RAISING GOOD EGGS: HOW FAMILIES BUILD LEGACIES THROUGH GIVING

Australians are generous people. Each year we donate more than $14 billion to charities across the country - a testament to the deep spirit of care and community that runs through our nation. Because giving strengthens society, the Government recognises this generosity by allowing most charitable donations to be tax deductible. Charitable donations, historically, rise as people age. Part of this is practical - through bequests or gifts to organisations that have made a difference in their lives or their families’ lives. But an increasingly common theme is emerging - families are starting to donate sooner in their lives, especially as a lesson to children to encourage donation. 

When families involve their children in conversations about where to donate, when they encourage them to learn about different causes and understand their impact, it builds a lasting bond between the family and the communities they support. Learning to give, and to be compassionate, is an important lesson that creates a ripple effect of kindness that stretches far and wide. The matriarch of a well-known Australian family once explained this to me - a families’ responsibility is to teach children to give, and to be involved in the places that they donate. As she, roughly, put it to me: 

“How can we give a 25 or 27-year-old $30 million and tell them to enjoy their lives? Where does that lead them? Far better that we have taught them to give some of the income of that money away … and to be involved. Their lives will be much more worthwhile.” 

The lesson is a powerful reminder that generosity and compassion are gifts that enrich not just the lives of recipients, but also of those who give - no matter their circumstances. Among the many incredible organisations Australians support, Humpty’s work in delivering lifesaving medical equipment to sick children across Australia is both vital and inspiring. It’s a charity whose mission is easy to understand, and whose impact is felt deeply by countless families. And so to the rules of charitable giving - there are four conditions your donation must meet to be tax deductible.

1. The organisation you donate to must have status as a Deductible Gift Recipient (DGR). The Humpty Dumpty Foundation has DGR 1 status.
2. It must truly be a gift or donation – that is, you are voluntarily transferring money or property without receiving, or expecting to receive, any material benefit or advantage in return. A material benefit is something that has a monetary value.
3. The donation must be money or property – this can include financial assets such as shares.
4. It must comply with any relevant gift conditions – for some DGRs, the income tax law adds conditions affecting the types of deductible gifts they can receive.

We know times are tough for many families, and every household is feeling the pinch of rising living costs. But if you’re in a position to give, your generosity makes a genuine difference. So don’t be shy. Find a cause that speaks to your heart. Learn about the incredible work ofcharities like Humpty. And if you can, experience the joy of giving - knowing that your gift, no matter the size, helps build a stronger, kinder Australia.