{"id":"F2023L00794","name":"Australian Transaction Reports and Analysis Centre Industry Contribution Determination 2023 (No. 1)","slug":"australian-transaction-reports-and-analysis-centre-industry-contribution-determination-2023-no-1","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":104518,"registerId":"commonwealth-F2023L00794-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 2023 (No. 1)","content":"![Commonwealth Coat of Arms](image.001.png)\n\nAustralian Transaction Reports and Analysis Centre Industry Contribution Determination 2023 (No. 1)[\\[1\\]](#_ftn1)\n\nAustralian Transaction Reports and Analysis Centre Industry Contribution Act 2011\n\nI, Mark Dreyfus, Attorney-General, make this Determination under subsection 9(1) of the Australian Transaction Reports and Analysis Centre Industry Contribution Act 2011.\n\n\\[Signed\\]\n\nAttorney-General\n\n8 June 2023\n\n  \n\n1 Name of Determination\n\nThis Determination is the Australian Transaction Reports and Analysis Centre Industry Contribution Determination 2023 (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 2022.\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 2021:\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 2021.\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 $7,000,000,000 – $11,249,558.31; 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 $7,000,000,000 – $11,249,558.31 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 – 0.120 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 – 0.120 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\n  \n\n6. Transaction reporting component\n\n(1) Subitem (2) has effect subject to subitems (3), (5) and (6).\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 2021 calendar year was less than $15 billion:\n\n| 1.4 cents for each leviable report | plus | 0.00042645 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 2021 calendar year was $15 billion or more:\n\n| 1.4 cents for each leviable report | plus | 0.0000075276 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 group of leviable entities under subitem (2)(a) is greater than $7,098,999.75, then the total transaction reporting component for the group of leviable entities, or single leviable entity, is $7,098,999.75.\n\n(6) If the total of the transaction reporting component calculated for a group of leviable entities under subitem (2)(b) is greater than $7,098,999.75, then the total transaction reporting component for the group of leviable entities, or single leviable entity, is $7,098,999.75.\n\n---","sortOrder":0}],"analysis":{"kimi_summary":{"content_quality":"ok","complexity_score":6,"scope_assessment":{"changed":false,"description":"This is a standard annual determination made under the Australian Transaction Reports and Analysis Centre Industry Contribution Act 2011. It operates within the established statutory framework for funding AUSTRAC through industry levies. The scope remains consistent with the original Act's intent: setting the specific dollar amounts and formulas for a particular financial year's levy calculation. While the specific thresholds and caps are updated annually, the fundamental structure and scope of the levy mechanism remains unchanged from the enabling legislation."},"complexity_factors":["Dual-formula calculation structure requiring aggregation of earnings and transaction reporting components","Nested conditional logic with multiple thresholds ($100M earnings floor, $5M earnings cap, $1,100 payment floor, $11.25M total ceiling)","Group entity treatment requiring identification of 'related bodies corporate' and proportional division of caps across group members","Different accounting metrics for different entity types (PBTDA for banks/financial corporations vs EBITDA for others)","Complex transaction reporting formula with tiered rates based on $15 billion threshold and dual calculation methods (per-report fee plus percentage of value)","Cross-references to four separate Acts (AML/CTF Act, Corporations Act, Financial Sector (Collection of Data) Act, National Electricity (South Australia) Act)","15 defined terms including recursive definitions ('leviable report' references itself through paragraphs a-c)","Temporal complexity with references to three different time periods (2021 calendar year for reports, 2021-22 financial year for earnings, 2022-23 financial year for levy application)","Special rules for foreign companies requiring geographical attribution of earnings","Anti-double-counting provision in section 6(3) for shared reports between affiliates and acquirers"],"plain_english_summary":"This bill sets the AUSTRAC levy for 2022–23, charging businesses required to report under Australia’s anti‑money‑laundering rules so the regulator is funded by the industry it oversees. \n\nIt applies mainly to banks, remitters, casinos, bullion dealers and other reporting entities, using a two‑part formula tied to earnings and reporting activity while including small‑business thresholds, caps and specific exemptions to limit burdens on smaller or excluded operators."},"flash_summary":{"complexity_score":5,"scope_assessment":{"changed":false,"description":"This Determination does not alter which entities are 'leviable' (it adopts the Act’s definition) but sets the specific levy formulas, numeric rates, thresholds and exemptions to apply for the financial year (see item 3 for definitions and item 4–6 for calculation rules). It expressly limits earnings of foreign companies to those derived from Australian operations (item 3(2))."},"complexity_factors":["Multiple rate-forms for earnings depending on entity type (distinct PBTDA vs EBITDA rules) and group treatment (item 3 definitions; item 5(2)).","Group aggregation rules and per-entity division of group totals (item 5(2)(b); item 4(4)(b)).","Layered thresholds, caps and a payment floor (payment threshold and maximums in item 4(3)–(4); earnings threshold/cap in item 5(3)–(4); transaction caps in item 6(5)–(6)).","Transaction-reporting component uses a flat per-report charge plus a value-based percentage with two rate bands depending on total reported value (item 6(2)(a)–(b)).","Temporal and source anchoring to 2021 calendar-year leviable reports and to earnings recorded for the previous financial year (definitions in item 3; item 6(2)).","Uniqueness rule preventing the same leviable report being counted for multiple entities (item 6(3)).","Specified exemptions and nil-payment categories (remittance-affiliate-only providers, Market Generators, Commonwealth public-purpose corporates) which add edge cases (item 4(5)–(7)).","Reference reliance on external data maintained by the AUSTRAC CEO (roll under s51C of the AML/CTF Act) for earnings and report records (item 3).","Different treatment of foreign companies — earnings limited to operations in Australia — adding a jurisdictional calculation step (item 3(2))."],"plain_english_summary":"This Determination fixes how to calculate each leviable entity’s AUSTRAC industry levy for the 2022–23 financial year. It requires an instalment equal to an earnings-based charge plus a transaction-reporting charge, applies the Act’s definitions (including ADIs and registered financial corporations), sets thresholds, caps and exemptions, and limits foreign-company earnings to Australian operations. It matters because it defines who pays, how payments are computed, and therefore the direct compliance cost for reporting businesses."},"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"}},"importantCases":[],"_links":{"self":"/api/acts/australian-transaction-reports-and-analysis-centre-industry-contribution-determination-2023-no-1","history":"/api/acts/australian-transaction-reports-and-analysis-centre-industry-contribution-determination-2023-no-1/history","analysis":"/api/acts/australian-transaction-reports-and-analysis-centre-industry-contribution-determination-2023-no-1/analysis","conflicts":"/api/acts/australian-transaction-reports-and-analysis-centre-industry-contribution-determination-2023-no-1/conflicts","importantCases":"/api/acts/australian-transaction-reports-and-analysis-centre-industry-contribution-determination-2023-no-1/important-cases","documents":"/api/acts/australian-transaction-reports-and-analysis-centre-industry-contribution-determination-2023-no-1/documents"}}