ASIC industry funding

ASIC Regulatory Portal for the 2019-20 annual reporting cycle

To enable ASIC to calculate invoices, entities are required to submit or confirm pre-filled business activity metric data on the operation of their business for the 2019-20 financial year. This will be done via the ASIC Regulatory Portal.

Lodgements are required to be submitted between 28 July 2020 to 1 October 2020.

ASIC will use the information provided to calculate an entity's share of the regulatory costs for the 2019-20 financial year.

Industry funding invoices to recover ASIC's FY2019-20 regulatory costs will be issued at the end of January 2021.

ASIC Regulatory Portal account holders will be able to log in to view and pay their entity's invoice online.

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

ASIC Regulatory Portal now closed for the 2018-19 annual reporting cycle

Lodgements of the 2018-19 annual reporting cycle closed on 4 October 2019.

Industry funding invoices to recover ASIC's FY2018-19 regulatory costs were issued at the end of January 2020. The invoices were due for payment on the 18 March 2020.

ASIC Regulatory Portal account holders can log in to view and pay their entity's invoice online.

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

More information about industry funding invoices

Estimating next year's invoice

ASIC publishes indicative levies to give those regulated under industry funding laws an indication of what actual levy costs to expect. The indicative levies each year will be our best estimate based on information available to us. Industry can use the data in the CRIS to estimate their invoice for next year, noting that the figures remain an estimate are likely to change.

More information about the CRIS and indicative levies.

Background information about industry funding

The Government's industry funding arrangements for ASIC became law in 2017.

This was the first year of the new regime where ASIC will recover most of its regulatory costs from regulated industries.

Industry funding was a key recommendation in the 2014 Murray Financial System Inquiry.

Developing the model was a substantial undertaking with a high level of robust engagement from industry sectors throughout the Government's consultation process.

Annual timeline

January: ASIC to issue invoices.

March: invoices due for payment.

March: indicative levies published for the following leviable year to help industry plan as part of Cost Recovery Implementation Statement.

April: penalties for late payment of invoices apply.

July-September/October: regulated entities required to maintain contact details and submit an annual return via the ASIC Regulatory Portal (business activity metrics).

November: Government to publish ASIC's regulatory costs as part of two legislative instruments.

November/December: ASIC to publish its actual cost as part of Annual Dashboard Report as soon as practicable after Government's tabling of legislative instruments.

More information

ASIC industry funding

Cost Recovery Implementation Statement 2019-20

12 June 2020

A consultation version of the Cost Recovery Implementation Statement 2019-20 (CRIS)  has been released.

Read the draft CRIS

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: 28/07/2020 04:55