Membership FAQs

We collated a list of frequently asked questions relating to renewing your membership

In brief

  • Mandatory Notifications
  • Understand the PSC Levy and how it relates to you
  • Income Concession questions covering Career Break, Retired and Low Income

Mandatory Notifications

PSC Levy

Concessional membership subscription rates

  • Members who are having difficulty in paying their membership subscription fees may be eligible for a concession

    Full members who are on a low income, who are on a career break or who have permanently withdrawn from the workforce may apply for a reduction in their membership subscription fee.  Provisional members, Affiliates or firms holding Practice Entity Memberships are not eligible for concessional membership subscription fees.

    Members with an income of less than $30,000 or who are on a career break, and who have an approved concession, pay only 35% of the current standard membership subscription fee.  The income threshold is set at NZD 30,000 for members resident in New Zealand and AUD 30,000 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    Members who are retired and permanently withdrawn from the workforce and who have an approved concession, pay only 20% of the current membership subscription fee.

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

  • What is the difference between the three types of concession?

    Low income

    This concession is available where a member is in the paid workforce but their total annual income is below $30,000.  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    This concession is available to members who have temporarily withdrawn from the workforce, those who are not currently working but who intend to return.

    Retired

    This concession is available to members who are permanently withdrawn from the workforce and are no longer working.  There is no age criterion applicable to this concession. 

  • How do I calculate my total annual income?

    Your total annual income is your estimated taxable income figure for the upcoming financial year that you would provide on your 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 subscription rates for those aged 75 and older
    Members who have reached the age of 75 or who have held full membership continuously for at least 50 years, pay no membership subscription fees.  This rebate applies to both working and retired members, however if the member holds a CPP and lives in Australia, they will need to pay the applicable annual PSC levy each year and pay for any specialist accreditations they may hold.
  • Can my concession be backdated?

    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 the 15th of September then the invoice will include:

    • 3 months at the standard membership subscription rate and
    • 9 months at the reduced (concessional) membership subscription rate
  • Can I hold a Certificate of Public Practice (CPP) and still qualify for a concession?

    You can hold a 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 $30,000 threshold, both your CPP fee and your membership subscription fee will be reduced, and you will pay 35% of the current standard fees.

    Members who pay no subscription fees because they are aged 75 or older, or because they have been a full member for fifty continuous years, may still need to hold a CPP.  They are not required to pay for their CPP however if they are based in Australia these members must pay the applicable annual PSC levy and pay for any specialist accreditations they may hold.

    Apply to cancel CPP

    Members who have been granted a concessional rate of membership subscription fee because they are retired and have permanently withdrawn from the workforce can apply to cancel their CPP. 

  • If I am granted a concession must I continue to undertake Continuing Professional Development?

    All individual and Affiliate Members are required to undertake Continuing Professional Development (CPD) unless they 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 CPP or a specialist accreditation.
    • Where a member would experience particular hardship or difficulty in completing the required CPD.
    • The member has been withdrawn from the workforce because of parenting leave, unemployment or illness.
    • The member is in part time or casual employment.
    • The member holds a CPP but in not currently in practice.

    Are you eligible for an exemption

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

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