Outcomes

Parliament funds ASIC to achieve the outcome of improved confidence in Australia’s financial markets through promoting informed investors and financial consumers, facilitating fair and efficient markets, and delivering efficient registry systems.

Revenue for the Commonwealth

In 2019–20, ASIC raised $1,358 million for the Commonwealth in fees, charges and supervisory cost recovery levies, an increase of 7% from the 2018–19 year.

Revenue, appropriations and expenditure

In 2019–20, ASIC received approximately $403 million in appropriation revenue from the Government, including $41 million for the Enforcement Special Account (ESA), representing a $29 million or 8% increase compared with 2018–19.

ASIC received approximately $18 million of own-source revenue,¹ which is $7 million higher than the previous year. The increase in own-source revenue relates mainly to higher court costs recoveries relating to ESA matters.

The increase in total expenses is consistent with the increase in appropriation and own-source revenues, plus additional expenditure on ESA matters associated with accelerated ESA enforcement actions.

The increase in the 2019–20 deficit result is mainly attributable to the additional expenditure on ESA matters associated with accelerated enforcement actions, which was funded from available ESA accumulated cash reserves.

Table 1.4.1 Revenue, appropriations and expenditure

Table 1.4.2 ASIC’s use of taxpayers’ money for outcomes approved by Parliament