But the millions of dollars from its sale will be poured back into aviation causes in a display of goodwill to the industry.

Canberra institutions to benefit from Mr Smith include the Australian War Memorial, the National Museum, the National Library and the National Film and Sound Archive, each receiving $50,000. Snowy Hydro SouthCare was given $20,000.

Mr Smith blamed ongoing maintenance costs and red tape for the July sale of his jet.

"I didn't really have to have it - a bit of sacrifice is good sometimes - so at least I'll get some satisfaction out of doing some worthwhile with the money," he said.

"With the money to the four organisations in Canberra I said I'd prefer it to be used - it's up to them - on the aviation side. It'll all be geared to aviation if possible."

Airservices Australia will receive a significant chunk of the carve-up with $160,000 going to the organisation.

Mr Smith hopes the air navigation service provider will use the funds to install weather cams for pilots to monitor conditions in their planned destination.

It's a cause close to his heart: his friend Richard Green was one of three people killed in a Cessnock helicopter crash in poor weather last year.

"If he'd had a weather cam he probably could've keyed in and realised the weather was bad," Mr Smith said.

An Airservices Australia said they were viewing Mr Smith's proposed use of his donation "in a positive light".