Australian Prudential Regulation Authority Supervisory Levies Determination 2025

This Determination sets the supervisory levy rates, bases and related technical rules that APRA will use for the 2025-26 financial year, and repeals the 2024 Determination (Schedule 1). It is made under APRA’s enabling Act and the suite of supervisory levy imposition Acts listed in section 1‑3, and commences on 1 July 2025 (ss 1‑2, 1‑3, Schedule 1). Mechanically, the instrument does four core things.

First, it specifies the Commonwealth amounts payable out of levy money for the current financial year, including a single non‑nil Commonwealth allocation: $39,600,000 in respect of the Superannuation Supervisory Levy Imposition Act 1998; all other classes in the table in section 2‑2 are specified as Nil (s 2‑2). Second, it specifies that 86.0% of levy money paid to APRA on behalf of the Commonwealth is to be credited to the APRA Special Account on an ongoing basis (s 2‑3). Third, it fixes the quantum mechanics for each regulated sector: maximum and minimum restricted levy amounts, restricted and unrestricted levy percentages, or formulae as applicable across Parts 3 to 9. Those sectoral specifications include ADIs (table in s 3‑2), NOHCs ($45,000 per authorised NOHC in s 4‑2), general insurers (general and special components in ss 5‑2 to 5‑5), life insurers (s 6‑2), private health insurers (per‑policy levy formula and census day in ss 7‑2 to 7‑4), RSA providers (Nil rates in s 8‑2 but levy base defined in s 8‑3), and superannuation entities (tables and levy base rules in ss 9‑2 and 9‑3).

Fourth, the Determination prescribes precise valuation days and data sources for levy bases, by reference to reporting standards and items in APRA reporting forms. It sets the valuation day rules for entities that were or became regulated during the reference period (for example, valuation day definitions in ss 3‑1, 5‑1, 6‑1, 9‑1), and requires levy bases to be calculated by reference to specified items in identified Reporting Standards or Reporting Forms (see, for example, ss 3‑3, 5‑3, 6‑3, 9‑3). For certain special components, it prescribes policy‑level data inputs and formulae, notably for eligible premium income of general insurers where policy file fields and a gross annualised premium calculation are mandated (s 5‑5). The instrument also defines how to interpret references to Reporting Standards, locking the reference to the version that applied to the reporting period ending on the relevant day, with an adaptation rule where identifiers change (s 1‑6).

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Commonwealth Coat of Arms of Australia

Australian Prudential Regulation Authority Supervisory Levies Determination 2025

I, Daniel Mulino, Assistant Treasurer and Minister for Financial Services, make the following determination.

Dated 26 June 2025

Dr Daniel Mulino

Assistant Treasurer Minister for Financial Services

Contents

Part 1—Preliminary

1‑1.............................................Name

1‑2.......................................Commencement

1‑3...........................................Authority

1‑4...........................................Schedule

1‑5.........................................Interpretation

1‑6.....................................Reporting Standards

Part 2—Australian Prudential Regulation Authority (Commonwealth costs)

2‑1..........................................Definitions

2‑2....................................Commonwealth costs

2‑3.........................Proportion of levy money paid to APRA

Part 3—Authorised deposit-taking institutions supervisory levy

3‑1..........................................Definitions

3‑2.......................................Amount of levy

3‑3.......................................ADI’s levy base

Part 4—Authorised non-operating holding companies supervisory levy

4‑1..........................................Definitions

4‑2.......................................Amount of levy

Part 5—General insurance supervisory levy

5‑1..........................................Definitions

5‑2.....................................General component

5‑3.........................General insurance company’s levy base

5‑4.....................................Special component

5‑5............Eligible premium income for working out special component

Part 6—Life insurance supervisory levy

6‑1..........................................Definitions

6‑2.......................................Amount of levy

6‑3...........................Life insurance company’s levy base

Part 7—Private health insurance supervisory levy

7‑1..........................................Definitions

7‑2................................Amount of supervisory levy

7‑3.....................Amount of supervisory levy for a single policy

7‑4..........................................Census day

Part 8—Retirement savings account providers supervisory levy

8‑1..........................................Definitions

8‑2.......................................Amount of levy

8‑3.................................RSA provider’s levy base

Part 9—Superannuation supervisory levy

9‑1..........................................Definitions

9‑2.......................................Amount of levy

9‑3.............................Superannuation entity’s levy base

Schedule 1—Repeals

Australian Prudential Regulation Authority Supervisory Levies Determination 2024

Part 1—Preliminary

1‑1 Name

This instrument is the Australian Prudential Regulation Authority Supervisory Levies Determination 2025.

