Asialink Membership
Description
Staff have the option to salary sacrifice membership subscriptions to The Asialink Centre. This allows membership fees to be paid from pre tax salary.
Details of Asialink membership and benefits can be found at their web site: http://www.asialink.unimelb.edu.au/asialink/memberships.html
What is allowable?
Membership fees for the staff member and their family and friends.
Taxation issues / status
The provision of Asialink 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 $1000 per annum (FBT year) per employee. This means that staff can salary sacrifice in house benefits up the value of $1000 per year and pay no FBT on the benefits. The $1000 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 $1332.
The University offers a number of in house benefits (MTC subscriptions and membership of Asialink and The Ian Potter Gallery). Staff must not exceed the $1000 limit to be eligible for the FBT exemption.
All applications for salary sacrificing in house benefits will be assessed against the $1000 threshold before approval. Claims in excess of this amount will be returned to the employee.
Substantiation Documentation
No substantiation is required.
Form of Payment
The membership fee is deducted from your fortnightly salary in one deduction from the next available pay.
Package Cost
Annual Membership is $99 including GST. If salary sacrificed GST will not be payable. This is based on a fixed annual pricing structure that runs from March to March. What this means is that all existing members renew their membership each March and any new members that join within the year pay their initial year of membership at a pro rata rate.
Other Information
Contact Asialink on 8344 4800 or at the web reference above or email memberships@asialink.unimelb.edu.au.
How to Apply
Complete the Asialink membership application form together with the Salary Packaging HR 32IH form, and send both to:
Human Resources,
3rd Floor
Raymond Priestly Building.