Melbourne Theatre Company (MTC)
Subscriptions
Description
Staff have the option to salary sacrifice subscriptions for the Melbourne Theatre Company (MTC). Subscriptions can be paid from pre tax salary.
The MTC is a Department of the University and as such plays produced by MTC are in house product. Accordingly MTC subscriptions can be regarded as an in-house benefit.
What is allowable?
The Fringe Benefits Tax (FBT) Act allows employers to provide staff with in house benefits at reduced tax rates.
Taxation issues / status
The FBT Act provides that the first $500 of the taxable value of in house benefits, are exempt from FBT.
The taxable value of an in house benefit is determined as 75% of the minimum price charged to the public for the same benefit.
There is no GST payable on the MTC subscriptions.
Substantiation Documentation
No substantiation is required.
Form of Payment
You have the option to pay the subscription as a lump sum deduction or have the subscription deducted from your gross salary on a fortnightly basis. Fortnightly payments must be completed by 31 March.
Package Cost
The cost of the subscription. There is no administrative charge
Other Information
The MTC will send an annual subscription notice to all staff in October each year with an application form to salary sacrifice. New Staff will be able to salary sacrifice from their commencement date.
Contact the MTC on 9684 4500 for further information.
How to Apply
Complete the MTC Salary Packaging Form HR32B and send it to MTC. MTC will process the form and then send it to HR for action.