Note: Tables 10 to 16 of the consultation paper have been updated to address an incorrect allocation of $3.1 million relating to supervision of the largest and most complex institutions, that was deferred to 2020-21, across all industries. This funding was deferred due the largest ADIs reaching their restricted levy statutory upper limit for 2019-20 and has been revised to better reflect this. The tables have been updated for this adjustment, and the maximum for the restricted component of the levy for ADIs has also been lifted from $3 million to $3.125 million reflecting the latest CPI result. There have not been any changes to policy outlined in the paper.
This paper, prepared in conjunction with the Australian Prudential Regulation Authority (APRA), seeks submissions on the proposed financial institutions supervisory levies that will apply for the 2019-20 financial year.
The financial industry levies are set to recover the operational costs of APRA and other specific costs incurred by certain Commonwealth agencies and departments, including the Australian Securities and Investments Commission, the Australian Taxation Office, and the Australian Competition and Consumer Commission.