, not-for-profit organisations and community groups to support vulnerable Australians and better connect Australian communities.
The Albanese Labor Government is working to boost the capacity and capability of our expert charity sector by boosting the flow of resources through smarter more effective giving. The Productivity Commission’s report will inform future steps in reaching that goal.
The Productivity Commission has recommended reforms to strengthen the foundations of philanthropy in Australia and increase giving.
The report has made nine significant findings, including that the value of tax-deductible donations by individuals is increasing but fewer people are donating and that a sound regulatory framework, with greater transparency and consistency, is important for supporting donor confidence.
The review included a thorough consultation with more than 3,000 submissions and comments. Two weeks of public hearings were held in February, featuring representation from more than 50 interest groups including Commonwealth, state and territory governments, the philanthropic, not‑for‑profit and business sectors and the general public.
The report sets out a range of proposals for short- and long-term reform. The Government will now consider the recommendations to ensure our next steps are the best possible moves towards our goal of doubling giving.
While the Government considers its response to the inquiry, the recommended changes to tax settings for donations to school building funds are not being considered.
A world-class education system is essential to tackling inequality, driving economic growth and supporting well-paid, secure jobs and our school system is a key part of it.
The Commission has made 19 final recommendations, focusing on four main areas:
- improving the system that determines which charities have access to tax-deductible donations
- improving access to philanthropic networks for Aboriginal and Torres Strait Islander people
- enhancing the regulatory framework for charities and ancillary funds, and
- improving public information on charities and donations.
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