CA ANZ and CPA Australia have lodged a joint submission on the Productivity Commission's Philanthropy Inquiry. The purpose of the inquiry is to understand trends in philanthropic giving in Australia, the underlying drivers of these trends, and to identify opportunities and obstacles to increasing such giving. The objective of the inquiry is to increase or “double” philanthropic giving by 2030.

The key points in our submission are:

• Limiting the scope of the inquiry to just one of the many of the pillars that support the NFP sector (philanthropic giving) is a missed opportunity to truly understand and modernise the Australian NFP sector.
• The lack of data on not just philanthropic giving, but on several other aspects of the sector, remains a significant concern.
• Any increase in philanthropic giving should not impact other sources of revenue, including government funding.
• The government should provide the necessary support to facilitate investment in technology and other capability-building activities that are essential for the sector to operate effectively and efficiently.
• There is scope for further streamlining of the tax system as it applies to the NFP sector.
• More refinement is still needed to further reduce red tape - a common Australian regulator for all NFPs should remain the government’s focus and fulfilling this vision should remain a medium to long-term goal.