Australians have become more generous in gifting to charities, especially since the COVID-19 pandemic. Charitable donations by local households rose 10 per cent in the 2023 financial year, according to the JBWere NAB Charitable Giving Index.

More wealthy families are starting to consider ways to best co-ordinate and manage their charitable endeavours. One way of doing this is to establish a family private or prescribed ancillary fund (PAF). These allow people to take advantage of tax benefits while having a positive impact on others’ lives.