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CSLR annual levy

The annual CSLR levy is imposed each year on relevant entities to fund the ongoing operation of the Compensation Scheme of Last Resort.

Who is subject to the annual levy?

The CSLR is funded by an annual levy payable by:

  • licensees that provide personal advice to retail clients on relevant financial products
  • credit providers
  • credit intermediaries
  • securities dealers.

How are annual levies calculated?

The CSLR operator determines the total estimated costs in each subsector for the relevant levy period. Visit the CSLR website for information about the estimate.

ASIC uses the estimate determined by the CSLR operator to calculate the leviable amount per entity. The amount of levy imposed on a person in a subsector is the sum of:

  • the minimum levy component ($100), and
  • the graduated levy component.

Where the CSLR levy estimate for a particular subsector exceeds $20 million, the CSLR legislation caps the amount that can be levied at $20 million. For example, if the CSLR estimates the costs for a subsector to be $50 million, ASIC will calculate the subsector annual levy based on the $20 million cap. Whether the remaining amount (e.g. $30 million) is imposed as a special levy is subject to the Minister’s discretion and is subject to a parliamentary disallowance process.

ASIC will use the 2024-25 Industry Funding business activity metrics to calculate the leviable amounts for the 2026-27 CSLR levy period. This instrument relates to ASIC’s metric collection:

The method for calculating an individual entity’s levy is set out in the Financial Services Compensation Scheme of Last Resort Levy Regulations 2023.

Summary of annual levies

The summary of levies for the 2026-27 levy period is to assist entities in understanding how the annual levy amounts have been calculated.

Subsector Period Estimates 1 Number of entities Levy metric and description Actual levy amounts 2
Credit providers $2.003 million 987 Credit provided in the financial year (contracts other than small and medium amount credit contracts) Minimum levy of $100 plus $2.28 per $1 million of credit provided above $100 million (for other than small and medium amount credit contracts)
Credit intermediaries $2.156 million 4,095 Credit representatives and number of days authorised Minimum levy of $100 plus $37 per credit representative
Securities dealers $6.484 million 1,164 Annual transaction turnover value Minimum levy of $100 plus $57.40 per $1 million of annual transactions on a large securities exchange
Financial advisers on relevant products to retail clients $20 million 3 2,581 Adjusted number of advisers on the financial advisers register and number of days authorised Minimum levy of $100 plus $1,312 per adviser

1 Amounts are rounded to the nearest $1000.

2 Levy amounts have been rounded.

3 The total estimate for the subsector is $126.851 million, however ASIC is required to cap the annual levy at $20 million. Whether the remaining amount (e.g. $106.851 million) is imposed as a special levy is subject to the Minister’s discretion. For more information refer to the special levy FAQ.

Notices for the annual levy

Before ASIC can issue the annual levy notices, the following steps must take place:

  • The CSLR operator registers the levy instrument and explanatory memorandum on the Federal Register of Legislation
  • The instrument is tabled in each House of Parliament within 6 sittings days of being registered
  • A ‘Disallowance period’ of 15 sitting days for each House of Parliament needs to be satisfied.

ASIC aims to issue notices for the 2026-27 annual levy within 30 days of the disallowance period ending.

The levy notices will be available for account holders via the ASIC regulatory portal. For those not yet registered on the portal, the notice will be sent via mail to the address registered with ASIC. Levies will be due for payment 30 days after issue.

Relevant legislation