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Centenary Development Foundation

Ministers' Vehicle Replacement Fund	This fund provides a special opportunity for churches to provide for the replacement of a minister's motor vehicle, using avenues made available by the Fringe Benefits Tax legislation.  Here's a summary: 1. The church opens a CDF investment account naming the minister as the beneficiary 2. The church makes deposits to the account from the minister's Fringe Benefits allocation 3. The account accrues interest at the rate of 5.50% (half-yearly reports provided to the church) 4. When a vehicle is required, the balance of the account is paid to the vehicle vendor Note that this is strictly a "savings" account - there is no loan facility in the proposal.
home	Rates correct at 1^st April 2008 - please confirm latest rates before making any decision