Westpac offers shareholders the opportunity to donate a portion or all of their Westpac dividends to our Charitable Foundations. If the donation is over $2 it may be tax deductible for Australian taxpayers and the dividend 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?
Single shareholdings less than $50,000 or portfolio holdings managed by Link less than $1,000,000 - commence or change your Dividend Donation Plan percentage online via Link's Investor Centre
If your holding falls outside these parameters - please complete the and return it to the address indicated, or contact Link Market Services.
How does the Dividend Donation Plan operate?
Shareholders nominate a percentage of their Westpac dividends to the Dividend Donation Plan. 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 80 cents per share, and a holding of 1000 shares, 5% would represent a donation of $40: (Calculated as $0.80 x 1000 x 5% = $40)
- The remainder of the dividend, $760, 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.