Productivity Commission to undertake inquiry into philanthropy
The Treasurer has requested that the Productivity Commission undertake an inquiry into philanthropic giving in Australia. The terms of reference provide that the inquiry will involve, among other things, an examination of the tax expenditure framework that applies to charities. The Commission has also been asked to advise on priority areas for reform to address barriers or harness opportunities to increase philanthropy, having regard to (amongst other things) the integrity of the taxation system.
The goal of the review is to boost charitable donations and achieve the government’s goal of doubling philanthropic giving by 2030. The final report should be provided in the first half of 2024.
National principles for charitable fundraising established
The Assistant Minister for Competition, Charities and Treasury has announced that the Commonwealth, State and Territory Treasurers have agreed to a set of national fundraising principles to streamline and harmonise State and Territory requirements regarding charitable fundraiser conduct. Regulatory guidance will be developed in collaboration with the charitable fundraising sector, with each participating jurisdiction to release an implementation plan by July 2023.