{"id":"F2022L00237","name":"Australian Transaction Reports and Analysis Centre Industry Contribution Determination 2022 (No. 1)","slug":"australian-transaction-reports-and-analysis-centre-industry-contribution-determination-2022-no-1","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":102300,"registerId":"commonwealth-F2022L00237-current","compilationNumber":null,"startDate":"2026-04-03","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Australian Transaction Reports and Analysis Centre Industry Contribution Determination 2022 (No. 1)","content":"![Commonwealth Coat of Arms](image.001.png)\n\nAustralian Transaction Reports and Analysis Centre Industry Contribution Determination 2022 (No. 1)[\\[1\\]](#_ftn1)\n\nAustralian Transaction Reports and Analysis Centre Industry Contribution Act 2011\n\nI, Karen Andrews, Minister for Home Affairs, make this Determination under subsection 9(1) of the Australian Transaction Reports and Analysis Centre Industry Contribution Act 2011.\n\n\\[Signed\\]\n\nMinister for Home Affairs\n\n1 March 2022\n\n  \n\n1 Name of Determination\n\nThis Determination is the Australian Transaction Reports and Analysis Centre Industry Contribution Determination 2022 (No. 1).\n\n2 Commencement\n\nThis Determination commences on the day after it is registered.\n\n3 Definitions\n\n(1) In this Determination:\n\nthe Act means the Australian Transaction Reports and Analysis Centre Industry Contribution Act 2011.\n\nADI (short for authorised deposit-taking institution) has the same meaning as in the AML/CTF Act.\n\nAML/CTF Act means the Anti-Money Laundering and Counter-Terrorism Financing Act 2006.\n\nacquired refers to the acquisition of the business of an entity.\n\nAUSTRAC has the same meaning as in the AML/CTF Act.\n\nAUSTRAC CEO has the same meaning as in the AML/CTF Act.\n\ncensus day, in relation to the financial year, has the same meaning as in the Act.\n\nearnings, in relation to a leviable entity, means:\n\n(a) if the leviable entity is an ADI or a registered financial corporation – the total profit before tax, depreciation and amortisation (PBTDA), not adjusted for significant items; or\n\n(b) if the leviable entity is a member of a group of leviable entities and any member of that group is an ADI or a registered financial corporation – the total profit before tax, depreciation and amortisation (PBTDA) not adjusted for significant items; or\n\n(c) in any other case – the total earnings before tax, interest, depreciation and amortisation (EBITDA) not adjusted for significant items;\n\nof the leviable entity, for a year ending in the previous financial year, the details of which have been recorded in accordance with the requirements for the roll maintained by the AUSTRAC CEO under section 51C of the AML/CTF Act.\n\nNote 1: The above definition recognises that leviable entities may have annual accounting periods that end on other than 30 June in any year.\n\nNote 2: The operation of the above definition in relation to leviable entities that are foreign companies or subsidiaries of foreign companies is affected by subitem (2) of this item 3.\n\nfinancial year means the financial year beginning on 1 July 2021.\n\nforeign company has the same meaning as in the Corporations Act 2001.\n\ngroup of leviable entities means all leviable entities that are related bodies corporate.\n\nleviable entity, in relation to the financial year, has the same meaning as in the Act.\n\nleviable report, in relation to a leviable entity, means one of the following reports given to the AUSTRAC CEO during the calendar year beginning on 1 January 2020:\n\n(a) a report given by the leviable entity under subsections 43(2) or 45(2) of the AML/CTF Act (including a report given by the leviable entity in the form required for subsections 43(2) or 45(2), whether or not such a report was required to be given under either of those subsections); or\n\n(b) a report of the type referred to in paragraph (a) that was given by another leviable entity that, as at the time the report was given, was a remittance affiliate of the leviable entity; or\n\n(c) a report of the type referred to in paragraph (a) that was given by another leviable entity that, prior to the census day, was acquired by the leviable entity.\n\nNational Electricity Rules means the Rules made under the National Electricity Law set out in the Schedule to the National Electricity (South Australia) Act 1996 (SA).\n\nprevious financial year means the financial year beginning on 1 July 2020.\n\nregistered financial corporation has the same meaning as registered entity in the Financial Sector (Collection of Data) Act 2001.\n\nrelated bodies corporate has the same meaning as in the Corporations Act 2001.\n\nremittance affiliate means a leviable entity that:\n\n(a) provides a designated service covered by item 31 or 32 of table 1 in section 6 of the AML/CTF Act; and\n\n(b) provides that service as part of a network of persons of a kind referred to in item 32A of that table operated by another leviable entity.\n\nsubsidiary has the same meaning as in the Corporations Act 2001.\n\n(2) A reference in this Determination to the total profit or total earnings of a leviable entity that is a foreign company or a subsidiary of a foreign company is a reference to the total profit or total earnings of the leviable entity which are derived from operations in Australia.\n\n4 Amount of instalment of levy\n\n(1) Subitem (2) has effect subject to subitems (3), (4), (5), (6) and (7).