Australian Department of the Treasury consults on 2025–26 financial institutions supervisory levies totalling AUD 282.6 million

The Australian Department of the Treasury published a discussion paper, prepared with the Australian Prudential Regulation Authority (APRA), seeking industry views on the proposed Financial Institutions Supervisory Levies for the 2025–26 financial year. The package would raise AUD 282.6 million to recover APRA’s costs and specified costs incurred by other Commonwealth agencies, down AUD 11.4 million (3.9 percent) from 2024–25, and incorporates a AUD 2.2 million refund to industry for expected prior-year over-collection. Of the AUD 282.6 million total, APRA’s net levy requirement is proposed to be AUD 243.0 million (down 1.3 percent), alongside AUD 37.2 million for the Australian Taxation Office, AUD 1.4 million for the Gateway Network Governance Body, and AUD 1.0 million for Treasury’s superannuation consumer advocate grant. By sector, proposed 2025–26 totals are ADIs AUD 110.8 million (up AUD 4.3 million), life insurance and friendly societies AUD 19.5 million (down AUD 2.6 million), general insurers AUD 28.6 million (down AUD 4.1 million), superannuation AUD 112.5 million (down AUD 9.1 million, including the non-APRA components), private health insurers AUD 10.0 million (unchanged), and a National Claims and Policies Database special levy of AUD 1.2 million (up AUD 0.1 million). The paper also sets out proposed levy parameters including higher maximum caps for ADIs (AUD 8.5 million) and superannuation funds (AUD 950,000), while retaining unchanged minimums for several sectors. Submissions close on 25 April 2025. APRA will publish an updated Cost Recovery Implementation Statement no later than 30 June 2025.