AUSTRAC Industry Contribution Act
The AUSTRAC supervisory levy has been replaced with the AUSTRAC industry contribution, as announced by the Government on 13 May 2014 as part of the Budget.
The legislation to enable AUSTRAC to recover the costs of its supervisory activities from the businesses it regulates is set out in two Acts:
- Australian Transaction Reports and Analysis Centre Industry Contribution Act 2011
- Australian Transaction Reports and Analysis Centre Industry Contribution (Collection) Act 2011
The industry contribution for each financial year is set by way of Ministerial Determination:
For more information, go to the AUSTRAC industry contribution page.