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Taxation Benefits

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.