REPORT ON FINANCES

Chronicle (Levin), 31 October 1946, Page 7

REPORT ON FINANCES

presbyterian church W AN G ANUI, Oct. 30. Mr. T. C. Brasli, convener of tlie tinance committee, at the General Assembly of the Presbyterian Ghurcli of Xew Zealand, presenting the treasurer's statement announced that the summarised balances- of trust funds now stood at £754,940. The missionary budget was once again over subscribed. Reeeipts totalled £58,4(52, the highest giving yet on record. Mr. Brash emphasised that interest rates on investments were still falling while the aeute inflation existing in China was causing the church much anxiety lest increased costs might bring tlireat of retrenchment which the church was determined should not oceur. Analysing the expenditure of the Presbyterian church on its missionary work, Mr. Brash announced that overseas missions received £29,201, home missions £9,677; Maori missions £210,503 ■

1 and other causes £10,084. The memorial and thanksgiving fund special appeal had realised £47,293 which was divided into one-eleventh for reconstruction in Europe and Great Britain, five-eleventh for missions and reliabilitation and five-elevenths for new liousing areas in A"ew Zealand. Cf the European contribution a church building had been given to a devastatecl town in Holland and money sufficient for the training of two students of the church in Germany for the Chrisian ministrv, had been sent overseas. Both of these gifts had been deeply appreciated. Tax Deductions Sought. Referring to the difficulty of business houses and individuals in giving Substantial donations to religious and charitable organisations, Mr. T. ,C> Brash announced that it was the intention of the church to approaeh the Gov-" ernment at a later date to allow as deductions for income tax. assessments on gifts made by business and industrial houses. Another speaker, Mr. Malcolm Eraser, pointed out that a large business firm might fmd that to givc a douation of £1(50 it now needed to earn £500, the difl'erence being taken' in taxation.