{"id":72286,"date":"2024-07-08T15:03:05","date_gmt":"2024-07-08T05:03:05","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=72286"},"modified":"2024-10-29T15:30:16","modified_gmt":"2024-10-29T05:30:16","slug":"asic-releases-cris-funding-levy-estimate","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2024\/07\/08\/asic-releases-cris-funding-levy-estimate\/","title":{"rendered":"ASIC Releases CRIS Funding Levy Estimate"},"content":{"rendered":"

ASIC has released its estimated industry funding levies for the 2023-24 financial year with the estimate for the financial advice sector just slightly higher than the final amount arrived at for the 2022-23 financial year.<\/p>\n

ASIC’s 2023-24 Cost Recovery Implementation Statement<\/a> details the estimated cost recovery amount for licensees that provide personal advice to retail clients on relevant financial products at $48.394 million across 2,766 AFS licensees with 15,371 advisers.<\/p>\n

The CRIS says the estimated levy is a minimum levy of $1,500, plus $2,878 per adviser.<\/p>\n

\"\"<\/a>In November last year the FAAA had estimated that the final levy amount for the 2022-23 financial year at $2,818 per adviser, some $400 per adviser lower than the original estimate (see: ASIC Levy Reduced From Previous Estimate<\/a>).<\/p>\n

Prior to this, temporary levy relief had been in place for the 2020-21 and 2021-22 years, freezing the adviser levy at $1,142 per adviser (see: No Extension to Adviser Levy Relief<\/a>).<\/p>\n

ASIC notes in its latest statement that these July figures are a guide only. Final levies are published in December 2024 and invoiced between January and March 2025.<\/p>\n

It says the CRIS outlines estimated regulatory costs and levies for each industry subsector to help entities plan and budget for levies and fees to be charged.”<\/p>\n","protected":false},"excerpt":{"rendered":"

ASIC has released its estimated industry funding levies for the 2023-24 financial year with the estimate for the financial advice sector just slightly higher than the final amount arrived at for the 2022-23 financial year. ASIC’s 2023-24 Cost Recovery Implementation Statement details the estimated cost recovery amount for licensees that provide personal advice to retail […]<\/p>\n","protected":false},"author":24,"featured_media":72297,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8,3],"tags":[],"class_list":["post-72286","post","type-post","status-publish","format-standard","has-post-thumbnail","category-compliance-regulation","category-general"],"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/72286","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/comments?post=72286"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/72286\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media\/72297"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=72286"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=72286"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=72286"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}