Catholic Church national wealth estimated to be $30 billion
... investigation finds
There are calls for the Catholic Church's tax-free status to be reviewed after a Fairfax investigation revealing the extent of property, assets and investments owned by the church in Australia.
- Probe indicates the Catholic Church is worth more than $9bil in Victoria alone
- Reported figures are in stark contrast to what is on the public record
- Academic calls for the Church's tax free status to be reviewed
Fairfax's six-month investigation found the Catholic Church was worth more than $9 billion in Victoria alone.
The investigation extrapolated that figure to estimate the church's national wealth at $30 billion.
The Age's journalists obtained property valuations from dozens of Victorian councils.
They found 1,800 church-owned properties, including churches, presbyteries, schools, nursing homes, hospitals, offices, tennis courts and even mobile phone towers.
But beyond real estate, there was superannuation, telecommunications, Catholic Church Insurance and Catholic Development Funds, which serve as an internal treasury.
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