Yahoo Finance Unusual reason the Govt is giving every Aussie $1
Australians will receive regular reminders to give to charity through a new initiative from the Royal Australian Mint and the Government as charities face an 18 per cent reduction in donations.
The ‘donation dollar’ is a green and gold $1 coin that is designed to act as a reminder to give a little, where possible, Assistant Treasurer Michael Sukkar said.
“Australians are renowned for their generosity and lending a hand to those in need,” Sukkar said.
“The Mint’s new Donation Dollar is designed to be an easy and accessible way for Australians to enjoy the benefit of giving small amounts more frequently.”
Donation dollars are intended to be donated every time they’re found in spare change, although they can also be used as currency.
“The Donation Dollar can be spent like any other $1 coin, but when donated makes an on-going impact on the lives of Australian's in need.”
One coin will be minted for each Australian, totalling 25 million donation reminders, Sukkar said, noting research from JBWere finding Covid-19 could push charitable giving down 18 per cent over the next two year.
The Royal Australian Mint estimates that if all Australians donated one a month, an additional $300 million would be raised for charity every year.
The gold ripple design symbolises the benefits of giving, and is the first Australian $1 coin to use another colour than gold, with 3.5 million already minted.
“This year we know there are many Australians doing it tough in the face of the COVID-19 pandemic, and Australia’s 57,000 charities and not-for-profits have not been immune to these economic challenges,” Assistant Finance Minister Zed Seselja said.
“While we continue to face the challenge of Covid-19 pandemic together, the Donation Dollar is a long-term idea we hope continues to provide a simple reminder to Australians that if you are in a position to donate it, please do so.”
Charities and fundraisers can now register to become involved with the program.
