Families in Australia’s top suburbs for inheritances will hand down more than $3.3 million on average from one generation to the next. The top postcodes were revealed in a bid to encourage more charitable giving by making it easier to donate super. ...
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 mum and dad.shows the 10 postcodes in each state and territory with the households set to bequeath the largest sums this decade.
Backed by the likes of the Ramsay and Myer foundations, Philanthropy Australia proposes allowing people to make what is known as a binding death nomination to direct a proportion of their unspent retirement savings to charity. Former insurance executive Stephen Meates, 65, plans to leave $550,000 to Taronga Zoo Foundation and says having a simple process for donating through super would encourage more giving.Without such an option, he will use his will to direct about 15 per cent of his estate to the foundation.
“It could be one of those questions which you could [answer] in your super: ‘who do you want your money to go to, when you die?’ It’ll be just one of those questions that they add in,” he said.
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