Ian Potter Museum of Art
Membership Fees
Description
Staff have the option to salary sacrifice membership subscriptions to Ian Potter Museum of Art. This allows membership fees to be paid from pre tax salary.
Details of the Ian Potter Museum Membership and benefits can be found at their web site: http://www.art-museum.unimelb.edu.au under 'Exhibitions and Programs'
What is allowable?
Membership fees for the staff member and their family and friends.
Taxation issues / status
The provision of Ian Potter Museum Membership is classified as an in-house benefit for tax purposes. No GST is not payable on the membership fee.
The ATO allows the taxable value of in-house benefits to be reduced by up to $500 per annum (FBT year) per employee. This means that staff can salary sacrifice in house benefits up the value of $500 per year and pay no FBT on the benefits. The $500 is the taxable value which in most cases is 75% of the benefit price, this allows staff to have benefits with a face value of $666.
The University offers a number of in-house benefits (MTC subscriptions, membership of Asia link and MUP Bookroom vouchers). Staff must not exceed the $500 value limit to be eligible for the FBT exemption.
All applications for salary sacrificing in-house benefits will be assessed against the $500 threshold before approval. Claims in excess of this amount will be returned to the employee.
Substantiation Documentation
No substantiation is required, only the application form.
Form of Payment
The Membership fee is deducted from your fortnightly salary in one deduction from the next available pay.
Package Cost
Annual Membership (when salary sacrificed without GST) is: $50 individual staff member ($80 couple/family)
Other membership fees (when salary sacrificed without GST) are: $40 concession and $30 student. GST applies when fees are not salary sacrificed.
Membership is based on an annual membership commencing from day of joining.
Other Information
Contact The Ian Potter Museum of Art on 8344 5148 or email: frontdesk@art-museum.unimelb.edu.au
How to Apply
Complete the Ian Potter Museum Membership application form (in the brochure) together with the Salary Packaging HR 32 IH form, and send both to Salary Packaging Co-ordinator, HR 3rd floor, Raymond Priestly Building.
Ian Potter Museum of Art Application form available from http://www.art-museum.unimelb.edu.au under "Exhibitions and Programs' Salary Packaging form HR 32 IH