\n\n(2) For subsection 9(1) of the Act, the amount of the instalment of levy payable by a leviable entity for the financial year is to be calculated in accordance with the following formula:\n\n| earnings component | +   | transaction reporting component |\n| ------------------ | --- | ------------------------------- |\n\nPayment threshold\n\n(3) If the amount calculated in relation to a leviable entity under subitem (2) is less than $1,100, then, for subsection 9(1) of the Act, the amount of the instalment of levy payable by the leviable entity for the financial year is nil.\n\nMaximum payment amount\n\n(4) For subsection 9(1) of the Act, the amount of the instalment of levy payable by a leviable entity for the financial year is:\n\n(a) for a leviable entity that is not a part of a group of leviable entities and has earnings of greater than $5,000,000,000 – $11,480,616.08; or\n\n(b) for a leviable entity that is part of a group of leviable entities the total earnings for which are greater than $5,000,000,000 – $11,480,616.08 divided by the number of leviable entities in the group.\n\nOther\n\n(5) For subsection 9(1) of the Act, the amount of the instalment of levy payable for the financial year by a leviable entity that, in the previous financial year:\n\n(a) provided a designated service or services only in the capacity of a remittance affiliate; and\n\n(b) did not provide a designated service in any other capacity;\n\nis nil.\n\n(6) For subsection 9(1) of the Act, the amount of the instalment of levy payable for the financial year by a leviable entity that, on the census day for the financial year, was a ‘Market Generator’ within the meaning of the National Electricity Rules, is nil.\n\n(7) For subsection 9(1) of the Act, the amount of the instalment of levy payable for the financial year by a leviable entity that is a body corporate established for a public purpose by an Act passed by the Parliament of the Commonwealth is nil.\n\n5 Earnings component\n\n(1) Subitem (2) has effect subject to subitems (3) and (4).\n\n(2) The earnings component for a leviable entity is:\n\n(a) for a leviable entity that is not part of a group of leviable entities – 0.048 per cent of the earnings for the leviable entity; or\n\n(b) for a leviable entity that is part of a group of leviable entities – 0.048 per cent of the total earnings for the group of leviable entities, divided by the number of leviable entities in the group.\n\nEarnings component threshold\n\n(3) The earnings component for a leviable entity:\n\n(a) that is not part of a group of leviable entities and has earnings of less than $100,000,000; or\n\n(b) that is part of a group of leviable entities the total earnings for which are less than $100,000,000;\n\nis nil.\n\nEarnings component cap\n\n(4) If the earnings component calculated for a leviable entity under subitem (2) is greater than $5,000,000, then:\n\n(a) for a leviable entity that is not part of a group of leviable entities – the earnings component for the leviable entity is $5,000,000; or\n\n(b) for a leviable entity that is part of a group of leviable entities – the earnings component for the leviable entity is $5,000,000, divided by the number of leviable entities in the group.\n\n6. Transaction reporting component\n\n(1) Subitem (2) has effect subject to subitems (3), (4) and (5).\n\n(2) The transaction reporting component for a leviable entity is to be calculated in accordance with the following formula:\n\n(a) if the total value of the leviable reports that the entity gave in the 2020 calendar year was less than $15 billion:\n\n| 1.4 cents for each leviable report | plus | 0.00070301 per cent of the value of the leviable report |\n| ---------------------------------- | ---- | ------------------------------------------------------- |\n\nor\n\n(b) if the total value of the leviable reports that the entity gave in the 2020 calendar year was $15 billion or more:\n\n| 1.4 cents for each leviable report | plus | 0.00092328 per cent of the value of the leviable report |\n| ---------------------------------- | ---- | ------------------------------------------------------- |\n\n(3) If a leviable report of the type referred to in paragraph (b) or (c) of the definition of leviable report is used in the calculation of a leviable entity’s transaction reporting component, the same report cannot be used in the calculation of any other leviable entity’s transaction reporting component.\n\n(4) In this item, a reference to the value of a leviable report is a reference to the value of the transaction to which the leviable report relates.\n\nTransaction reporting component caps\n\n(5) If the total of the transaction reporting component calculated for a leviable entity under subitem (2)(a) is greater than $14,000,000, then the total transaction reporting component for the entity is $14,000,000.\n\n(6) If the total of the transaction reporting component calculated for a leviable entity under subitem (2)(b) is greater than $14,000,000, then the total transaction reporting component for the entity is $14,000,000.\n\n---","sortOrder":0}],"analysis":{"kimi_summary":{"content_quality":"ok","complexity_score":6,"scope_assessment":{"changed":false,"description":"This determination appears consistent with the original intent of the Australian Transaction Reports and Analysis Centre Industry Contribution Act 2011, which was always designed to impose a cost-recovery levy on regulated entities. The 2022 determination updates the specific rates, thresholds, and caps for the 2021-22 financial year, which is the standard annual function of this legislative instrument. No expansion beyond the original cost-recovery purpose is evident."