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11 June 2026
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Here are 13 final reflections about wealth after 23 years working in the Australian philanthropy sector*:
It’s time for a frank discussion on philanthropy in Australia. Given the wealth created in Australia in recent decades, philanthropy leaders should be targeting a much bigger and much better philanthropic sector. I’m not seeing it. The status quo isn’t working, other than some magic in a few areas.
“It’s amazing what you can accomplish if you don’t care who gets the credit”. Harry Truman
Peter Winneke is a philanthropy adviser and consultant, and author of “Give While You Live: A practical guide to more & better giving in Australia”.
*This is an edited version of Peter’s 31.10.25 LinkedIn post, “23 reflections about wealth after 23 years in the philanthropy sector”.
A ‘Top 50 Givers List’. What a fantastic idea. Let’s do it.
Thanks Peter. I think the dearth of comments on your provocative points is telling. Looks like we have a challenge when we launch Generous You in 2026....
Philanthropy is paying 43% average income tax over a 40+ year professional career.
"6. We need to better tell the story of how a family foundation can be an extraordinary educational tool for the next generation. A foundation is a microcosm of a business. The kids can learn about governance, managing money, setting a mission, developing and implementing a strategy, measuring impact and the responsibility of wealth.":'Bunk of Dad&Mum'; Save 80%-90% of after tax after super income for about 4 years, investing sensibly, buy home at price matching savings, no mort-gage, go on to save 50%. Fail to save, pay market rent to 'Bank of Mum&Dad', fail to pay rent, get shoved out the door.
I’m on the board of a PAF- finding efficient charities is as much of challenge as managing the parasites accumulating FUM. I should know, I was one of them.
what is your thoughts on the metrics approach from EA entities like givewell and (I think) Singer's "life you can save" has somet rankings too. Sure EA took a major reputational hit due to SBF, but apparently the USAID disbanding has revitalized it somewhat. Your "efficient" metric may be different to theirs which I believe is not about admin overhead but impact to the planet/sentient beings.
Excellent article. Great work Peter. And great work James in finding it and promoting it. Some of the excellent points are: • #1 – very true, especially incorporating #2. Many people have more than enough wealth for themselves and for their kids.• # 8 – That is a huge amount of money and could do a lot of good.• #12 and #10 – a major goal or vision. Our wealth and intelligence could solve most/all issues, especially empowering social entrepreneurs.• #4 Top 50 Givers – a great idea. I cannot see a downside.
Peter,No mention people/business may donate but don't want it to be public information on a list.Realise give whilst live article but executed 2 Wills, charities sole beneficiary, neither made large donations to reduce income tax in lifetimes which in a way, is laudable. Probably many such whole of estates but done quietly after death so no figures publicly available of large gifts which came from after-tax income.I take it you mean your figure of $500bn is deductible as not further defined, some may question lack of income tax paid on $500bn over 20yrs, whether such deductions or part of should be allowed or if a business can afford high charitable donations to be called "philanthropic' then it can afford non - deductible gifting.
A big year for philanthropy has seen multiple tax changes impact the approach donors are taking. For those with the intention to give generously there is a third structure available in the structured giving landscape.
How have so many wealthy families through history managed to squander their fortunes? This looks at the lessons from these families and offers several solutions to making and keeping money over the long-term.
With impending Stage 3 tax cuts incentivising taxpayers to bring forward future tax deductions while tax rates are higher, it’s a good time to explore how to bolster your tax savings and community impact through structured giving.
Marketed as a fix for inequality and housing affordability, the latest budget instead delivers a tangle of tax changes that leave everyday Australians worse off.
Australia may not levy formal death duties, but a growing web of tax measures is quietly shaping what wealth passes between generations. Now, the 2026 budget adds another layer.
The lithium rally mirrors the early-2010s tech stock surge, with demand set to double by 2030. Supply has been slow to respond, creating a market deficit for future tech like humanoid robotics and solid-state batteries.
The debate over the budget is increasingly shaped by frustration and perceptions of unfairness, rather than clear-eyed assessment of policy outcomes.
Inflation doesn’t just raise today’s bills - it quietly increases the amount needed to retire, while simultaneously making it harder to save. Three steps to take before June 30th to improve retirement outcomes.
Inheritance tax implications in Australia may surprise some, as poor estate planning without proper wills or trusts can lead to costly tax bills and delays for beneficiaries.
New CGT rules could tip the scales in the super vs non-super debate. For those facing the Division 296 tax, the case for withdrawing has gotten more complex. A "comparison rate" tool may help assess decisions.
Proposed Budget changes to taxation are casting new uncertainty over testamentary trusts, prompting closer scrutiny of estate planning structures and the real implications of reforms still taking shape.
Examining how five "tax cuts" stack up against bracket creep. Why offsets and incremental changes may do little to ease rising average tax burdens, compared to structural reform through indexation over time.
Quality strategies shine globally, but Australia's concentrated market tells a different story. Limited diversification and sector dominance can constrain the defensive outcomes investors have seen in broader markets.
As private markets expand, investors face a growing mix of structures, a stabilising private equity cycle and uneven AI disruption. Fresh questions are being raised about where the real opportunities now sit.
As EOFY approaches, structured giving offers a tax-effective way to support charities, while allowing donations to grow over time and play a longer-term role in family wealth and legacy planning outcomes.
Stock picking often gets the spotlight, but research shows asset allocation explains the vast majority of long‑term returns. Understanding your mix of growth and defensive assets is the real key to investment success.