Industry contribution levy
The industry contribution levy is an annual payment that some reporting entities must pay. This levy covers AUSTRAC’s operating costs.
Who pays the levy
Whether you have to pay the levy depends on your earnings and the number and value of transactions you have reported to us. Usually, only medium to large businesses are required to pay the levy. These are businesses with one of more of the following:
- earnings of A$100 million or more
- a large number of transaction reports relative to other entities
- a high total value of transaction reports lodged with AUSTRAC during a calendar year, relative to other entities.
If you receive an invoice from AUSTRAC, you must pay the levy.
How to pay your industry contribution levy
You can pay your industry contribution by BPAY, credit card, cheque or electronic funds transfer (EFT). You will find details of these payment methods are on your invoice.
Credit card payment details are provided in the next section.
Pay your industry contribution levy by credit card
You can pay your industry contribution levy by credit card through the Reserve Bank of Australia's Government EasyPay service.
This is a secure service provided to AUSTRAC by the Reserve Bank of Australia using the Optus Smartpay service
You will need:
- a current Visa, MasterCard or American Express card
- your reference number, abbreviated as 'Ref' in the 'Payment options' section of your invoice.
Credit card payment fee
A fee applies to transactions made using EasyPay. This fee is not subject to goods and services tax (GST) and is equal to the fee AUSTRAC incurs.
You will be told the fee amount and transaction total before you confirm your payment.
Government EasyPay processing times
Your payment needs to reach us on or before its due date. Transactions made on a weekend, national public holiday or after 6pm Sydney time will be processed on the next business day.
You will receive a receipt from Government EasyPay for the AUSTRAC industry contribution payment and the credit card payment fee.
By clicking on this link you will leave the AUSTRAC website and enter the Government EasyPay service for credit card payments.
How we calculate the levy
The amount AUSTRAC collects via the levy is based on our annual operating expenses. Every year we publish the formula we plan to use to calculate the levy for that year.
Although the exact formula changes from year to year, the levy your business is charged (if any) is based on a combination of:
- your most recent published earnings
- the number and value of transactions you reported to AUSTRAC in the previous calendar year.
We consult with industry groups and other interested people every year. We welcome submissions about the proposed formula.
When there is an open consultation about the industry contribution, you will find a link on this page.
After the consultation is over and the final formula is decided, it is made official by a Ministerial Determination.
What you need to do
To make sure you are invoiced the correct amount you must:
- keep your business earnings up to date in AUSTRAC Online
- submit transaction threshold reports and international funds transfer instruction reports when required.
If you believe your invoice is incorrect
If you believe we have invoiced you incorrectly, or for the wrong amount, complete and submit a levy dispute form (Word, 71KB).
The content on this website is general and is not legal advice. Before you make a decision or take a particular action based on the content on this website, you should check its accuracy, completeness, currency and relevance for your purposes. You may wish to seek independent professional advice.