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AUSTRAC consultation

Open for consultation

Issues paper – review of the AUSTRAC industry contribution levy arrangements

The operating costs of the Australian Transaction Reports and Analysis Centre (AUSTRAC) are recovered through an industry contribution levy on reporting entities, authorised and administered by the Australian Transaction Reports and Analysis Centre Industry Contribution Act 2011 (Levy Act) and the Australian Transaction Reports and Analysis Centre Industry Contribution (Collection) Act 2011 (Collection Act).  As amended in 2014, the Collection Act contains a provision for an independent review of the operation of the levy after four years, and the preparation of a report to the Minister.

AUSTRAC has commissioned Acacia CRE Pty Ltd (Acacia CRE) to undertake the review and prepare the report.

The Collection Act requires the review to include consultation with industry participants about the impact of the levy and the costs of compliance. Industry consultation initially will be via assessment of written submissions from stakeholders currently or potentially impacted by the levy and from other interested parties. Further consultation may be arranged if it appears warranted after the receipt and review of submissions.

Consultation timeline

Key dates are set out in the following proposed timeline:

19 November 2018 Publication of an issues paper and a call for written submissions from interested parties
21 December 2018 Deadline for written submissions
Late January 2019 Arrange further consultation (if required)
Early February 2019  Possible further consultation
Mid-March 2019  Submission of final report

Submissions

Written submissions in PDF format and addressing the issues discussed in this paper, and any other issues that may be directly relevant to the objectives of the review, should be sent directly to Acacia CRE Pty Ltd at the following address:

Levy_Review@Acacia-CRE.com.au

Submissions close midnight on Friday 21 December 2018.  Submissions received after that time may still be taken into consideration, but it may not be possible to take fully into account the information they contain or to follow up the issues raised in any further consultation.

Links to submissions will be listed below soon after receipt unless marked and noted as containing confidential information. If confidential in part, a redacted version suitable for publication should also be submitted.

Closed

AUSTRAC industry contribution 2018-19 – stakeholder consultation paper

AUSTRAC sought stakeholder feedback on the consultation paper for the 2018-19 industry contribution:

AUSTRAC industry contribution 2018-19 – stakeholder consultation paper (Word, 162KB)

AUSTRAC industry contribution 2018-19 – stakeholder consultation paper (PDF, 276KB)

The consultation paper includes a draft Ministerial Determination outlining the proposed charging model for determining component amounts of the 2018-19 industry contribution levy. Consultation closed on Friday 22 June 2018.

Last modified: 20/11/2018 11:34