GFC impact on giving
Published on 01 July 2011
Allan Williams, Chair of the new local philanthropic initiative, Hands Across Canberra, welcomes the latest report from Queensland University of Technology’s Australian Centre for Philanthropy and Nonprofit Studies (ACPNS), which analyses the statistics on tax-deductible donations made by Australians in their individual 2008-2009 income tax returns to Deductible Gift Recipients.
“The report analyses tax returns in 2008-09 and shows that Canberrans were still very generous during challenging financial times. In 2008-09, we had the highest percentage of donating taxpayers to total taxpayers (47.16% compared to the national average of 37.83%). Over 105,000 individual ACT taxpayers made and claimed over $49.93 million, with an average tax deductible donation of $471 compared to the national average of $450.
“However, on the whole, the report shows that for the first time on record, giving went down across the nation and the size of gifts were smaller, so there is no room for complacency,” Allan said.
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