Fellowship is the NTAA's Practising Certificate
Fellowship
NTAA members can also apply for Fellowship for only $319 per year and receive a Practising Certificate, which enables them to practice as an "NTAA Public Accountant". The Fellowship is an annual subscription that is in addition to the membership.
In order to be qualified for a Fellowship, members will need:
- a valid and current practising certificate from CPA Australia, the CAANZ or the IPA;
or -
at least three years full time experience as a practitioner; and
- to hold a recognised degree with an accounting major.
Please click here to download the NTAA's Fellowship Application Form.
Fellows of NTAA (where eligible) may also apply for Fellowship of NTAA PLUS Ltd (NTAA's TPB RTAA) at no further cost – click here for more information.
NTAA Fellows who are registered Tax Agents, must undertake a three year Continuing Professional Development (‘CPD’) programme in line with their Tax Agent registration period.
NTAA Fellows who are not registered tax agents will have a three year CPD programme starting on the date they are accepted as an NTAA fellow.
The table below outlines the CPD hours required by the TPB:
| 120 hours CPD over 3 year registration | ||
|---|---|---|
|
At least 78 hours - Structured All NTAA seminars are classed as structured professional development for all accounting associations. |
Maximum 30 hours – Unstructured Reading the NTAA’s Voice magazine, Seminar Notes, etc., are considered unstructured hours |
Maximum 12 hours – Unstructured |
|
||
Professional Indemnity (‘PI’) Insurance
All Fellows of NTAA and NTAA PLUS Ltd. must hold PI insurance. The minimum aggregate amount of PI cover must meet the Tax Practitioner Board’s requirements (please click here for more information about PI insurance on the TPB’s website).
Please visit NTAA’s Insurance Solutions: www.nis.ntaa.com.au for further information.
The table below outlines the PI Insurance required by the TPB:
|
Tier |
Turnover (excluding GST) |
Minimum aggregate amount of cover* (inclusive of legal and defence costs) |
|---|---|---|
|
1 |
Up to $75,000 |
$250,000 |
|
2 |
$75,001 - $500,000 |
$500,000 |
|
3 |
Over $500,000 |
$1,000,000 |
*Please note that what is an appropriate amount of cover for you may in fact be more than what is set as the minimum requirement.
The benefits of becoming an NTAA Fellow
Holders of Practising Certificates can use the name "NTAA Public Accountant" on signage, letterhead, business cards and the like. Fellows may also use the post nominal NTAAF.
Click here to view a list of all Fellowship benefits.
To save Fellows unnecessary paperwork, we maintain a register of the number of hours Fellows spend attending NTAA seminars. Details are available on request.
Fellows are accredited to witness the signing of certain declarations and reports. Please contact us for more information.
SMSF auditor registration requirements
Prior to 1 July 2013, an NTAA Fellow may have been authorised to audit SMSFs. Due to changes, this is no longer the case.
Please click here for more information.
Will we become like the other tax bodies? No!
Holders of Practising Certificates find that:
-
we only do TAX! The NTAA is purely focused on issues that affect wage earners and family businesses in tax, FBT, GST, CGT and Superannuation; and
-
the NTAA does not want to intrude into your practice or dictate the way in which you run your business, nor will we put excessive requirements on your trust funds.
