GreaterGood, Canberra's public charitable foundation, provides people with the facility to create their own tax effective charitable funds.
Through GreaterGood, you can start your own named charitable fund, with ease and at low cost, to produce perpetual income for your charitable causes.
The Capital Region Community Foundation (GreaterGood) is Canberra and Region's only public charitable foundation, established by the Public Trustee and Guardian.
GreaterGood is not a charity, however we are a charitable fund, and our aim is to "Link Good People with Good Causes". We do this by making it possible for you to establish your own charitable foundations in a low-cost, tax-effective manner under the umbrella of GreaterGood.
You can name your charitable fund, recommend the deductible charities to benefit, receive an immediate tax deduction and see your charities benefit from the income generated perpetually.
The Capital Region Community Foundation (GreaterGood) is Canberra and Region's only public charitable foundation, established by the Public Trustee and Guardian. GreaterGood currently has in excess of $20 million in 85 individual funds which have yielded approximately $8.9million in distributions.
Unlike other charitable foundations, GreaterGood preserves and invests capital donations to produce a permanent income for the benefit and support of nominated charitable causes.
Our Trustee invests donations through common funds and distributions of income are made annually to the recommended charities.
Benefits of GreaterGood
- The Best Facility: GreaterGood provides the best facility for everyday people to pursue their personal charitable aims joining other philanthropists with ongoing funds.
- The Right Patron: GreaterGood is proud of its patron, Lady Helen Deane. Lady Deane is local, qualified, committed and takes an active role in GreaterGood activities.
- The Right Trustee: How can you beat the security and professionalism of the Public Trustee and Guardian? PTG provides permanence, economy of scale, infrastructure, audit, governance, accounting, reporting and investing sustained by professional officers with appropriate skills all under one roof.
- The Right Board: Fully compliant with the requirements of the Income Tax Assessment Act 1997, GreaterGood has assembled a board comprising a cross-section of persons with positions of responsibility in the community.
- Peace of Mind: The assurance that your wishes will be complied with.
- The Right Beneficiaries: Beneficiaries are recommended by GreaterGood account holders and include worthy charities and charitable projects delivering valued services not only focused upon the region but also looking further afield, nationally and internationally.
Unlike most other charitable foundations, there are no establishment or ongoing administrative costs with GreaterGood. All of the contributed capital goes to work immediately earning cost-free, passive income for charity.
Citizens with good charitable intentions can derive sound taxation benefits through the GreaterGood foundation.
As an Australian citizen we are expected to contribute to the general welfare of the community and this is achieved through taxes. However, when we donate directly to a recognised charity, the government allows this as an income tax deduction. This gives us some control over the direction in which our welfare tax dollars are spent.
You can achieve this tax benefit under GreaterGood, regardless of your means, through a number of ways:
- By establishing a named charitable fund under GreaterGood
- By pledging a regular deduction from your pay to a recognised Workplace Giving fund in GreaterGood
Whether paid as income tax to the Australian Taxation Office, or as a one-off donation direct to your favourite charity the money disappears from view. You can however retain sight of your compounding generosity, through a family charitable fund within GreaterGood. You can name your charitable fund, recommend the deductible charities to benefit, receive an immediate tax deduction and see your charities benefit from the income generated forever.
Named charitable funds are now highly popular in Australia and, in GreaterGood, your community now has a locally-based foundation to help you realise your charitable intentions.
You can settle capital amounts or assets (from as little as $20,000) into a named family fund under GreaterGood. This is an irrevocable gift that will generate income to benefit your charities into the future.
You can receive an immediate tax deduction for the year of donation or spread the deduction up to five tax years. You can watch the family fund grow with added contributions over the years and bring in additional charities.
A named family fund under GreaterGood is simple and cost effective. GreaterGood provides you with record keeping, investment facility, tax deductibility, annual auditing and board governance.
You can determine your desired degree of recognition, have involvement with the donation of annual income to the charities or alternatively enjoy complete confidentiality. Once established, you can make further contributions during your life or under your Will.