Philanthropic giving in the last few years has been under valued in Australia because of a disproportionate focus on tax structures and increased regulation on charitable vehicles such as private ancillary funds.
Andrew Thomas, general manager - philanthropy at Perpetual Private said he believes that while many philanthropists are reticent about publicity, some recognition would encourage even greater level of generosity.
Australia currently sits third in terms of giving as a proportion of GDP (0.69%), behind the US (1.67%) and the UK (0.73%).
The public treatment of private philanthropy is topical, with Britain's Chancellor of the Exchequer George Osborne using his budget speech in March to argue tax breaks to wealthy donors were overly generous and unfair.
Osborne's argument is the cost of the exemption is borne by the rest of the population in the form of higher taxes.
Britain is not alone in re-assessing incentives with the Obama administration also questioning revenue impact amid moves to limit the amount of giving that can be deducted from taxable income.
For Australia, currently in the throes of charitable sector reform, Thomas says additional red tape will be counterintuitive and that legislative changes miss the point of why people give - predominately for personal reasons.
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