ASIC has issued its 2023-24 Cost Recovery Implementation Statement (CRIS) which outlines estimated regulatory costs and levies next year for each industry subsector it supervises.
Final levies will be published in December 2024 and invoiced between January and March 2025.
Examples include:
- Deposit product providers: Minimum levy of $2,000, plus $1.75 per $1m of total deposit liabilities above $10m
- Credit providers: Minimum levy of $2,000, plus $37.06 per $1m of credit provided above $100m (other than for small and medium amount credit contracts)
- Small and medium amount credit providers: $47.20 per $10,000 of credit provided under small and medium credit contracts
- Credit intermediaries: Minimum levy of $1,000
- Superannuation trustees: Minimum levy of $18,000, plus $11.66 per $1m of assets above the $250m threshold
- Financial advice licensees that provide personal advice to retail clients on relevant financial products: Minimum levy of $1,500, plus $2,878 per adviser.
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Author: David Jacobson
Principal, Bright Corporate Law
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About David Jacobson
The information contained in this article is not legal advice. It is not to be relied upon as a full statement of the law. You should seek professional advice for your specific needs and circumstances before acting or relying on any of the content.
