How do you think government and philanthropy can best work together in a modern democracy? I think the biggest thing we can help with by working with government is trying to break down silos. Governments try and do the best they can. One of them is the First Thousand Days and I have pushed for that from the very beginning. The other pillar is focused on the financial vehicles and what they might look like to help people. The announcement last year came very much on the back of that.
So, to have the opportunity to actually put the cash in was really exciting for us. Your daughter, Grace, is actively involved in social change through her work to end modern slavery. Did you try and steer any of your children along a philanthropic path or have you left it open for them to navigate their own way? Grace has really driven it, she is the founding director of Walk Free. I love the way Grace thinks, she comes up with all these entrepreneurial ideas.
And I must say, my daughter Grace is also remarkable at storytelling. Anyone would think it was the immaculate conception! I think you start where you mean to finish and then you come backwards and work out what you need to do along the way.
If we take modern slavery for example, every year we publish the Global Slavery Index, terrifyingly, the numbers are bigger but it demonstrates that our understanding of this issue is improving. If you can measure all the steps it took to get there, then it can be scaled up. A lot of our work, I think, is advocacy. We have trouble with that word… [laughs].
What would you rather be known as? Or do you accept the term 'philanthropist' reluctantly? Look, I accept it. It just sometimes seems exclusive, when in fact anyone can be a philanthropist in whatever way is accessible to them — time, talent or treasure.
When we first started supporting Telethon , we were doing it anonymously, and we asked them to say, 'An anonymous donor will match every dollar given before midnight', and the phones went crazy. What will it be that warms your heart at the end of the day? If we see government departments working together in a holistic way around children and families I think it will transform Australia and our productivity.
So yes, I like to start at the beginning with the children. Read more about the work of the Minderoo Foundation. Nicola Forrest at the opening of the Forrest Hall research and accommodation facility in Perth. Image credit: UWA. Credit: State Government of Western Australia.
Philanthropy Australia acknowledges the Australian Aboriginal and Torres Strait Islander peoples as the first inhabitants of the nation and the Traditional Custodians of the lands where we live, learn and work. Darrian Traynor. Mr Hagger's experiences at the Hayne inquiry and his work with different charities in Australia and overseas over several decades worked in his favour when the Forrest family came to choose a CEO with the help of an international head hunter.
He said with the prospect of the Minderoo Foundation "clicking over to a round number it would need an executive with an intimate understanding of philanthrophy and of business. Mr Forrest said he wants to grow the Minderoo investment portfolio to include more market-driven solutions to world scale problems, such as over fishing of the oceans.
Mr Hagger, who was travelling in South America with Not for Sale, said in a statement: "I am thrilled to have been given the honour of leading the Minderoo team at this key time in its history. Skip to navigation Skip to content Skip to footer Help using this website - Accessibility statement. Companies Waste Print article. Tony Boyd Columnist. Jan 8, — Tony Boyd is the Chanticleer columnist.
He has more than 35 years' experience as a finance journalist. Connect with Tony on Twitter. Email Tony at tony. License article. Read More Waste.
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Fiona Lake blog. Farm Weekly. Western Australia. Archived from the original on 5 October The Australian. Sunday Times. University of Western Australia. Mines and Money. Archived from the original on 7 September Twiggy: The high-stakes life of Andrew Forrest. Melbourne: Black Inc. The Monthly. Faces of hate: hate crime in Australia. Sydney: Federation Press. The Sydney Morning Herald. Poseidon Nickel Limited.
September Retrieved 13 May Brisbane Times. Blake Dawson. Archived from the original on 22 July Retrieved 5 April Carter Newell. Archived from the original on 25 April University of New South Wales. ABC News. Retrieved 2 October The Age. WA Today. News Limited. Retrieved 2 May The West Australian.
Retrieved 26 April Australian Broadcasting Corporation. Retrieved 9 July Archived from the original on 16 December BRW Interactive chart. Archived from the original on 28 June Retrieved 29 June Business Spectator. Retrieved 5 June Retrieved 24 November Archived from the original on 4 October Retrieved 2 June Archived from the original on 8 June Retrieved 23 May Retrieved 18 July Retrieved 13 June June Retrieved 25 May Retrieved 7 June The Giving Pledge.
February Retrieved 23 June Australian Indigenous Education Foundation. Archived from the original on 3 September Retrieved 7 September Generation One. The Sunday Telegraph. The Centre for Social Impact. Archived from the original on 6 April Campus Daily. Retrieved 6 December Australian Policy Online. Four Corners. ABC TV. Archived from the original transcript on 27 November Retrieved 11 December Archived from the original streaming audio on 11 April Australia: ABC Radio.
NITV News. Retrieved 30 October Archived from the original on 1 November The Conversation. The Haleian. November Archived from the original on 18 January CEO Sleep Out. Archived from the original on 6 February Retrieved 14 October Pro Bono Australia. The Guardian. Archived from the original on 27 February Retrieved 24 March You'll find it easier to buy shares in your name or through an insurance bond.
Credit: Shakespeare. The regulations are far reaching and "unearned" income includes interest on gifts from grandparents and even family allowance. The position is further complicated because most fund managers refuse to accept direct applications from minors because of possible legal ramifications. For example, if a child invested in a share trust and the units in that trust fell in a market crash the child could argue that he or she did not have the understanding necessary to participate in this investment and ask for a refund.
Also, while stockbrokers are generally prepared to buy shares in the names of children, the articles of some companies expressly prohibit ownership by people under Banks are happy to open accounts for children but then they are happy to take money from anybody, particularly when they can pay minimal, or even nil, interest and decimate the balance by fees.
Let's look at them individually. This is the most common strategy, but most people have no idea of the possible consequences of doing it. It does not get you around the punitive children's tax rates because the trustee will be assessed at 66 per cent and there is a major difficulty in that the parent must at all times act as a bona fide trustee and not intermingle trust money with their own.
For example, in a leading tax case a couple accumulated a substantial sum in a trustee bank account and then withdrew it to buy a unit for the use of their children while they were at university. The parents decided to put the unit in their own name and not the children's name — the Tax Office successfully claimed the money was, in fact, the parents' money and assessed them for five years' back interest.
A better strategy in most cases is to invest in the name of the lowest-earning parent. It also reduces the possibility of the Tax Office disputing the ownership because parents are free to give money to their children whenever they wish. The only disadvantage is that capital gains tax will apply if the parent transfers the asset to the child at a later date. Insurance bonds are one of the simplest and most tax-effective investments available. All you have to do is make an investment into the bond and sit back and watch it grow.
Then, after you have owned the bond for 10 years, you can withdraw all or part of the proceeds free of tax. However, there is no obligation to withdraw your money and you can leave it in the low tax bond area for as long as you wish. In many ways, investment bonds are like superannuation.
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