The regulations require associations to pay annual fees for each person to whom their Professional Standards Scheme applies, and who is a member of the association at any time during the annual fee period. This fee is currently set at $50 per member.
The fee is calculated per annual fee period – that is, each period of 12 months starting when your Professional Standards Scheme commences, and on each anniversary of that date. So if you have 1,000 participating members on the day your Professional Standards Scheme starts, your annual fee would be $50,000.
In addition, you must pay a quarterly fee adjustment for each new member that joins your Professional Standards Scheme. For example, if you had 10 new members join in a particular quarter, you would need to pay an adjustment of $500.
Your fees are payable to the Councils by 31 January, 31 March, 30 June and 30 September. Fees paid after the due date may incur interest.
In total, your association may have to make up to five payments each year – one payment to cover your membership on your scheme’s start or anniversary date, and up to four quarterly adjustments for members who join mid-year.
Please note:
- No refunds are payable on fees for members who leave the scheme before your annual fee period ends.
- No discounts apply on adjustment fees. The full $50 fee is payable for each new member regardless of when they join.
- Your annual fee and first quarterly adjustment will be due on the same date (that is, the end of the quarter in which your scheme’s commencement or anniversary date falls). To avoid counting members twice during this quarter, you should only adjust for new members who join after your scheme’s commencement or anniversary date.
- Fees must be paid for all members who participate in your scheme, including partners, directors, employees, companies, and other business entities.