FINANCE RELEVANT LEGISLATION DESCRIPTION OF GOVERNANCE COMMENTARY RESPONSIBILITY FOR LEGISLATION/OBLIGATIONS ENSURING COMPLIANCE A New Tax System (Australian An Act establishing a register of Australian The University has applied for and received an Australian Chief Financial Officer businesses through a system of business Business Number) Act 1999 Business Number (ABN: 78 106 094 461) number registrations. (Commonwealth) A New Tax System (Goods and An Act implementing a and services The University provides a GST information page and a GST Chief Financial Officer tax and requiring the provider of taxable Services Tax) Act 1999 information service. It also publishes the Griffith University supplies to collect, charge and remit GST GST Taxation Guidelines. (Commonwealth) to the Australian Taxation Office. The University is registered for GST. Finance is responsible for Education is listed as GST-free, however, the legislation, as currently written, refers ensuring the University lodges Business Activity Statements to award courses, adult and community with the Australian Taxation Office on a timely basis. education courses and professional and trade courses. Continuing professional development courses are not GST-free. A GST registered entity is entitled to claim input tax credits on the acquisition of supplies. Australian Charities and An Act that establishes the Australian The University’s is registered for fundraising activities with the Vice President Charities and Not-for-Profits Commission ACNC and the University is required to meet the annual (Corporate Services) Commission Act 2012 (‘ACNC’) and a national regulatory system reporting, governance and external conduct requirements. (Commonwealth) Director, D&A that promotes good governance, Financial Officer accountability and transparency to maintain, protect and enhance public trust
FINANCE RELEVANT LEGISLATION DESCRIPTION OF LEGISLATION/OBLIGATIONS GOVERNANCE COMMENTARY RESPONSIBILITY FOR ENSURING COMPLIANCE A New Tax System (Australian Business Number) Act 1999 (Commonwealth) An Act establishing a register of Australian businesses through a system of business number registrations. The University has applied for and received an Australian Business Number (ABN: 78 106 094 461) Chief Financial Officer A New Tax System (Goods and Services Tax) Act 1999 (Commonwealth) An Act implementing a and services tax and requiring the provider of taxable supplies to collect, charge and remit GST to the Australian Taxation Office. Education is listed as GST-free, however, the legislation, as currently written, refers to award courses, adult and community education courses and professional and trade courses. Continuing professional development courses are not GST-free. A GST registered entity is entitled to claim input tax credits on the acquisition of supplies. The University provides a GST information page and a GST information service. It also publishes the Griffith University GST Taxation Guidelines. The University is registered for GST. Finance is responsible for ensuring the University lodges Business Activity Statements with the Australian Taxation Office on a timely basis. Chief Financial Officer Australian Charities and Commission Act 2012 (Commonwealth) An Act that establishes the Australian Charities and Not-for-Profits Commission (‘ACNC’) and a national regulatory system that promotes good governance, accountability and transparency to maintain, protect and enhance public trust The University’s is registered for fundraising activities with the ACNC and the University is required to meet the annual reporting, governance and external conduct requirements. Vice President (Corporate Services) Director, D&A Financial Officer
Register%20of%20Compliance%20Obligations.docx