When to pay

CSLR levy notices are due for payment 30 business days after date of issue.

How to pay

The payment options outlined on your levy notice include BPAY, Electronic Funds Transfer and credit card.

BPAY

Use the BPAY details provided on your levy notice to pay using BPAY. You must ensure the BPAY reference number is correct. The BPAY reference number will begin with the digits ‘409’.

Ensure you allow three business days for electronic processing.

Electronic Funds Transfer

Use the Electronic Funds Transfer (EFT) details provided on your levy notice to transfer directly from your financial institution. You must ensure the Electronic Funds Transfer reference number is correct. The Electronic Funds Transfer reference number will begin with the digits ‘409’.

Paying on behalf of multiple entities?

Limitations with EFT mean that ASIC cannot identify your payment without an accurate reference number included in the transaction.

If ASIC is unable to identity an EFT payment as being associated with your entity or entities, you may incur late payment penalties.

If you are paying a total amount on behalf of multiple entities, you must ensure that you send remittance advice to: regulatorypayments@asic.gov.au.

This will ensure that the money you have paid to ASIC can be allocated to the correct account.

Credit card

The credit card payment option is available using the ASIC Regulatory Portal. Portal account holders can log in to their portal account to view their CSLR levy notice and make a payment online.

Help with paying

In some cases, we can arrange a payment plan that allows you to make CSLR levy payments in instalments.

Payment plans for CSLR levies and penalties are available in cases of financial hardship. A payment plan allows you to pay your levy by instalments. Late payment penalties will be suspended while the payment plan is in place and complied with.

We encourage you to contact ASIC as soon as possible before the levy notice payment due date to determine whether you are eligible for a payment plan.

To apply for a CSLR payment plan, log in to your ASIC Regulatory Portal account and complete the Apply for a Compensation Scheme of Last Resort (CSLR) levy payment plan transaction. You will be required to provide the following information as part of your application:

• Entity details
• Amount requested for payment plan
• Frequency of payment (weekly, fortnightly, monthly)
• Instalment amount
• Reason why you require a payment plan
• Supporting documentation to substantiate claims of financial hardship.

If you don't pay

If payment is not received by the due date, late payment penalty of 20% p.a. calculated monthly will apply until your levy is paid.

If your levy is not paid in full after 12 months, ASIC may cancel your licence and deregister your company.

See CSLR penalties for more information.

Applying for a levy or penalty waiver

ASIC has the power to waive CSLR levies and penalties in exceptional circumstances.

We will only consider waiving a levy or penalty in exceptional circumstances when there were issues beyond the control of all representatives of the entity.

All applications to ASIC must include evidence to substantiate the application. ASIC will assess each application on a case-by-case basis, responding with a decision within 28 days of receipt of the waiver application. Late payment penalties will be suspended while the waiver application is being considered.

Examples of exceptional circumstances include:

Death

Death of an immediate family member, including death of the officeholder or licensee.

Serious illness

Prolonged medical issue limiting the individual’s ability to meet their obligations.

Natural disaster

This includes events such as flood, fire, drought, cyclones, earthquake and similar events or disasters that may have, or had, a significant impact on individuals, regions or industries.

Court caused delay

Including impeded access to records and bank account (for example records seized and bank accounts frozen during legal proceeding).

To apply for a waiver, you are required to submit an Apply for a Compensation Scheme of Last Resort (CSLR) levy and/or penalty waiver transaction through the ASIC Regulatory Portal.

Review of a levy/penalty waiver decision

If you are not satisfied with a waiver decision ASIC has made, you can request a review of our decision by submitting a further waiver application, together with any additional information or evidence to support your application. ASIC will respond with a decision within 30 business days of receipt of the waiver application. Late payment penalties will be suspended while the waiver application is being considered.

If you are dissatisfied with the results of ASIC’s review you can a make an application to the Administrative Appeals Review Appeal Tribunal (ART) for a review.

If you’ve overpaid

You can request a refund if you have accidently overpaid.

How you request a refund will depend on how you made your initial payment.

Generally, we will provide our refund in the same way you made payment.

If you overpaid the full levy amount using BPAY

You'll need to contact your financial institution (e.g. bank) to reverse any BPAY payments made to ASIC.

If you overpaid part of the levy amount using BPAY

You can contact us online if you would like your payment refunded.

Include the following details:

• the CSLR levy notice number
• the entity name and account number that the payment was made to
• contact details (full name, phone number, postal address, and email)
• bank statement displaying account name, BSB and account number
• date payment was made
• amount to be refunded and
• proof of payment (e.g. copy of bank statement).

If you want a refund by EFT

You can contact us online if you would like your payment refunded by EFT.

Include the following details:

• the CSLR levy notice number
• the entity name and account number that the payment was made to
• contact details (full name, phone number, postal address, and email)
• bank statement displaying account name, BSB, and account number
• date payment was made
• amount to be refunded and
• proof of payment (e.g. copy of bank statement).

If you haven't received your refund within 21 days of your request, please contact us online.