Membership concessions

There are a number of membership concessions available to full members.

You may be eligible for a concession

Full members who are on a low income, on a career break or who have permanently withdrawn from the workforce may apply for a reduction in their membership fee. Provisional members, affiliates or firms holding practice entity memberships are not eligible for concessional membership fees.

Members with an income of less than $50,000 and members who are on a career break and who have an approved concession pay only 35% of the current standard membership fee. The income threshold is set at NZ$50,000 for New Zealand residents and A$50,000 for all other members.

Members who are retired and permanently withdrawn from the workforce and who have an approved concession pay only 20% of the current membership fee.

The Board may further reduce the membership fee of an individual member who can show they are suffering hardship as the result of illness or misadventure.

What are the three types of concession?

Low income

This concession is available if you are in the paid workforce but your total annual income is less than $50,000. 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This concession is available to members who have temporarily withdrawn from the workforce – those who are not working currently but intend to return.

Retired

This concession is available to members who are permanently withdrawn from the workforce. There is no age condition applicable to this concession.

How do I calculate my total annual income?

Your total annual income is your estimated taxable income for the upcoming financial year based on your most recent income tax return in your country of residence for tax purposes, 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 through a trust, thereby changing the nature of the income. For this reason they are not included as an exemption.

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 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 and will be invoiced on a pro-rata basis calculated from the beginning of the month in which the concession was approved.

For example, if your concession was approved on 15 September, the invoice will include:

  • three months at the standard membership rate; and
  • nine months at the reduced (concessional) membership rate.

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 $50,000 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.

Apply to cancel your Certificate of Public Practice

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

How do I apply for a concession?

As part of the renewal process, you will have the option to amend your financial category to nominate the type of concession you would like to receive.

membership concession declaration

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

All individual and affiliate members are required to undertake continuing professional development (CPD) unless you have been granted an exemption. Regulation CR 7.4 sets out the circumstances in which a member may be granted a full or partial exemption. Broadly speaking, these are:

  • where a member is at least 60 years of age and does not hold a Certificate of Public Practice (CPP) or a specialist accreditation
  • where a member would experience particular hardship or difficulty in completing the required CPD
  • where the member has withdrawn from the workforce because of parenting leave, unemployment or illness
  • where the member is in part-time or casual employment
  • where the member holds a CPP but is not currently in practice.

To obtain an exemption, you will need to apply by completing a CPD exemption form. Note that being approved for a concession does not mean you are automatically granted a CPD exemption.

How can I apply for an exemption?

If you believe you may be eligible for an exemption, read the details of how to apply and fill out the application form.

CPD Exemptions

Have more questions?

We are here to help. Please contact our Member Support Team on service@charteredaccountantsanz.com or 1300 137 322 (Australia); 0800 469 422 (New Zealand) or +64 4 474 7840 (outside AU and NZ).

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