Suburbs where the inheritance pot tops $3M
As featured in the Australian Financial Review, families in Australia’s top suburbs for inheritances will hand down more than $3.3 million on average from one generation to the next, with children in Sydney’s harbourside regions edging those in Melbourne’s Toorak as set to gain the most from their parents.
An estimated $2.6 Trillion will be passed over in the 20 years to 2040, and if just 5 to 10 per cent was captured for charity, it would direct $130 to $260 billion into the sector.
The Australian Government has a goal to double philanthropic giving by 2030, and Philanthropy Australia has make a submission to a Productivity Commission inquiry into how this could be achieved.
Professor Kristy Muir (CEO Centre for Social Impact), John McLeod (Senior Research Consultant JBWere Philanthropic Services and Philanthropy Australia board member), Strive Philanthropy Founder Jarrod Miles and Kristi Mansfield (CEO and Co-Founder Seer Data & Analytics) explored data’s role in reshaping giving in the philanthropic sector for a post-pandemic world in the ‘Philanthropy Australia Podcast’.