On 19 May 2020, the Victorian Government announced a support package for Victorian Universities, with two main measures forming the package.
The first measure of the package is the creation of Victorian Higher Education State Investment Fund. This is a $350 million fund which aims to support universities with:
Works are intended to be ‘focused on new technology and infrastructure that enables universities to conduct new research, commercialise intellectual property and create high-value jobs’. The Department of Education has stated that ‘[t]he Department will work with all Victorian universities on the allocation of funding through the Victorian Higher Education State Investment Fund.’
In addition to the new fund, the Victorian Government also announced that all Victorian universities would be offered payroll tax deferrals with a total value of around $110 million. As of 2 June 2020, there does not appear to be any further information released in relation to this deferral.
This article provides a general summary of the subject covered and cannot be relied upon in relation to any specific instance. It is not intended to be, nor should it be relied upon as, a substitute for professional advice. TaxEd Pty Ltd and any person connected with its production disclaim any liability in connection with any use.
This article provides a general summary of the subject covered as at the date it is published. It cannot be relied upon in relation to any specific instance. TaxEd Pty Ltd and any person connected with its production disclaim any liability in connection with any use. It is not intended to be, nor should it be relied upon as, a substitute for professional advice.