And so we have another turn in the twists and turns of universities and JobKeeper.
The universities listed on Table B of the Higher Education Support Act 2003 – Bond, Notre Dame, Divinity and Torrens – will be exempted from one of the three rule changes designed to prevent universities getting JobKeeper.
They are still not counted as charities to get the lower 15 per cent decline in turnover threshold (not that Torrens is one anyway). They still have to count government grants in their revenue base. However, their revenue loss can be calculated over the month or quarter that applies to most enterprises, rather than the six months that applies to Table A universities.
In practice, I think this change is irrelevant to Notre Dame. In 2018, only 2 per cent of their revenue came from international students. Another 10 per cent came from up-front payments from domestic students. With their Commonwealth Grant Scheme and HELP funding guaranteed, there is a very low likelihood that Notre Dame will have the required 30 per cent decline in revenue.Read More »