DONATIONS RISE AS END OF FINANCIAL YEAR APPROACHES
7 June 2013,
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.