BUDGET-PERSONNEL AND FRINGE BENEFITS

Personnel Definition

Employees of the organization should be included in the Personnel Section of the budget. Employees can include professional or technical positions, full, part-time or hourly employees, student or assistants. This category includes courtesy faculty who are not employees of the university. Clerical/administrative support as part of their normal duties is not allowed, however with special justification it may be approved (see Budget-Overview and General Cost Categories under Clerical/Administrative salaries for approval process). Salaries and wages listed in the budget should indicate each person's name, title or position, percentage of time estimated for the proposed project, the salary base, and the period of effort (if allowed by format). A consideration when calculating salaries and wages is the starting and ending dates of the project. Salary increases, following normal university policy, should be taken into account when calculating salaries and wages over a period of more than one academic year.

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A fringe benefit is generally defined as a benefit not being salary, wage or other cash remuneration, derived from employment. Such benefits usually apply more frequently to salaried employees not covered directly by awards or certified agreements and may include superannuation, low interest loans, provision of cars or car allowances, subsidised meals, etc. Fringe benefits tax (FBT) is a tax payable by employers when they provide fringe benefits to employees.

Federal Sponsors

All federally funded proposals should be submitted with the below rates. All rates are based on MTDC.  Note that the first $25,000 of each subcontract, per project period, is included in the Facilities & Administration cost base.  (Amounts over $25,000 of each subcontract are excluded from the base.)

Commercial Sponsors

For commercially sponsored research, use the commercial rate applied to a Total Direct Cost base.  For clinical trials, use the off-campus research rate if the space cost is supported by clinical billing.  For animal or lab based studies, use the on-campus research rate.

Other Sponsors

For other sponsors, use the federal rate or the sponsor's maximum rate if stated in their policies.  If the sponsor's rates are less than the federal rate, include space and administrative costs in the direct cost budget if allowed.

The amount of Fringe Benefits Tax (FBT) you'll get charged for your car will depend on:

• the distance travelled each FBT year
• its base value - this is its purchase price excluding the cost of stamp duty, registration and compulsory third party insurance. The value should include the cost of any fitted accessories and be inclusive of GST.

To manage your FBT. Smartsalary uses a special method called the Employee Contribution Method. This method involves collecting the car's lease and running costs from a mix of pre and post tax salary. In general, the more you drive, the more you can pay with pre-tax dollars and the more you will save. This method maximises your tax savings regardless of what salary bracket you're in.