Westpac offers shareholders the opportunity to donate a portion or all of their Westpac dividends to our Charitable Foundations. All donations over $2 are tax deductible for Australian taxpayers and the Dividend Payment Statement acts as the tax receipt.
Shareholders who donate via the Plan support the work of the Westpac Community Trust for the Family of Giving, which comprises four Westpac-affiliated charitable funds, all working together to support our communities:
How to donate?
Shareholdings less than $50,000 - commence or change your DDP percentage online via Link's Investor Centre
Shareholdings greater than $50,000 - please complete the and return it to the address indicated, or contact Link Market Services.
How does the DDP operate?
Shareholders nominate a percentage of their Westpac dividends to the DDP. If a shareholder also participates in the Dividend Reinvestment Plan (DRP), the donation amount is deducted before any participation in the DRP. For example:
- If you decide to donate 5% of each dividend, based upon a dividend of 90 cents, 5% would represent a donation of 5 cents per share: (Calculated as $0.90 x 5% = 4.5 cents, which would round up to 5 cents per share x the number of shares held.)
- The remainder of the dividend, 85 cents per share, would then be reinvested through the DRP
- Those who donate 100% of each dividend will continue to receive any Australian franking credits and New Zealand imputation credits on the donated Westpac dividend value.
Please note: donations provided under the Family of Giving initiative are administered by Westpac Community Trust (ABN 53 265 036 982) and will be distributed after receiving recommendations from each member of the Family of Giving.