Tips for End Of Financial Year charitable donations

With the end of the financial year upon us, it’s worth taking the time now to consider ways to reduce your tax bill come June 30.

Aside from collating receipts, filling out your car's logbook, and wondering whether you should pay your health insurance a year in advance, a simple - and rewarding way - to reduce your tax this year is to make a donation to charity. 

So, which charity you ask? No doubt you have now been bombarded by now by not-for-profits across the country who want to take advantage of lucrative EOFY giving. But rather than spending time pondering who should get your money, why not consider creating a donation portfolio - where you can give to a number of different charities that you might be motivated by - or passionate about - and receive ONE tax-deductible receipt at the end of it. 

"SOUNDS LIKE A HASSLE!"

Not so fast.

We asked some of our users to create their donation portfolios through mycause so we could test how long it took. The answer - 10 minutes!

"It took me 10 minutes to give to 5 charities and get 1 fully tax deductible receipt at the end - too easy". 

"I CAN'T PICK ONE CHARITY LET ALONE A FEW..."

We have more than 4000 Australian charities listed on our website so choosing a few is not so hard. 

Maybe you want to theme your portfolio giving? Are you passionate about dogs? Or motivated by cancer research and patient care? What about children's charities? You can theme your portfolio and choose a number of charities that fit your theme or you can completely diversify it and give to a range of not-for-profits - spreading the love around. 

"SO HOW DO I GET STARTED?"

Go to https://www.mycause.com.au/portfolio-giving and start a "Portfolio Giving" or "Regular Giving" service. 

Portfolio Giving works likes a share portfolio where you choose any number of charities to give to at an amount and frequency you determine. You can give once (say now at EOFY time) or regularly - you choose. 

Regular Giving allows the donor to pick one charity to give to and how much to give. It is then automated to be debited every month.

THE BEST BIT...

All donations are collated onto ONE tax deductible receipt!