When is my invoice due?
Industry funding invoices are due for payment in March of each leviable year.
How do I pay my invoice?
The payment options outlined on your invoice include BPAY and Electronic Funds Transfer.
BPAY
Use the BPAY details provided on your invoice to pay using BPAY. You must ensure the BPAY reference number is correct. The BPAY reference number will begin with the digits ‘309’.
Ensure you allow three business days for electronic processing.
Electronic Funds Transfer
Use the Electronic Funds Transfer details provided on your invoice 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 ‘309’.
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 industry funding invoice and make a payment online.
How did ASIC calculate the levy amount shown on my invoice?
Your invoice contains details explaining how your levy was calculated. The detailed information about how we calculate industry funding levies is outlined in the ASIC cost recovery regulations.
What happens if I don't pay?
There are penalties for late payment of industry funding levies, which are calculated and charged for each month after the payment deadline. The late payment penalty is calculated as 20% per annum of the overdue levy amount.
For example, if the overdue amount is $391, a late payment penalty of $6.52 will be added each month to the total amount payable ($391 x 20% / 12 months = $6.52 per month).
Penalties apply from 1 April of each leviable year.
Should the outstanding balance remain unpaid, ASIC may deregister the entity.
Can I apply for a levy waiver or penalty waiver?
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. How to apply for an industry funding levy or penalty waiver.
What happens if I have overpaid?
You can request a refund if you have accidently overpaid. We will provide a refund in the same way you made payment. Details on industry funding refunds.
Can I apply for a payment plan?
In some cases, we can arrange a payment plan that allows you to make industry funding payments in instalments.
Details on how to apply for a payment plan.
Why is my levy amount different from the estimate I calculated?
The levies payable by industry sectors to recover ASIC's regulatory costs are summarised in December each year. The amounts published in December were rounded up to two decimal points.
Entities are able to estimate their levy amount based on this information.
The actual levy amount outlined on each invoice was calculated on a value up to 10 decimal points.
Detailed information about how ASIC calculates levies is available in the ASIC cost recovery regulations.
Example: for the listed corporations subsector, the December 2018 summary states $0.30 per $10,000 of market capitalisation above $5m. The actual calculation of the levy has been calculated based on $0.3007334408 per $10,000 of market capitalisation above $5m.
ASIC cost recovery regulations.
ASIC industry funding summary of 2018‒19 levies (PDF 43 KB)
Why didn't I receive my invoice online?
If you have received an invoice via mail (rather than online) it means that you may not have registered an ASIC Regulatory Portal account to confirm or submit relevant information to ASIC. In these cases, ASIC has used the data available to calculate each entity’s share of the regulatory costs for the sector(s) in which it operates.
Your invoice contains details explaining how your levy was calculated. The detailed information about how we calculate industry funding levies is outlined in the ASIC cost recovery regulations.
All entities regulated by ASIC must pay their levy invoice by the due date in March each year.
Why have I received an invoice for a 'large proprietary company' flat levy?
All entities regulated by ASIC must pay their levy invoice by the due date in March.
In July ASIC contacted entities that we considered could be large proprietary companies. Directors are required to register contact details on the ASIC Regulatory Portal and where relevant, submit or confirm business activity metrics by the due date in September.
During this process the entity was given the opportunity to 'opt-out' of the sector by confirming whether or not the entity was a large proprietary company at any time during the relevant financial year.
If directors failed to meet this reporting obligation, ASIC has issued invoices on the basis that these companies are large proprietary companies.
Definition of a small proprietary company.
Definition of a large proprietary company.
I didn’t know I had industry funding obligations, am I still required to pay my levy?
All entities regulated by ASIC must pay their levy invoice by the due date in March.
In July, ASIC contacted each industry funding stakeholder with detailed instructions on how to meet their obligations.
For those that failed to meet this reporting obligation, ASIC has used the data available to calculate the entity’s share of the regulatory costs for the sector in which it operates.
The Government's industry funding arrangements for ASIC became law in 2017.
What happens if I changed the type of my company part way through the financial year?
In these cases, your industry funding invoice will contain levies for two subsectors. Example: the invoice for an unlisted public company that was changed to a large proprietary company will have levies for both of these subsectors.
Why have I received an invoice when I cancelled or varied my licence during the financial year?
Industry funding levies are payable by all entities operating in a subsector in any given financial year - irrespective of the duration the licence was held for that year.
I am a charity. Why have I received an invoice?
Entities that are registered with the Australian Charities and Not-for-profits Commission (ACNC) as at 30 June each year are exempt from ASIC's industry funding levy for each relevant financial year.
If you received a levy invoice for a company that acted solely as the trustee of a charity registered with the ACNC, you may request ASIC waive this levy.
We will require you to attach a statutory declaration signed by a company director or secretary stating that the company undertook no other activities during the relevant financial year other than as trustee of a charity registered with the ACNC.
Details on how to apply for an industry funding levy waiver.
I have received an email notification from ASIC that an industry funding invoice is ready to view online, how do I view the invoice?
ASIC Regulatory Portal account holders can log into their portal account to view their industry funding invoice and make a payment online. The page has information on what to do if you have forgotten your password.
If you are not a registered portal user, you need to be invited to connect to the entity by the senior administrator of the portal account before you can log in and view the invoice.
What the senior administrator of the portal account needs to do
If the alternative email address nominated is
not owned by you – follow these steps if you would like them to be able to view
the invoice. Follow these steps for each of your entities as required.
- Log in to your portal account.
- Select your entity.
- Click on ‘Administration’ in the banner and select ‘Entity Contacts’.
- Make a note of the alternate email address you nominated to receive your industry funding levy invoice.
- Select the ‘Users’ tab.
- Select ‘Invite new user to entity' and insert the alternate email address noted in step 4.
- Allocate their Access level.
We will send an invitation key to your billing contact. Note: This invitation key will be valid for 48 hours.
What the alternate email address nominated to receive the industry funding levy invoice needs to do
- Click on the link in the email received from ASIC.
- Register for portal access by selecting the “I want to accept an invitation from a portal user” tile.
- Enter the invitation key (which was sent to their email address) and other details to complete the registration process.
Note: The invitation key will be valid for 48 hours.
A detailed guide on the invitation process is available.
Where can I find out more information about industry funding?
More details information about industry funding can be found in our FAQ section.
