ASIC industry funding

ASIC Regulatory Portal now closed for the 2019‑20 annual reporting cycle

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

Lodgements closed on 1 October 2020.

ASIC used the information provided to calculate each entity's share of the regulatory costs for the previous financial year.

Industry funding invoices to recover ASIC’s FY 2019-20 regulatory costs were issued in March 2021.

Publications relating to ASIC’s FY 2019-20 regulatory costs:

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

4 March 2021

The final 2019-20 Cost Recovery Implementation Statement (CRIS) has been released.

Read the media release and 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: 30/03/2021 09:22