Catholic Inc.
What the Church is really worth
An Age investigation reveals for the first time the value of the Catholic Church’s wealth in Australia and raises serious questions about compensation payments to victims of child sex abuse.
by Royce Millar, Ben Schneiders & Chris Vedelago
FEBRUARY 12, 2018
Payments to child sex abuse survivors under church redress schemes
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The Catholic Church in Victoria is worth more than $9 billion, making it the biggest non-government property owner in the state and much wealthier than it has admitted in evidence to major inquiries into child sexual abuse.
A six-month investigation by The Age has found that the church misled the Royal Commission into Institutional Responses to Child Sexual Abuse by grossly undervaluing its property portfolio while claiming that increased payments to abuse survivors would likely require cuts to its social programs.
Figures extrapolated from a huge volume of Victorian council valuation data show the church has more than $30 billion in property and other assets, Australia wide.
Based on these figures, the church is clearly the largest non-government property owner, by value, in the state, and close to the largest in Australia, rivalling giant Westfield, with its vast network of shopping centres and other assets.