},"complexity_factors":["Dual-formula calculation structure requiring calculation of both earnings and transaction components","Multiple nested conditional thresholds: $100M earnings floor for earnings component, $5M cap on earnings component, $1,100 payment threshold, $11.5M maximum payment, $14M cap on transaction component","Different treatment for grouped/related corporate entities requiring consolidation calculations","Different profit metrics for different entity types (PBTDA for banks/financial corporations vs EBITDA for others)","Special rules for foreign companies limiting calculations to Australian-derived earnings only","Complex definition of 'leviable report' incorporating reports from acquired businesses and remittance affiliates with anti-double-counting rule in section 6(3)","Two-tier transaction reporting formula based on $15 billion threshold with different percentage rates","Five separate exemption categories across sections 4(5)-(7) and various thresholds"],"plain_english_summary":"This bill funds AUSTRAC by requiring businesses that report under AML laws (banks, money movers and similar “leviable entities”) to pay a two-part levy based on earnings and their reporting activity. It includes caps, a de minimis threshold, and specific exemptions for small or excluded operators.\n\nIt matters because regulated businesses, not general taxpayers, will directly finance AUSTRAC’s operations, with larger, more active reporters bearing a greater share."},"flash_summary_failed":{"failed":true,"reason":"A positive credit balance is required for all requests, including BYOK, so fallback providers remain available. Add credits at https://vercel.com/d?to=%2F%5Bteam%5D%2F%7E%2Fai%3Fmodal%3Dtop-up to continue.","source":"analysis-cron"},"flash_summary":{"complexity_score":6,"scope_assessment":{"changed":false,"description":"This Determination implements the Act’s levy power by fixing formulas, rates, thresholds, caps and specified exemptions for the stated financial year. It does not redefine who is a leviable entity under the Act but sets the monetary scope and measurement rules (definitions in item 3; levy mechanics in items 4–6)."},"complexity_factors":["Multiple interlocking calculations: separate earnings component (percentage of PBTDA/EBITDA with group allocation) and transaction-reporting component (per-report flat fee plus a tiny percentage of transaction value) (items 4–6).","Different measurement rules depending on entity type: ADI/registered financial corporation vs others; foreign companies limited to Australian-derived earnings (item 3(1), subitem 3(2)).","Group treatment: total group earnings can be averaged and components divided by number of leviable entities; caps and thresholds apply at entity and group levels (items 3, 5(2)–(4), 4(4)).","Multiple thresholds, caps and exceptions: minimum payment threshold ($1,100), maximum instalment cap (~$11.48m), earnings-component floor and cap ($100m floor, $5m cap), transaction-component cap ($14m), and nil amounts for remittance-only affiliates, Market Generators and Commonwealth public-purpose bodies (items 4(3)–(7), 5(3)–(4), 6(5)–(6)).","Reliance on historical data and AUSTRAC-administered records: transaction-reporting component uses leviable reports given in calendar year 2020 and values recorded in AUSTRAC’s roll (definition of leviable report, items 3 and 6).","Two-tiered transaction rate schedule: different percentage per report depending on whether total reported value in 2020 was below or above $15 billion (item 6(2)).","Operational complexity for compliance: identifying which 2020 reports count (including acquired businesses and remittance affiliates), preventing double-counting across entities, and applying group divisions and caps (items 3(1)(b)–(c), 6(3))."],"plain_english_summary":"Sets how much each leviable entity must pay under the Australian Transaction Reports and Analysis Centre Industry Contribution Act 2011 for the 2021–22 financial year: it prescribes a two-part levy (an earnings-based component and a transaction-reporting component), thresholds, caps and narrow exemptions. It applies to leviable entities under the AML/CTF regime (banks, registered financial corporations, remitters and other reporting entities) and bases liabilities on AUSTRAC records, census-day status and 2020 reporting and earnings data."}},"importantCases":[],"_links":{"self":"/api/acts/australian-transaction-reports-and-analysis-centre-industry-contribution-determination-2022-no-1","history":"/api/acts/australian-transaction-reports-and-analysis-centre-industry-contribution-determination-2022-no-1/history","analysis":"/api/acts/australian-transaction-reports-and-analysis-centre-industry-contribution-determination-2022-no-1/analysis","conflicts":"/api/acts/australian-transaction-reports-and-analysis-centre-industry-contribution-determination-2022-no-1/conflicts","importantCases":"/api/acts/australian-transaction-reports-and-analysis-centre-industry-contribution-determination-2022-no-1/important-cases","documents":"/api/acts/australian-transaction-reports-and-analysis-centre-industry-contribution-determination-2022-no-1/documents"}}