To enable ASIC to calculate invoices, entities are required to submit or confirm pre-filled business activity metric data on the operation of their business for the 2022-23 financial year. This will be done via the ASIC Regulatory Portal.
Lodgements must be submitted between 25 July 2023 to 27 September 2023.
ASIC will use the information provided to calculate an entity’s share of the regulatory costs for the 2022-23 financial year.
ASIC Regulatory Portal account holders will be able to log in to view and pay their entity’s invoice online. For those not registered on the portal, the invoice will be sent via mail to the address registered with ASIC.
The industry funding model for ASIC:
- ensures that the costs of the regulatory activities undertaken by ASIC are borne by the entities ASIC regulates, rather than Australian taxpayers
- establishes price signals in the way resources are allocated within ASIC
- provides economic incentives to drive the Australian Government’s desired regulatory outcomes for the financial system
- provides greater stability and certainty in ASIC’s funding and ensures that ASIC is adequately resourced to carry out its regulatory mandate
- improves ASIC’s cost transparency and accountability to industry.
Why you should care
- ASIC will use the data to calculate your levy, so missing this date can have a direct financial impact on you.
- ASIC use this data for a variety of other reasons too so make sure it’s accurate.