In a move that recognises philanthropists in the most egalitarian way, five of Australia’s most generous individuals will be honoured on postage stamps.

The Australian Broadcasting Commission (ABC) reports that the stamps will be released for Australia Day, 26th January , and will acknowledge Dame Elizabeth Murdoch, Victor and Loti Smorgon, Lady Mary Fairfax and Frank Lowy; officially recognising them for their lifetime contributions to areas such as the arts, sport and medical research.

An Australia Post spokesman told the ABC that each person was carefully selected for the Australian Legends of Philanthropy special release.

"All of them have a deep desire to help mankind and they have over extended periods of time - 30, 40, 50, 60 [years], even longer periods of years, have been really focusing on giving back to the community. That's what made these five individuals really stand out as representatives of philanthropists in Australia.

"They've donated to a very broad section [of the community] from the Indigenous communities through to science, medicine and the arts."