The University of New South Wales - Finance

The University of New South Wales (UNSW) is a Charitable Institution and is endorsed as an income tax exempt entity.  UNSW is also endorsed as a deductible gift recipient, which means a donor is eligible to claim a tax deduction for a gift made to UNSW subject to certain rules.  For specific information on what GST codes to use in NS Financials and how FBT should be applied for meal entertainment, please refer to the relevant Taxation Training Guides. 

 

If you have any questions about Taxation at UNSW, please refer your inquiry to the contact(s) listed under Taxation Matters on the Who Can Help contact list.

UNSW is registered for the goods and services tax (GST).  For GST taxable supplies, UNSW must include GST in its charge for the goods and services it provides.  Most goods and services acquired by UNSW will be subject to GST. In most instances, UNSW will be able to claim a credit for GST on the goods and services that it acquires.

 

Valid tax invoices must be provided by UNSW and to UNSW to support all transactions over $75 (excluding GST). Other transactions less than $75 (excluding GST) must be supported by cash register dockets, receipts or invoices.

Fringe benefits tax (FBT) is a tax payable by employers on the value of most private non-cash benefits, known as "fringe benefits", that have been provided by UNSW to its employees and their associates (e.g. spouses, relatives, partners, etc.) in respect of the employees' employment. A benefit is defined to include any right, privilege, service or facility.

 

The main types of fringe benefits provided by UNSW are:

 

-  Cars

-  Entertainment/Meals

-  Expense Payments

-  Relocation, accomodation and meals

 

UNSW is liable for any Fringe Benefits Tax on the value of the fringe benefit provided to its employees and their associates. This cost is charged to the relevant faculty or department.  UNSW is required to record the total grossed-up value of certain fringe benefits over $2,000 in an FBT year on the employee's annual payment summary.

Payroll tax is imposed on employers by all Australian States and Territories according to their own separate legislation. The requirements, liabilities and rates of tax vary with each State and Territory.  Each legislation provides for pay roll tax to be levied on wages (in cash or kind) provided by an employer to their employees. The tax must be paid by the employer every month.