DONATIONS RISE AS END OF FINANCIAL YEAR APPROACHES

DONATIONS RISE AS END OF FINANCIAL YEAR APPROACHES

AS the end of the financial year looms, charities are predicting a spike in tax-deductible donations.

Australians donated almost $250,000 on June 30 last year and more than $1.8 million in the five days leading to the end of the financial year.

More than $6 million has been donated to international aid agency Oxfam Australia on the last day of the financial year over the past decade.

In response, Oxfam has launched a personal tax calculator that allows people to work out how much of their tax-deductible donation they could receive back in their tax return.

Chief financial officer Anthony Alexander says the trend of giving has not slowed, despite cost of living pressures.

“We’ve seen donations remain stable over the past five years, which shows how committed Australians are to making a difference,” says Alexander.

“Our figures show that by donating regularly to Oxfam, Australians continue their generosity towards some of the world’s poorest communities.

Over 10 years the average donation made on June 30 was $463, and almost $21 million was donated during the last 10 days of the past 10 financial years.

Three quarters of all Oxfam fundraising income is spent on life-saving program work overseas and in Australia.

Enjoyed this article?

Don't miss out on the knowledge and insights to be gained from our daily news and features.

Subscribe today to unlock unlimited access to in-depth business coverage, expert analysis, and exclusive content across all devices.

Support independent journalism and stay informed with stories that matter to you.

Subscribe now and get 50% off your first year!

Four time-saving tips for automating your investment portfolio
Partner Content
In today's fast-paced investment landscape, time is a valuable commodity. Fortunately, w...
Etoro
Advertisement

Related Stories

Golden handshakes to departing ASX100 CEOs hit 12-year high

Golden handshakes to departing ASX100 CEOs hit 12-year high

Around one in every six CEOs of ASX100 companies left their job&nbs...

Maggie Beer Holdings CEO Kinda Grange resigns just 16 months into the job

Maggie Beer Holdings CEO Kinda Grange resigns just 16 months into the job

The revolving door of leadership at Maggie Beer Holdings (ASX: MBH)...

Dreamworld owner reports improved ticket sales despite severe peak season storms

Dreamworld owner reports improved ticket sales despite severe peak season storms

The owner of Gold Coast theme parks Dreamworld and WhiteWater World...

Peter Farrelly's action comedy Balls Up starring Mark Wahlberg to be filmed in QLD

Peter Farrelly's action comedy Balls Up starring Mark Wahlberg to be filmed in QLD

The Australian film industry continues to attract Hollywood product...