The Medical Benevolent Association of Queensland was founded by members of the profession in 1967 with the sole objective of financially assisting Queensland medical practitioners in times of need.
Adversity, financial stress and loss of income can happen at any time.
Many of our colleagues have numerous financial commitments and when these commitments continue in the face of an unexpected event it may lead to a financial setback.
Periods of absence from work due to illness, changes in personal circumstances may cause financial stress. Insurance payments are often available, but MBAQ might be able to provide short-term financial relief.
MBAQ always recommend seeking professional financial advice and consideration of private health insurance, income protection insurance, life insurance and trauma cover.
The MBAQ provides financial assistance for
MBAQ is a not-for-profit organisation which is independent of all other professional, government and regulatory organisations.
Providing confidentiality is of such great importance that it is guaranteed, unless there is an imminent risk of substantial harm to the public or to the practitioner.
Financial crisis may strike at any age in the life of a medical professional. The Medical Benevolent Association is able to offer financial assistance to members of the profession if they request assistance and if they meet the criteria for a grant from the Association.
There are often many demands on the financial resources of a medical professional. Loss of income can be detrimental. For example, many of our younger colleagues have commitments to home and practice loan repayments and various other recurring expenses such as school fees. Meanwhile the various expenses of daily living continue. Items such as food, clothing, electricity, rates and telephone expenses must be provided. Our older colleagues may have seen the value of their savings diminished because of the effects of inflation.
Risks exist for medical practitioners at all stages of their lives. Medicine is not always a guarantee of a financially successful career. Periods of absence from work through illness, injury or disability may precipitate emotional as well as financial stress.
All practitioners are encouraged to have Accident, Sickness and Disability Insurance in an effort to insulate themselves from such effects. They should also consider Business Income Protection Insurance. However there are situations in which these measures either fail or have not been instigated. In such instances the Association can provide some financial support for our colleagues.
The Association provides financial assistance to help medical practitioners. The assistance we can offer is limited by what the profession itself contributes. The continued generosity of members, especially life members has ensured our ongoing ability to help.
By its charter, the Association is limited to spending in any one year only that amount which is equal to the total income of the Association in the previous two years. Thus your continued support of this charitable organisation is vital and greatly appreciated.
The Medical Benevolent Association of Queensland is incorporated as a Company Limited by Guarantee. ACN 126 718 376. MBAQ is managed by a Board of Directors.
The Medical Benevolent Association of Queensland was founded in 1967. For the past 45 years the Association has provided financial assistance to members of the medical profession in times of financial distress.
The Association was registered under Letters Patent on 19 October 1967. The Letters Patent were signed by the then Governor of Queensland, Sir Alan Mansfield. Dr Evan Thomson (later Sir Evan Thomson) was the inaugural President and Dr Harold Palethorpe was the Secretary. Letters Patents were issued as a means of creating a legal entity for organisations under the Religious Educational and Charitable Institutions Act 1861. The Act itself was repealed when the Associations Incorporation Act was passed in 1981.
Many distinguished members of the profession have served as office bearers of the Association. Dr Peter Landy, the emminent Queensland Neurologist served as Honorary Treasurer of the Association for many years. Professor Tess Cramond served as Chair of the Association till 2005.
In 2007 it was decided by the Committee of Trustees of the Association that the legal structure of the organisation needed to be updated. The Association was incorporated as a public company limited by guarantee and was registered with ASIC (the Australian Securities and Investments Commission ) on the 25th July 2007. It was felt that the company structure would give the Association more credibility and transparency for its future operations.
At the 2007 Annual General Meeting, the decision to incorporate was ratified, the Constitution of the Company was adopted and the assets of the Association were transferred to the Company.