Bequests Not Just for the Wealthy
14 July 2008 at 3:14 pm
It’s a common misconception that Australians with a very high disposable income are more likely to leave money to charity in a will, according to a new survey.
A survey of bequest donors by an umbrella organisation called Include a Charity reveals the majority of donations are provided by a rising number of regular Australians wanting to give something back to the community.
A breakdown of generosity in NSW reveals that the most generous suburbs are not necessarily the homes of the most affluent. The top 5 most generous suburbs were:
1. Castle Hill
2. Port Macquarie
Jennifer Doubell, representing Include a Charity – a bequest campaign developed by Mission Australia, Red Cross, Heart Foundation and Cancer Council says Australians are not motivated to leave a bequest based simply on their wealth.
Rather, she says the most likely donors are those who support or who have been supported by a charity during their lives.
Doubell says only about eight per cent of Australians currently include a charity in their Will.
Compared to the percentage of individuals donating in the UK, which decreased over the 2006/07 financial year, the percentage of Australians giving increased by 5.7%.
However, Australia still falls far behind the US when it comes to the amount given – Americans gave 2.2 per cent of a household’s after tax income, compared to just 0.33 per cent in Australia.
For more information on how to update your Will and include a charity, please call 1800 400 300 or visit www.includeacharity.com.au