Navigating ASIC fee increases from July 1, 2024: What you need to know
Prices have surged across the board: groceries, utilities, petrol, school fees—you name it. Inflation is impacting more Victorians than ever, and in response, the Australian Securities and Investments Commission (ASIC) has also raised its fees.
From July 1st, 2024, ASIC has implemented fee increases in alignment with the Consumer Price Index (CPI) for the March 2024 quarter. This periodic adjustment aims to reflect changes in the cost of living and operational expenses.
The CPI serves as a benchmark for measuring fluctuations in the prices of a fixed basket of goods and services typically consumed by Australian households. Understanding these fluctuations is crucial, as they directly impact ASIC fees across various lodgements, including penalties for late payments.
It’s important to note that these ASIC fees are exempt from GST, and their adjustments are intended to ensure that the regulatory body can continue to operate effectively and sustainably.
For accurate and up-to-date information on specific fee changes, refer to the ASIC website.
Below are some of the most frequent lodgements that have seen fee increases:
This is to be utilised as a summary and a guide and should not substitute professional advice tailored to your specific circumstances.
If you’re unsure about how these changes may affect your business or personal financial obligations, our dedicated team is here to provide clarity and assistance. Contact us today to discuss how we can support you through these regulatory updates and ensure your compliance with ASIC requirements.
For a detailed list of all fee and lodgment updates, visit the ASIC website, here.
Stay informed and stay compliant for your financial peace of mind.
