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With billions in ‘profit’ exempt from tax, changes to NZ’s charity rules are long overdue

  • Written by Ranjana Gupta, Senior Lecturer, Accounting Department, Auckland University of Technology
With billions in ‘profit’ exempt from tax, changes to NZ’s charity rules are long overdueJirsak/Shutterstock

The profit made on every breakfast bowl of weet-bix is tax exempt, giving Sanitarium Health Food Company, owned by the Seventh-day Adventist Church, an advantage over other breakfast food companies. But this could be about to change.

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