Charitable Donations Could Drop Under Labor’s CGT Overhaul: Charity Groups

The testimony comes as Labor’s charity minister called on Australians to donate more to philanthropy.

Australian dollars coins in Melbourne, Australia, on April 4, 2024. AAP Image/Joel Carrett

Charities and philanthropic organisations could be caught up in the federal government’s plan to set a minimum 30 percent tax on capital gains and discretionary trusts, the Senate Economics Legislation Committee has heard.

Attended by senators and representatives from the Australian Tax Office (ATO) and Department of Treasury, the June 16 hearing fielded numerous questions over whether sufficient planning had gone into the government’s tax reforms.