Capital expenses, not depreciating assets. In any case, my broader point is that tax law for businesses and other taxable organisations is not as simple as "we

Capital expenses, not depreciating assets. In any case, my broader point is that tax law for businesses and other taxable organisations is not as simple as "we didn't make a profit and therefore pay no tax this year", and therefore as someone who isn't a qualified tax accountant, I can't really say with much accuracy what impact particular changes to tax law are going to have on the overall financial position of an organisation like a church.