GST Explained
Swinburne Student Life is subject to a standard 10% GST, which in turn affects affiliated Clubs and their finances.
When a Club generates income (e.g. memberships, member or sponsor payments), GST will be included in the total amount.
If a Club deposits $110 into their club account, $100 will be shown in the account. The remaining $10 is the GST component, which goes into a separate Swinburne account.
If we pay an invoice on your behalf totalling $110 for payment from a GST registered source, only $100 will be deducted from the Club account. The additional $10 will be taken out of the Swinburne GST account.
Prohibited methods of accepting payment/funds/compensation:
o Gift cards (Prepaid or reloadable)
o Store credit
o PayPal® or similar
o Digital currencies or currency analogues, including cryptocurrencies such as Bitcoin
Want to print your doc? This is not the way.
Try clicking the ⋯ next to your doc name or using a keyboard shortcut (
Finance FAQs