Queensland Law Society has released a $9 million support package to help the state’s 13,000 practitioners “keep the doors open and keep people in jobs” during the global coronavirus pandemic.
The assistance package, which has attracted national media attention, includes a 50% reduction in the price of full QLS membership for FY2020-21.
It also reduces the compulsory costs of practice by providing a subsidy to practising certificate fees and base professional indemnity insurance levy rates.
The benefits of the assistance package will come into effect with the Society’s FY2020-21 renewals process, which will begin on Tuesday 5 May 2020.
For FY2020-21, this support package will provide Queensland practitioners with a:
- 26% subsidy in the annual cost of individual practising certificates
- 20% subsidy on the base professional indemnity insurance levy rates for practitioners insured through Lexon Insurance Pte Ltd as a result of funding QLS has released from its Law Claims Levy Fund. This has been supported by the Lexon Board and reviewed by Lexon’s actuaries.
- 50% subsidy on the full membership fee for the Society’s more than 11,000 members. QLS has secured a premium funding arrangement with Westpac bank, which allows the costs of renewals to be funded by the bank at 2.95% interest and payable over 12 equal monthly instalments.
The breakdown of the subsidies are in the table below:
The savings are significant. For example:
- A solicitor who holds an employee practising certificate and is a QLS full member would pay $624.15 to renew both their practising certificate and QLS full membership in FY2020-21, a saving of $383.85
- A principal practising certificate holder who is a QLS member would pay $995.80 to renew both their principal practising certificate and QLS membership in FY2020-21, a saving of $515.20.
- Additionally for FY2020-21, QLS will offer its full members:
- A minimum of 10 free continuing professional development points
- Free full membership of QLS for any practitioner who is stood down or made redundant between 1 March 2020 and 30 June 2020 as a result of the COVID-19 situation.
For more information about the QLS support package for practitioners, read on or check out our FAQs.
What do you need to do to access this support?
Right now, nothing. This package will be part of QLS’s FY2020-21 renewals process, which will commence on Tuesday 5 May 2020.
Why you need QLS membership
QLS can help you stay connected with your colleagues and the profession during these uncertain times. We have a comprehensive COVID-19 information hub which is updated daily with information from the courts, guidance for firms and practitioners, and links to information to support practitioners to continue to practise during this difficult time.
This story was originally published in Proctor May 2020.