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Join the Capital Development Fund
What is the Capital Development Fund?
The concept is simple. You lend money to Baptistcare and no interest is payable on your investment. Baptistcare will invest your money and the interest earned will go to support the caring work of Baptistcare. Your deposit is not a gift but a loan that must be repaid within 24 hours of receiving written notice. The minimum deposit is $1000.
What does Baptistcare do with the interest earned?
The interest earned on your deposit will enable us to undertake capital works and to develop programs that provide accommodation and support for the elderly, people living with a mental illness and people living with a physical or intellectual disability.
How do I benefit from joining the Capital Development Fund?
Apart from knowing that you are assisting Baptistcare to meet the care needs of Western Australians, you may also enjoy a financial benefit from joining the Capital Development Fund. You may have money set aside in banks or financial institutions earning interest which may affect your pension or increase your tax. The Government's Extended Deeming provisions mean that savings you have a re "deemed" to earn a set level of interest regardless of actual interest earned. This could result in some loss of pension if your "deemed" income exceeds certain levels. Deposits placed with Baptistcare Capital Development Fund are exempt from Extended Deeming provisions. In other words, your deposit with Baptistcare will not be assessed as earning any interest. Therefore your pension and entitlement can be retained or in some circumstances even increased.
For more information contact:
Chief Financial Officer
PO Box 1067 CANNING BRIDGE WA 6153
T (08) 9282 8600
F (08) 9316 9471
E capitaldevelopmentfund@baptistcare.com.au
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