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's supervisory levy model and charging structure is outlined in an annual Cost Recovery Impact Statement (CRIS).
The amount of the 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 will be determined in accordance with the government's usual budgetary practices and subject to savings measures such as the application of the efficiency dividend.
A reporting entity's liability to pay the levy is determined on census day.
The Ministerial Determination and CRIS for previous financial years are available to view on the supervisory levy legislation page.
AUSTRAC supervisory levy for 2013-14
AUSTRAC's cost recovery arrangements commenced in the 2011-12 financial year. AUSTRAC is now in its third year of cost recovery and is required to prepare a Cost Recovery Impact Statement (CRIS) to outline the arrangements for the 2013-14 financial year.
Consistent with the process adopted in 2012-13, AUSTRAC has released a draft CRIS for public consultation (see below).
Interested parties can make a submission to AUSTRAC in writing (see below for details). AUSTRAC will consider all submissions and make any amendments to the model if appropriate, prior to finalising the arrangements for 2013-14.
It is expected that for the 2013-14 levy, entities will be invoiced from late July 2013.
Cost Recovery Impact Statement for 2013-14 - current consultation
AUSTRAC has released, for public consultation an exposure draft of the Cost Recovery Impact Statement (CRIS) for the 2013-14 financial year. The draft document outlines AUSTRAC's supervisory levy model and charging structure. The closing date for submissions is 21 May 2013. All submissions, unless expressly marked as confidential, will be published on the submissions page of the AUSTRAC website.
Cost Recovery Impact Statement 2013-14 exposure draft (Word, 243KB)
Cost Recovery Impact Statement 2013-14 exposure draft (PDF, 483KB)
Making a submission:
PO Box 5516
WEST CHATSWOOD NSW 1515
(02) 9950 0054
Please note: All submissions will be treated as public documents and may be published on AUSTRAC's website at the end of the consultation period. You should mark your submission clearly if you do not wish your submission to be made public.
More information about the supervisory levy can be accessed on the AUSTRAC supervisory levy FAQs page.