With the end of the financial year approaching, now is the perfect time to be strategic about your giving. By understanding how to claim and maximise tax-deductible donations, you can turn your generosity into impact – while also making the most of valuable tax benefits.
Here are 10 smart ways to supercharge your giving this end of financial year.
1. Donate before June 30 to claim your tax deduction
To be eligible for a tax deduction this financial year, your donation must be made before midnight on June 30. The donation must also be $2 or more, made to an organisation with Deductible Gift Recipient (DGR) status, and you must not receive anything in return (like raffle tickets or event entry). Set a reminder so you don’t miss the deadline.
2. Check the charity’s Deductible Gift Recipient status
Only donations to registered DGR organisations are tax-deductible. You can verify an organisation’s status by searching the ABN Lookup. This simple step ensures your generosity counts at tax time.
3. Bundle donations to maximise deductions
If you expect a higher taxable income this year, consider making a larger donation now to reduce your tax bill. Alternatively, you can spread deductions over up to five years if you anticipate higher income in future years.
4. Feeling rushed? Consider a donor-advised fund
A donor-advised fund like a Named Fund at Australian Communities Foundation allows you to donate now, claim your deduction this year, and distribute funds over time. This provides immediate tax benefits while allowing you to support charities at your own pace.
5. Keep your donation receipts organised
With the Australian Tax Office requiring receipts for all donations, people often track donations in a spreadsheet or file away email receipts in a folder. When you give through a Named Fund at Australian Communities Foundation, all your donations are recorded in your online Fund Portal, making it simple to track your giving and claim your deductions in your tax return.
6. Set up recurring donations for next year’s tax savings
Looking ahead, regular giving is not only helpful for charities but also makes tax time easier. Consider monthly donations to spread your giving across the year while preparing for next year’s deductions.
7. Contribute through workplace giving
Many employers offer workplace giving programs, allowing you to donate pre-tax directly from your salary. This means immediate tax benefits without needing to claim deductions in your tax return.
8. Donate through your business
If you run a company, trust, or sole trader business, you may be able to claim a tax deduction for donations made to charities with DGR status. Just ensure the donation is a genuine gift – not a sponsorship or payment with benefits in return. Speak to your accountant about the best way to structure business giving and explore options like setting up a Corporate Fund.
9. Speak to your advisor about your giving goals
If you work with an accountant, financial planner or wealth advisor, talk to them about your giving plans. They may be able to help you structure your giving for maximum tax benefit and ensure your philanthropy aligns with your broader financial goals and values.
10. Supercharge your giving with a Named Fund
Want to make a bigger impact? You can claim and maximise your tax-deductible donations with a Named Fund at Australian Communities Foundation. Establishing a Named Fund enables you to:
✅ Claim an immediate tax deduction
✅ Give strategically over time to multiple charities
✅ Grow your charitable assets through tax-free ethical investment returns
✅ Develop your giving with expert support, plus all admin and compliance covered
✅ Involve your family and pass on shared values across generations
✅ Build a lasting legacy that can support communities for years to come
✅ Connect with Australia’s largest community of everyday philanthropists through events and learning opportunities
Contact us to get started
Maximise your tax-deductible donations this EOFY
➜ Set up in just 48 hours with no establishment fees
➜ Begin with a single donation, starting from $10,000 through to major gifts – or start smaller with a Gumnut Account
➜ One simple management fee covers everything – from admin and compliance to granting and investment management
Finally, a reminder: The above is not tax, legal, or financial advice. We recommend speaking to your accountant, lawyer, or financial advisor for specific advice for your situation.