Malcolm Turnbull ‘Donates Entire $500K Salary To Charity'

The PM has been accused by Labor of being motivated by personal greed in his bill to lower corporate tax rates.

Malcolm Turnbull donates slightly more than his $528,000 prime ministerial salary to charity, it has been revealed, amid accusations his company tax cuts are fed by personal greed.

Turnbull has come under recent attack from Labor by way of a television ad that lists the Prime Minister’s financial record, drawing links between his bill to lower corporate tax rates and his investment in firms that would benefit.

But the Daily Telegraph on Tuesday reported the Prime Minister in fact donates about $550,000 -- slightly more than his almost $528,000 salary -- to charity through the Turnbull Foundation.

Malcolm Turnbull reportedly donates slightly more than his salary to charity. Image: AAP

Turnbull is understood to have made donations to The Sydney Children’s Hospital, the Wayside Chapel and the Tribal Warrior Aboriginal Corporation in Redfern among other services and charities.

It comes after the Prime Minister on Monday fired back at the Opposition over its blunt attacks, saying it had “turned its back on everything it stood for."

“They want to attack me for having a quid. They want to attack me and Lucy for working hard, investing, having a go, making money, paying tax -- plenty of tax,” he said.

"(Labor) used to be a party that supported aspiration, people getting ahead, people aspiring to build business ... if you make a buck, pay your tax, all that. Luce and I have done that all our lives. Absolutely all our lives. Now they want to attack that."

The Labor Party has released a television add that targets the personal windfall Malcolm Turnbull. Image: AAP

The Turnbulls have long been known for their wealth and commitment to philanthropy. Back in 2013-14, the Turnbull Foundation, set up in 2001, gave $780,000 to local charities, schools, universities and the arts.

Turnbull must declare his investments and interests as a member of Parliament in Australia.

But as journalist Leigh Sales posed during an interview with the Prime Minister back in 2015, “how can Malcolm understand what it is to struggle for anything because he’s had everything he’s ever wanted?"

Turnbull replied, “the important thing is to have the emotional intelligence and the empathy and the imagination that enables you to walk in somebody else’s shoes.”