Australia's charitable sector could receive double the support by the end of the decade as Labor promises to work with philanthropic organisations if elected.
It's a commitment philanthropic organisations say will transform Australia.
Labor will direct the Treasury to collaborate with the philanthropic, for-purpose and business sectors and set a strategic direction for Australian philanthropy.
A proposed Treasury-led process would chart key issues, opportunities and obstacles to create initiatives which would double philanthropic giving by 2030, Labor says.
Philanthropy Australia head Jack Heath says doubling the amount given will see billions of new dollars flowing into the charitable sector.
"The double giving by 2030 goal is bold but achievable," he said.
"With $1.1 trillion set to pass between generations by 2030, we have an unprecedented opportunity to draw on Australia's rising wealth to provide more support for people in greatest need."
Labor MP Andrew Leigh says philanthropy is not about donors stepping up so that government can step back.
"Philanthropic organisations should be working in partnership with political leaders to find new and creative solutions to the challenge of building a better society," he said.
"This boost to our national culture of giving back would bring charitable donations as a share of GDP into line with countries like New Zealand."
