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FEES for year commencing July 2007
General Notes
The Institute holds an ABN but is not registered for GST, so the Institute does not collect GST for the Government with any IVMA invoice and those who pay IVMA subscriptions cannot claim any associated input tax credit. Within Australia, however, IVMA subscriptions should be totally deductible for income tax purposes (as a business expense for organisations or as a professional subscription for individual taxpayers).
For the year that commenced July 2002, the Institute reduced many of its subscriptions and fees and provided for each Corporate Member to nominate up to 10 of its employees as a Corporate Affiliate in any subscription year. Through corporate diligence, especially regarding expenditure control, the Institute is still able to retain those same lower fees, which have applied since July 2002. The Institute was even able to declare the year that commenced July 2005 as a “subscription-free year”.
* Eligible Retirees are defined as those who have paid at least 10 years’ membership subscriptions and who are “substantially retired” (i.e. are earning less than $ 10 000 p.a. from paid work). They retain their pre-retirement grade of personal membership but, as people who have substantially retired and have therefore ceased to be fully practising professionals, they will not retain any Registration previously held. This category of personal membership has been structured to enable retired VM people to retain their interest in the profession. |
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