How to give: 2-minute online tool lets you explore giving options before EOFY

Philanthropy Australia is launching a simple online tool for professional advisers, their clients and individual donors to explore the best structured giving vehicle for their needs and preferences. Ahead of this busy time in the taxation and financial calendars, it’s an ideal opportunity to explore pathways to philanthropy and support charitable organisations making a difference in local communities and beyond.

Try the Structured Giving Tool.

For both clients and financial advisers, including philanthropy in an advice toolkit has many advantages. Knowing how to open a conversation about giving supports the adviser in providing holistic, values-based advice that has a greater chance of resonating with clients’ own beliefs and concerns or areas of interest. Being able to offer sound guidance about giving also builds deeper, long-lasting relationships with clients and is a meaningful way to help maintain relationships across generations.

Professional advisers are busy and philanthropy can be complex, so Philanthropy Australia has made this tool as accessible as possible. It consists of multiple-choice questions and typically takes 2-10 minutes. Once complete, it recommends giving options to consider and further explore.

The tool can also easily be utilised by individual donors who would like to learn about the possibility and benefits of structured giving.

Sandy Wong, Private Client Adviser, Equity Trustees, says: “I would encourage all professionals and those interested in giving to use this concise tool, which takes less than two minutes. As a financial adviser, this has allowed me to understand the different methods of giving and also opened up an awareness that my clients do NOT need a large lump sum to begin their giving journey.

“Having this knowledge has helped me greatly in my client discussions and I am able to assist my clients to achieve their philanthropic goals.”

As the end of the financial year approaches and new income tax rate cuts roll out from 1 July 2024, now is an especially favourable time for advisers to start a conversation with clients about structured giving options.

Sabil Chowdhury, Adviser and Partner, Koda Capital, says: “Philanthropy Australia’s Structured Giving Tool is a simple and valuable tool for philanthropic clients (and their advisers) for receiving practical guidance about the type of structure to consider for philanthropic giving, aligned to the client’s purpose and intent.”

Philanthropy Australia is working with the sector on a bold plan to double structured giving in Australia by 2030. This would provide an additional $2.5 billion for Australians in greatest need.

Professional advisers play a key role in achieving this goal by helping their clients start their giving journey.

Try the Structured Giving Tool.

Philanthropy Australia offers a range of other resources to assist professional advisers:

The CPD accredited Professional Adviser Guide to Giving provides more detail about:

• Why and when your clients give
• How your clients give
• Direct giving
• Structured giving
• Roles and responsibilities of Trustees

Our 3-4 min animated videos provide a step-by-step guide to starting a conversation about philanthropy and explain the different types of giving vehicles that may be appropriate.

• Why should you talk to your clients about philanthropy?
• Each of the most common structured giving vehicles in Australia explained
• The adviser’s role – setting up and managing philanthropic structures and corpus/fund investments

Philanthropy Australia’s extensive Guide to Giving contains downloadable and printable worksheets for clients and individuals to help them clarify their giving goals:

• Motivations – Why give?
• Assets – What do you have to give?
• What to give to?
• Who to give to?
• Engaging your family
• Structured giving vehicles

Professional advisers do not have to be a ‘one-stop shop’. If a client would like to establish a structured giving vehicle, there are specialist philanthropic services, listed in our online register, that can work with advisers to assist with this process.

There are additional resources available for members only. To learn more or to enquire about membership please visit our member information page or contact our membership services team at [email protected].