The Rinehart, Medich and Lowy families are among those shielding the activity of their family’s charitable foundations from the public eye.
Some 850, or nearly 40 per cent, of Australia’s 2200 private ancillary funds – which have cost taxpayers a collective $7 billion over the past two decades – disclose no information to the public about their activities or finances.
An earlier version of this story incorrectly included Australian Philanthropic Services Foundation in the private ancillary fund database. It has been removed as the foundation is a public ancillary fund.