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Industry fees and levies

Financial Institutions Supervisory Levies collected by APRA from the financial sector are used to fund elements of financial industry-related operations of APRA, the Australian Securities and Investments Commission (ASIC), the Australian Competition and Consumer Comission (ACCC), the Australian Taxation Office’s SuperStream and the Department of Human Services.

Industry levy determinations

Authorised deposit-taking institutions

General insurance

Life insurance and friendly societies

Private health insurance

Superannuation

Paying levies

Methods of payment

APRA accepts payment by EFT, cheque, VISA and MasterCard.

Levies can also be paid at any Australia Post outlet. Take the invoice into an Australia Post outlet and a receipt will be issued once payment has been made. The receipt should be kept as a record confirming payment.

APRA levies can also be paid as follows:

Questions about levy notice?

Contact Financial Services by email: leviesandcollections@apra.gov.au and quote the customer number located on the left hand side of the invoice.

Any queries in relation to the invoice should be raised prior to the due date for payment.

Late payment fees

Non payment of your levy or failure to notify APRA in relation to an invoice dispute by the due date, will result in a late payment fee.

This charge (also known as a Finance Charge) will be reflected on the monthly statement and should be settled immediately.

The late fee is charged at 20 per cent per annum, calculated daily and applied twice monthly.

Failure to pay a levy invoice or lodge a dispute with APRA may result in legal action to recover the amount owing via the Australian Government Solicitor.

Should APRA pursue this course of action, costs associated with this action may be passed on to the entity.

Requests to waive a levy

APRA may waive levy under specific and limited circumstances. Submit a formal request to:

Manager
Financial Services
GPO Box 9836
Sydney NSW 2001

The request should include the customer number, contact details and a detailed reason for waiving the levy.

The information provided with will be reviewed and a decision will be made to determine if a waiver will be granted or not. In either case, advice will be sent in writing outlining the reasons for APRA’s decision.

Correspondence about paying levies

Monthly statements

In addition to the levies invoice, you will be provided with a statement of transactions as of the 6th of each month. This statement will outline any invoices that have been issued, payments received, waivers granted and other Miscellaneous transactions that may have occurred.

A statement will be issued if there is an outstanding balance or if there has been any activity on the account during the past month.

Reminder letters

If an invoice is not paid by the designated due date, a reminder letter will be issue to request payment. The letter will also outline any Late Payment charges that have accumulated.