- Mandatory Notifications
- Understand the PSC Levy and how it relates to you
- Income Concession questions covering Career Break, Retired and Low Income
What is a Mandatory Notification and why do I have to fill it out?
The Mandatory Notifications is a once a year snapshot that helps us understand the activities our members are engaging in. Gathering this information contributes to satisfying our obligations to other professional bodies and ensuring you are meeting your obligations as a member.
I am retired, do I have to complete the Mandatory Questionnaire?
Yes, you do. Many retired members are engaged in a variety of activities, for example paid and voluntary work, in directorships and as employees. It is important for us to capture this information.
I joined the organization as an NZICA member and am now living overseas. I realize I’m now a member of CA ANZ. Am I still required to do Mandatory Notifications?
Yes, even if you are living outside NZ you need to complete the Mandatory Notifications.
Are there different questions depending on where I am living?
Yes, some questions are common across all members but there are also residence specific questions.
I joined the organisation as an ICAA member and have not been asked to provide my CPD hours previously. Why are you asking for this information now?
Following the amalgamation, we continue to work towards aligning requirements across the membership. All members are required to meet certain membership obligations as detailed by the CA ANZ By-laws, Regulations and other governing documents. As a membership organisation, we undertake monitoring activities to ensure we continue to maintain quality and expertise in the profession and to protect the brand and designation. The information provided by you assists us in undertaking this function.
I have been using the online CPD log and now I’m being asked for my CPD hours again. Why do I have to give this to you twice?
Regulation CR7 requires members to maintain a CPD log but does not require members to specifically use the CA ANZ online CPD log. Many members prefer to use other means of recording their CPD, for example an in-house system through their employer, or using excel. The mandatory notifications is the mechanism by which you declare to us what CPD you have undertaken during the period, your log will contain additional detail which will be important if you are selected for a CPD audit.
Why do I have to sign off that my employment records are true and correct?
It is important for the good management of CA ANZ and to properly service our members that we have up to date records of where they are working.
We are also required to provide information to the Professional Standards Council annually as to how many members are in public practice and need to be able to demonstrate that this data is verified.
Note that it is a member’s responsibility under the by-laws to update us as to this information.
What is a PSC Levy?
It's a levy on all AU CPP holders, affiliate members and practice entity members who have the benefit of the Professional Standards Scheme in relation to their services. The levy is determined by the Professional Standards Council and we include the costs incurred by us in administering the Professional Standards Scheme. The PSC levy is charged according to practice size.
How are the PSC levy bands determined?
The levy is calculated based on how many principals are in your practice. i.e. the more Principals the higher the levy.
I am a CPP holder that works for one practice but I hold a CPP to conduct my own services as a sole practitioner, which rate will apply?
The levy should be calculated based on how many principals your CPP relates to, i.e. sole practitioner equates to a practice size with one principal. It depends on why you hold your CPP, i.e. to conduct work as a sole practitioner or to conduct work for the practice you work at.
If you need further clarification please contact email@example.com
How many PSC levy bands exist?
There are six PSC levy bands and they are split into the following:
Practice size principal/s PSC levy (incl GST) 1* $66 2 $99 3-4 $145 5-9 $218 10-19 $290 20+ $297 Practice Entity Membership (PEM) $66
*Practice size of 1 principal includes: all 1 partner firms, full CPP holders in commerce, full CPP holders and affiliates who have not nominated which segment they work in, full CPP holders who are not principals
I already pay a PSC levy as a CPP holder does my practice entity also pay a PSC levy?
Yes, PEM’s will get a separate invoice with their PEM renewal form. There is a flat fee of $66 (incl. GST). This is because the PEM exists as a member of the scheme in addition to you as a member holding a CPP also being part of the scheme. The renewal form will confirm the PEM requirements are met and you wish to continue to hold PEM membership for your incorporated entity.
Who receives my Practice Entity Membership renewal form?
When you submit your PEM application form, there will be a practice entity representative listed. This is who will receive your PEM renewal with the PSC levy payment details.
I read on the PSC website that the annual PSC fee is $50 why are we being charged $66?
The levy is $66 (incl. GST) as it includes an administration charge that covers our reporting requirements, our annual independent audit certificate to verify membership numbers to the PSC, and collection and reimbursement requirements for the annual fees paid on behalf of members to the PSC each quarter.
Chartered Accountants ANZ introduced this administration fee of $10 (excl. GST) to recover the costs of meeting the scheme requirements and having the scheme in place.
I work at one of the practice’s branches. How is the PSC Levy determined?
The PSC levy is determined based on which office you belong to — if you work at your firm’s Sydney office, it would be calculated based on how many Principals are in the Sydney office.
I am a CPP holder that works in TASMANIA, do I need to pay the PSC levy?
Yes, on the 15 August 2017 the CA ANZ’s current Victorian Professional Standards Scheme was extended to include Tasmania members. This means that if you are a CPP holder, affiliate member or practice entity member based in Tasmania you now have the benefit of the Professional Standards Scheme and are required to pay the PSC levy and meet your Professional Standard Scheme requirements.
I am a CPP holder that holds a full AFS License, authorised representative for a full AFSL, does the PSC levy apply to me?
If you hold your CPP and also hold a full AFSL, or are an authorised representative of a full AFSL, then you are excluded from the PSC levy as the Professional Standards Scheme does not apply to you.
I am a CPP holder that is currently working overseas does the PSC levy apply to me?
If you are currently overseas then the scheme does not apply to you and the PSC levy does not apply to you.
I am a CPP holder that holds a CPA Public Practice Certificate, does the PSC levy apply to me?
No, as you are a member of both CPA and CA ANZ and require a CPP but you chose to hold a CPA PPC then you do not need to pay the PSC levy to CA ANZ. You will be excluded from the PSC levy as you will be paying it to CPA as a holder of a CPA PPC.
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?
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:
- Capital gains
- Income from rental property
- Government pensions or allowances
- Parental leave entitlements
This concession is available to members who have temporarily withdrawn from the workforce, those who are not currently working but who intend to return.
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:
- Capital gains
- 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.,
Need more info?
We're here to assist you.Contact us