The wealthiest most exclusive private schools in Queensland are raking in millions of dollars in donations and investment income. These millions are ignored in assessing the need for government funding. It exposes a major flaw in how private schools are funded. The flaw means the schools are massively over-funded by the taxpayer. Funding of private schools must be overhauled.
New figures obtained from the Australian Charities and Not-for-profits Commission (ACNC) show that 23 Queensland private schools received $118 million in donations and investment income over five years from 2017 to 2021 (see table below). Donations totalled $84 million and investment income was $34 million. Just nine schools received $83 million over the period. The average income from these sources for the 23 schools was $5 million per school over the five years.
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