Draft ASIC fee regs has $899 fee to cancel SMSF auditor registration

The Government has released draft legislation and regulations to implement an industry-funded, fee-for-service, model for ASIC. These include substantial fees to register as an SMSF auditor – $1,927 – or cancel a registration – $899.

“The Turnbull Government is committed to ensuring that ASIC has the resources and powers it needs to combat misconduct in Australia’s financial services industry and bolster consumer confidence in the sector,” said a statement from the office of Minister for Revenue and Financial Services, Kelly O’Dwyer. Read more...

ASIC fees for 2016/17: SMSF Auditors and SMSF corporate trustees

ASIC fees, SMSF Auditors, SMSF corporate trustee, special purpose company, 2016/17The ASIC fees for SMSF Auditors and SMSF corporate trustees have increased for 2016/17.

ASIC Fees: SMSF Auditors

ASIC has published the increased fees for SMSF Auditors applying from 1 July 2016:

  • Applying for registration as an approved SMSF auditor: $105
  • Undertaking a competency examination in accordance with section 128C of the SIS Act: $105
  • Giving the Regulator a statement under section 128G of the SIS Act: $53

Each of these fees has increased by $1 compared to 2015/16.

“The fees under the Superannuation Auditor Registration Imposition Act 2012 are indexed each year from 1 July based on any increase in the Consumer Price Index (CPI) for the previous March quarter,” says ASIC.

ASIC Fees: SMSF corporate trustees

The ASIC fee for registering a new proprietary company, if it has share capital, has increased from $463 in 2015/16 to $469 for 2016/17. Read more...