(1) This Policy is effective from 13 May 2022. (2) Deakin University will comply with its taxation obligations in accordance with legislative requirements. (3) This Policy applies to all transactions with a taxation impact, including but not limited to: (4) The University will comply with all relevant taxation legislation. (5) Staff must not be involved in any arrangement to avoid tax, or which contravenes taxation laws. (6) The University is exempt from Income Tax as it is a public educational institution and has been endorsed as a charitable institution. It is therefore not required to lodge an Income Tax return. (7) University controlled entities are taxable. University controlled entities that seek an Income Tax exemption must apply to the Australian Charities and Not-for-profit Commission for an Income Tax exemption. The Director, University Financials will perform this on behalf of University controlled taxable entities. (8) The major types of fringe benefits which apply to University staff and their associates are: (9) The University will only bear the costs for fringe benefits where these are allowed for by an employment contract or by another policy or procedure. The University will not incur the costs for fringe benefits (i.e. private or non-business related expenses) in relation to travel. The University is liable to pay Fringe Benefits Tax on the grossed-up taxable value of all fringe benefits provided to employees. Further information on Fringe Benefits Tax can be found on the Taxation SharePoint. (10) Detailed information on the Goods and Services Tax (GST) system and how it impacts the University can be found on the Taxation SharePoint. (11) The University is liable for Land Tax. Finance and Procurement administers Land Tax related matters at the University in conjunction with Office of General Counsel. Information on Land Tax can be found on the State Revenue Office (SRO) website. (12) The University is required to pay Payroll Tax on salary paid to its employees. Payroll Tax is paid in the state or territory in which the work has been performed. Payroll Tax is administered by HR Central. (13) Faculties and Portfolios are charged on-costs on all salary paid which includes a provision for Payroll Tax. (14) Information on Payroll Tax can be found on the Oncosts website. (15) The University is required to withhold PAYG tax from all salary paid to its employees. PAYG withholding is administered by HR Central. Information on the PAYG withholding rates can be found on the Australian Taxation Office website. (16) For the purpose of this Policy:Taxation policy
Section 1 - Preamble
Section 2 - Purpose
Section 3 - Scope
Top of PageSection 4 - Policy
Compliance
Section 5 - Procedure
Income Tax
Fringe Benefits Tax
Goods and Services Tax
Land Tax
Payroll Tax
Pay As You Go (PAYG) withholding – payment of salary and wages to employees
Section 6 - Definitions
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