Membership concessions

There are several membership concessions available to full members for FY2024/2025.

Full members who are on a low income, retired, on a career break, or who have permanently withdrawn from the workforce may be eligible for a reduction in their membership fee. 

Provisional members, affiliates or firms holding Practice Entity Memberships are not eligible for concessional membership fees. 

Hardship arrangements

If you have been granted a membership fee concession because you are retired and have permanently withdrawn from the workforce, you can apply to cancel your CPP. 

Moving onto a concession

Eligible members should select the appropriate concession (Low income, Career Break or Retired) as they move through the online renewal process and their fee will be automatically adjusted. Fees cannot be changed in this way if payment has been made. 

If you are unable to work because of illness or misadventure you may apply for a Hardship concession, contact the member support team to discuss your circumstances. 

What are the three types of concession?

Low income

This concession is available if you are in the paid workforce, but you anticipate that your total annual income will be less than $70,000 in the coming year. This includes all income, not just the income earned from accounting or accounting-related work. However, it does not include income from the following sources: 

  • interest
  • dividends
  • capital gains
  • annuities
  • superannuation
  • income from rental property
  • government pensions or allowances
  • parental leave entitlements

Career break

This concession is available to members who have temporarily withdrawn from the workforce and who anticipate that their income in the coming year will be less than $70,000 from all sources (not just the income earned from accounting or accounting-related work). However, it does not include income from the following sources: 

  • interest
  • dividends
  • capital gains
  • annuities
  • superannuation
  • income from rental property
  • government pensions or allowances
  • parental leave entitlements

Retired

This concession is available to members who are permanently withdrawn from the workforce. There is no age condition applicable to this concession however an income threshold of $50,000 applies. These forms of income are not included in the income threshold calculation: 

  • interest
  • dividends
  • capital gains
  • annuities
  • superannuation
  • income from rental property
  • government pensions or allowances
  • parental leave entitlements

How do I calculate my total annual income?

Your total annual income is your estimated taxable income for the upcoming financial year, less the following exclusions: 

  • interest
  • dividends
  • capital gains
  • annuities
  • superannuation
  • income from rental property
  • government pensions or allowances
  • parental leave entitlements

Are trust distributions exempt from the total annual income threshold?

No. Personal exertion can be directed though a trust, thereby changing the nature of the income. For this reason, trust distributions are only allowed as an exemption where they pertain to income of a nature that is otherwise exempt. 

Special membership rates for those aged 75 and over

Members who have reached the age of 75 or who have held full membership continuously for at least 50 years are automatically exempt from membership fees. This rebate applies to both working and retired members. However, if you hold a Certificate of Public Practice (CPP) and live in Australia, you will need to pay the applicable annual Professional Standards Council (PSC) levy each year and pay for any specialist accreditations you may hold. 

Can my concession be backdated?

No. Concessions cannot be applied retrospectively; that is, they cannot be applied to payments made in previous years. The concession is granted for the current financial year. 

Can I hold a Certificate of Public Practice and still qualify for a concession?

Yes. You can hold a Certificate of Public Practice (CPP) and still qualify for a concession. If you hold a CPP and qualify for a concession because you are on a career break or because your anticipated total annual income will fall below the $70,000 threshold, both your CPP fee and your membership fee will be reduced, and you will pay 35% of the current standard fees.

If you are a member who does not pay membership fees because you are 75 or over, or because you have been a full member for 50 continuous years, you may still need to hold a CPP. You will not be required to pay for your CPP; however, if you are based in Australia, you will need to pay the applicable annual Professional Standards Council (PSC) levy and pay for any specialist accreditations you may hold. As a CPP holder, you are not eligible for any exemption from CPD. 

No longer require a CPP?

If you have been granted a membership fee concession because you are retired and have permanently withdrawn from the workforce, you can apply to cancel your CPP.

Find out more 

If I am granted a concession, do I still need to undertake continuing professional development?

All members are required to undertake continuing professional development (CPD) unless you have been granted an exemption. Regulation CR 7.5 sets out the circumstances in which you may be granted a full or partial exemption. Broadly speaking, these are: 

  • where you would experience particular hardship or difficulty in completing the required CPD 
  • where you have withdrawn from the workforce because of parenting leave, unemployment or illness 
  • where you are in part-time or casual employment 
  • where you hold a CPP but are not currently in practice.

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