About the AUSTRAC supervisory levy
The AUSTRAC supervisory levy is an annual charge on reporting entities to pay for the costs of AUSTRAC's regulation.
AUSTRAC supervisory levy model and charging structure
AUSTRAC's supervisory levy model and charging structure is outlined in the Cost Recovery Impact Statement (CRIS) (January 2012) (PDF, 5.6MB), which supersedes the Cost Recovery Impact Statement (CRIS) (May 2011) (PDF, 171KB) that was released on 12 May 2011.
The amount of the AUSTRAC supervisory levy is determined annually by a Ministerial Determination. The total amount to be collected in a financial year cannot be greater than the costs of AUSTRAC's regulatory activity and is determined in accordance with the Government's usual budgetary practices and subject to savings measures such as the application of the efficiency dividend. The Ministerial determination for the 2011-12 financial year is available to view.
A reporting entity's liability to pay the levy is determined on census day. For the 2011-12 financial year the AUSTRAC CEO has determined the census day is 10 February 2012. The Census Day determination for the 2011-12 financial year is available to view.
Consultation
Cost Recovery Impact Statement (revised December 2011) - Exposure Draft
AUSTRAC released its revised Cost Recovery Impact Statement - Exposure Draft outlining AUSTRAC's revised supervisory levy model and charging structure. The key revisions related to the large entity component charging tiers as well as introducing a cap on the transaction reporting component payable by a group of leviable entities. The closing date for submissions was 25 January 2012.
CRIS - revised December 2011 (PDF, 266KB)
Draft Ministerial Determination, enrolment information and draft Privacy Impact Statement
The draft Ministerial Determination, information proposed to be collected by AUSTRAC through the enrolment process and the draft Privacy Impact Statement were released for public consultation. The closing date for submissions was 9 June 2011.
Draft Ministerial Determination (PDF, 22KB)
Proposed Enrolment Information (PDF, 35KB)
Draft Privacy Impact Assessment (PDF, 429KB)
Cost recovery for AUSTRAC's regulatory functions - further consultation regarding an alternative definition of a large entity
AUSTRAC undertook further consultation regarding an alternative definition of a large entity in relation to cost recovery for AUSTRAC's regulatory functions. The closing date for submissions was 4 April 2011.
Cost recovery for AUSTRAC's regulatory functions (PDF, 43KB)
Cost Recovery Impact Statement - Exposure Draft
AUSTRAC released its Cost Recovery Impact Statement - Exposure Draft in relation to anti-money laundering and counter-terrorism financing regulatory activities on 11 February 2011. The closing date for submissions was 25 February 2011.
Cost Recovery Impact Statement - Exposure Draft (PDF, 264KB)
Discussion paper - Cost recovery for AUSTRAC's regulatory functions
AUSTRAC released a discussion paper on the proposed cost recovery model for AUSTRAC's regulatory activities on 12 November 2010. The closing date for submissions was 10 December 2010.
Discussion paper - Cost recovery for AUSTRAC's regulatory functions (PDF, 330KB)
Click here to view the published submissions on the discussion paper.
Further information
AUSTRAC supervisory levy FAQs (PDF, 146KB)
