As the Federal Budget looms, there are five key actions the Government can take to boost corporate social responsibility and charitable donations in Australia.
Charities play an incredibly important role in our economy. According to latest research, they contribute over $55 billion to the GDP each year, have $176 billion in assets, and employ a million Australians with a further five million involved in a voluntary capacity.
Along with the economic footprint, the charity sector is fundamentally committed to public benefit. They build our productivity, our cultural and spiritual expressions, and they’re there in the good times and the bad.
As government revenue stalls against a backdrop of increasing community demand, the outlook for the charity and not-for-profit sector is concerning. Reducing barriers to donating and enhancing regulatory stability are important steps to leverage new sources of donations and charitable funds.