Industry funding invoices

Industry funding invoices to recover ASIC's FY 2017-18 regulatory costs were due for payment on 15 March 2019. Pay now to avoid late payment penalties, which apply from 1 April 2019. 

ASIC Regulatory Portal account holders can log in to view and pay their entity's invoice online if they have not already done so. 

For those not yet registered on the portal, the invoice was sent via mail to the address registered with ASIC.

When to pay

ASIC industry funding invoices were due for payment by 15 March 2019.

How to pay

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 (EFT) 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’.

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: epaymentenquiries@asic.gov.au

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

Credit card

The credit card payment option using the ASIC Regulatory Portal is only available if you received your invoice online. Portal account holders can log in to their portal account to view their industry funding invoice and make a payment online.

Help with paying

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

Details on applying for an industry funding payment plan. 

If you 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 2019.

Should the outstanding balance remain unpaid, ASIC may deregister the entity.

Applying for a levy 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.

Details on applying for an industry funding levy or penalty waiver.

Invoice FAQs

Visit our frequently asked questions page for more information about industry funding invoices.

ASIC industry funding

Industry funding: what you need to know

Video Thumb Industry Funding What You Need To Know

Watch the video

More about industry funding

Last updated: 20/03/2019 04:28