Entities regulated by ASIC will need to submit certain business activity metrics before 27 September 2022.

ASIC will use these metrics to calculate the levy the organisation needs to pay under the industry funding arrangements.

ASIC’s checklist provides a summary of the business activity metrics entities need to submit to ASIC to comply with their industry funding obligations.

In some cases ASIC calculates the levy on a flat levy basis. In other cases, it calculates the levy on a graduated basis or a combination of the two. Where graduated levies apply, entities must report and/or verify their entity’s level of business activity for the financial year. ASIC will use these business activity metrics to determine levies for the subsector(s).

Entities will be charged a levy for each subsector they were authorised to operate in at any time during the year.

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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.