- What are indicative levies?
- 2017–18 indicative levies
- Actual levies and the legislative instrument
- What do regulated entities need to do?
Indicative levies are estimates of our cost recovery levies, based on our budgeted allocation of regulatory costs for each financial year and estimates of the population and business activity metrics (metrics) for each of the 48 subsectors to which levies apply.
Indicative levies support the business planning and budgeting of ASIC's regulated entities. This is in line with our objectives to improve our cost transparency and accountability to industry.
Our forecast for the 2017–18 regulatory costs to be recovered by ASIC's cost recovery levies is $238 million.
The summary of indicative levies for 2017–18 sets out how we have allocated these forecast costs to the subsectors we regulate.
Report 570 Indicative levies for ASIC industry funding: 2017–18 (REP 570) contains further detail.
Subsectors without indicative levies
For some subsectors, we are unable to issue indicative levies for the 2017–18 financial year because we do not currently collect the relevant metrics.
See REP 570 for more information.
Changes to indicative levies
Levies will differ from year to year with changes in ASIC's business plans, budget and enforcement activities.
See the Cost Recovery Implementation Statement (CRIS) for more detail about changes to the 2017–18 indicative levies.
Actual levies will be calculated using:
- the actual cost of ASIC's regulation of each subsector in 2017–18
- the number of regulated entities during 2017–18
- data from business activity metrics submitted by regulated entities.
This will ensure that entities are only charged for the actual costs of regulating their subsector.
Around November each year we will issue a legislative instrument setting out our regulatory costs for the previous financial year and how these costs are allocated.
Each year, regulated entities will be required to provide us with their metrics for the previous financial year through the ASIC Regulatory Portal.
From June 2018, we will begin to send letters with more information to the person listed as an organisation's contact.
Data collected will enable us to calculate each entity's share of the 2017–18 regulatory costs. We will issue industry funding invoices for the 2017–18 financial year in January 2019.
Small proprietary companies
Small proprietary companies not operating in one of the 48 subsectors will not need to visit the portal, or submit or validate business activity metrics. Our regulatory costs for small proprietary companies will be collected through an increase of $4 to their annual review fee, from 1 July 2018. This was designed as the most efficient way to recover our regulatory costs from small proprietary companies while minimising their regulatory burden.