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CSLR special levy

A special levy may be imposed when where the CSLR operator’s revised estimated costs for a subsector exceed the annual levy cap.

Special levy for 2025–26

For the 2025-26 CSLR levy period, the CSLR operator made a revised cost estimate of $75.698 million to cover eligible compensation claims and scheme costs. Of this amount, $67.289 million was allocated to the personal financial advice subsector, exceeding the legislated annual levy subsector cap of $20 million and resulting in a $47.3 million shortfall. The CSLR operator notified the Minister of this shortfall on 4 July 2025.

The Minister has discretion to impose a special levy, including determining who the levy applies to and the amount of the levy. On 11 December 2025, the Assistant Treasurer and Minister for Financial Services determined the subsectors required to pay the special levy, and the amounts attributable to each subsector, following a consultation process undertaken by Treasury.

Visit the CSLR website for information about the revised estimate.

Who is subject to the special levy?

A special levy may be imposed when where the CSLR operator’s revised estimated costs for a subsector exceed the annual levy cap. Entities that are, or were, members of a subsector determined by the Minister to contribute to the special levy during the relevant qualifying period will be required to pay this levy.

How are special levies calculated?

Special levies are calculated in accordance with the Financial Services Compensation Scheme of Last Resort Levy Regulations 2023. ASIC uses the amounts specified in the Minister’s determination for each subsector and applies the relevant business activity metrics for the qualifying period to calculate each entity’s levy amount.

For the 2025–26 levy period, ASIC will use the 2023–24 Industry Funding business activity metrics to calculate levy amounts.

Summary of special levies

The summary of special levies for the 2025-26 levy period is to assist entities in understanding how the special levy amounts have been calculated.

Subsector

Period Estimates1

Number of entities

Levy metric and description

Actual levy amounts1

Claims handling and settling services providers

$1,593,339.80

329

The number of claims relating to insurance products that the entity provided claims handling and settling
services for in the financial year

Levy of $0.231 per claim under insurance products in relation to which the entity provides claims handling and settling services

Credit intermediaries

$667,529.41

4,137

Credit representatives and number of days authorised

Levy of $6 per credit representative

Credit providers

$7,230,226.06

1,013

Credit provided in the financial year (contracts other than small and medium amount credit contracts)

Levy of $9.18 per $1 million of credit provided above $100 million (for other than small and medium amount credit contracts)

Custodians

$146,832.10

485

Flat levy

$303

Deposit product providers

$1,005,235.13

135

Total deposits

If the entity’s metric exceeds $10 million $0.33 per $1 million of total deposit liabilities above $10 million

Insurance product distributors

$194,461.54

2,985

Flat levy

$65

Insurance product providers

$2,597,907.36

93

Gross premium and net policy revenue

Levy of $0.41 per $10,000 of revenue above the $5 million threshold

Large futures exchange participants

$196,376.80

14

Volume of messages

Levy of $15.95 per 10,000 messages

Large securities exchange participants

$4,406,958.61

39

Volume of messages

Levy of $11.95 per 10,000 messages

General financial advice providers

$645,887.01

999

Flat levy

$647

Financial advisers on non-relevant products to retail clients

$20,981.47

564

Number of days authorised

$38 for an entity who held a licence for a full year

Financial advisers on relevant products to retail clients

$10,389,867.63

2,677

Adjusted number of advisers on the financial advisers register and number of days authorised

Levy of $651 per adviser

Managed discretionary account providers

$221,997.94

210

Number of days authorised

$1,122 for an entity who held a licence for a full year

Margin lenders

$1,042.52

22

Number of days authorised

$48 for an entity operating for a full year

Operators of an investor directed portfolio service (IDPS)

$30,376.88

70

Revenue from IDPS activity

Levy of $27.00 per $1 million of revenue

Payment product providers

$1,209,598.51

505

Revenue from payment product provider activity

Levy of $2.45 per $10,000 of total revenue from payment product provider activity

Responsible entities

$6,489,313.20

396

Adjusted total assets and number of days authorised

Levy of $4.01 per $1 million of assets above the $10 million threshold

Retail OTC derivative issuers

$1,171,359.78

79

Number of days authorised

$15,628 for an entity who held a licence for a full year

Risk management product providers

$23,146.70

47

Number of days authorised

$505 for an entity who held a licence for a full year

Securities dealers

$1,193,020.84

1,105

Annual transaction turnover value

Levy of $11.88 per $1 million of annual transactions in securities on a large securities exchange

Small credit providers

$1,639,508.05

350

Credit provided in the financial year under small and medium amount credit contracts

$13.17 per $10,000 of credit provided under small and medium credit contracts

Superannuation trustees

$6,100,082.25

78

Adjusted total assets and number of days authorised

Levy of $2.49 per $1 million of assets above the $250 million threshold

Traditional trustee company service providers

$113,950.44

9

Number of days authorised

$12,661 for an entity who held a licence for a full year

1 Levy amounts have been rounded.

Notices for the special levy

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

  • The CSLR operator registers a revised estimate (notifiable instrument) on the Federal Register of Legislation after the start of the levy period (1 July) and notifies the Minister that the revised estimate exceeds the $20 million subsector cap
  • If the Minister determines a special levy needs to be imposed, a Ministerial legislative instrument must be registered on the Federal Register of Legislation
  • The Ministerial 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 special 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 business days after issue.

Relevant legislation