Philanthropy at Tax Time

Philanthropy and making tax deductible donations before the end of the financial year can bring immense benefits to both organisations and people. Not only can it help support important causes, but it can also bring tax incentives that make giving back even more rewarding.

So let's clear up the admin side of things, can a company or business make a donation? Absolutely. Just as individuals can claim donations as a tax deduction, businesses can claim gifts to charity – as long as it is a cash gift and the charity is a deductible gift recipient.?

In Australia, individuals who make tax deductible donations of $2 or more to registered charities can claim a deduction on their tax return. This can help reduce their taxable income, potentially leading to a higher tax refund or a lower tax bill.

And with tax time approaching, it's the perfect time to take advantage of this government-lead karma system and snag a fatter tax return as a result.

So where should individuals and organisations be looking to clear some surplus cash and then see it reflected in their tax outcome on the other side of the financial year??

Donating to a charity or organisation doesn’t have to stop at the transaction, the benefits can continue throughout the year through ongoing storytelling and exclusive opportunities for those that make donations.

In the context of the Adelaide Fringe foundation, donors are encouraged to be an ongoing part of the narrative, asking philanthropists and donors to help highlight the outcomes of the Adelaide Fringe Foundation, which keeps you on the good deed train year round and helps the Adelaide Fringe Foundation attract more amazing philanthropists like yourself.?

There are also quite often perks associated with a donation to an organisation or charity that can have a direct impact for the donor both socially and in business.?

For instance, depending on your level of donation to the Adelaide Fringe Foundation an individual can receive access to a series of exclusive events with other philanthropists at a similar donation level.?

This means you get to become part of the discussion around philanthropy within the sector and directly understand the impacts of your donation, as well as the collective fundraising efforts of the Adelaide Fringe Foundation.?

If you or your business are looking for a way to actively become involved in the community, community focused philanthropy is a great way to reach this goal.?

Philanthropy and making tax deductible donations before the end of the financial year can bring significant benefits to both organisations and individuals. Not only can it help support important causes, fulfil corporate social responsibility goals and build positive reputations, but it can also lead to tax savings and personal fulfilment. So, if you’re considering making a donation, there’s no better time than now to make a difference.

You can donate to the Adelaide Fringe Foundation here: https://adlfrin.ge/donate-today?