Treasury has released for consultation a discussion paper, prepared in conjunction with the Australian Prudential Regulation Authority (APRA), seeking submissions on the proposed financial institutions supervisory levies that will apply for the 2018/19 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 ATO, and the Australian Competition and Consumer Commission.
Interested parties are invited to comment on this consultation. Responses can be submitted up until 8 June 2018. Email: email@example.com.
It was previously announced in the 2018/19 Budget that the financial institutions supervisory levies will be increased to raise additional revenue of $31.9m over four years from 2018/19.