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Regulatory Charging Summary
The cost recovery information included in this note is in relation to Financial Industry Supervisory Levies and Excise Equivalent Goods (EEG) warehouse licence. Revenue collected by the Financial Industry Supervisory Levies by the Australian Prudential and Regulation Authority from the superannuation industry includes a component to cover the expenses of the ATO in administering the Superannuation Lost Member Register (LMR), Unclaimed Superannuation Money (USM) frameworks and implementation of the SuperStream initiative. The EEG information is for the warehouse licence applications and renewals issued by the ATO under delegation with the Department of Home Affairs. It also covers the compliance activities associated with the granting of warehouse licences. This is in accordance with the Customs Act 1901.
The Self-Managed Superannuation Funds levy has been excluded in this note, as it is classified as tax revenue and therefore no longer subject to cost recovery. Prior year adjustments to reflect the change have also been made.
A copy of the Cost Recovery Implementation Statement for the Financial Industry Super Levies is available at https://www.apra.gov.au/sites/default/files/apra_cris_2018-19.pdf
A copy of the Cost Recovery Implementation Statement for Cargo and Trade related activities is available at