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The financial benefit of giving without expecting back by Jay Daniel
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The financial benefit of giving without expecting back |
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Non-Profit Organizations
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Ancient yogis to modern philosophers have said that we can only attain true happiness by giving to others without expecting anything back. If you cannot be of service to someone else with your time or your skills, you can always help someone out if you donate to charity in Australia. In the spirit of paying it forward, if you have more money than you need to cover all your basic costs, why not set some aside to make life easier (and sometimes - make life possible) for someone who isn’t in the position where they can earn a salary. By unconditionally donating to a charity, you will definitely influence someone’s life for the better, regardless of the fact that you might never get to meet that person.
Australians are a very giving nation. Recent polls show that over 4.6 million Australians donated some money to charitable organizations in the last year, where 67% of businesses supported a non-profit organization (NPO) of their choice financially. Donating is simple: you choose a charity or NPO, make the donation and receive the receipt. The receipt is important, as charity donations in Australia are tax deductible. Donors should just check that the organization they are giving to is, in fact, a Deductible Gift Recipient. For more information about tax deductibility of donations, including the criteria of a charity tax deduction and what amount qualifies as a tax deductible donation, you can look at the official website for the Australian Tax Organization.
The most difficult part when deciding to donate to charity in Australia is choosing where your money should go. The most popular field for charities is for helping children in need. Whether it is children who have suffered abuse, children who are in need of an education or children who are orphaned, there are lists upon lists of charities to choose from. Children are innocent and defenceless, and by enabling charities to enable them, you can give them a better life. Other charities like animal/bird charities are also popular, as well as charities helping with community services or helping people with disabilities. Many private Universities are dependent on donations from individuals or organizations, and often times the alma mater of a tertiary institute will show their loyalty by giving yearly donations.
If you find yourself in a favourable financial situation and you are driven by the desire to help someone, start doing your research. Find a charity that speaks to you, that supports something you feel passionate about and delve into their mission. For charities and NPOs, every donation helps, regardless of how small or big it is.
Related Articles -
charity, tax, deduction,
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