1‑2 Commencement

(1) Each provision of this instrument specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

Commencement information
Column 1 Column 2 Column 3
Provisions Commencement Date/Details
1. The whole of this instrument 1 July 2025.

Note: This table relates only to the provisions of this instrument as originally made. It will not be amended to deal with any later amendments of this instrument.

(2) Any information in column 3 of the table is not part of this instrument. Information may be inserted in this column, or information in it may be edited, in any published version of this instrument.

1‑3 Authority

This determination is made under the following:

(a) the Australian Prudential Regulation Authority Act 1998; and

(b) the Authorised Deposit‑taking Institutions Supervisory Levy Imposition Act 1998; and

(d) the General Insurance Supervisory Levy Imposition Act 1998; and

(e) the Life Insurance Supervisory Levy Imposition Act 1998; and

(f) the Private Health Insurance Supervisory Levy Imposition Act 2015; and

(g) the Retirement Savings Account Providers Supervisory Levy Imposition Act 1998; and

(h) the Superannuation Supervisory Levy Imposition Act 1998.

1‑4 Schedule

Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.

1‑5 Interpretation

(1) An expression in a provision of a Part of this instrument has the same meaning as in the Act defined in that Part as the Act.

(2) In this instrument:

ADI means an authorised deposit‑taking institution within the meaning of the Banking Act 1959.

APRA means the Australian Prudential Regulation Authority.

current financial year means the financial year commencing on 1 July 2025.

foreign ADI has the meaning given by section 5 of the Banking Act 1959.

previous calendar year means the last calendar year that ended before the start of the current financial year.

reporting period, in relation to a Reporting Standard, means a reporting period within the meaning of the Reporting Standard.

Reporting Standard: see section 1‑6.

RSA means a retirement savings account within the meaning given by section 8 of the Retirement Savings Accounts Act 1997.

(3) In this instrument, a reference to a period from a specified day to another specified day includes both days.

1‑6 Reporting Standards

(1) If a provision (the referring provision) of this instrument refers, in relation to a day, to a Reporting Standard with a particular identifier, the referring provision is to be taken to refer to the version of the Reporting Standard with that identifier that:

(a) applied to a reporting period (within the meaning of that version of the Reporting Standard) that ended on that day, or that included that day, as the case requires; and

(b) so applied because of a reporting standard determined under section 13 of the Financial Sector (Collection of Data) Act 2001.

Example: Reporting Standard GRS 300.0 Statement of Financial Position.

(2) However, if no version of that Reporting Standard applies to such a reporting period because that Reporting Standard has been replaced by a Reporting Standard with a different identifier:

(a) subsection (1) applies as if the referring provision referred instead, in relation to that day, to the Reporting Standard with the different identifier; and

(b) if the referring provision also refers to particular material in the Reporting Standard that has been replaced, it is taken to refer instead to the corresponding material in the applicable version of the Reporting Standard with the different identifier.

(3) In this section:

identifier means a combination of letters and numbers (with or without punctuation marks, and whether or not followed by a title).

Part 2—Australian Prudential Regulation Authority (Commonwealth costs)

2‑1 Definitions

(1) In this Part:

the Act means the Australian Prudential Regulation Authority Act 1998.

Note: Expressions used in this Part have the same meaning as in the Act—see subsection 1‑5(1) of this instrument.

(2) An expression used in this Part has the meaning given by subsection 50(6) of the Act.

2‑2 Commonwealth costs

For the purposes of paragraph 50(1)(b) of the Act, the amount of levy money mentioned in an item of the following table is specified as the amount payable to the Commonwealth for the current financial year in respect of the class of levy mentioned in that item.

Note: The levy amounts payable to the Commonwealth are to cover the costs to the Commonwealth mentioned in a subparagraph to paragraph 50(1)(b) of the Act.

Item	Class of levy	Amount of levy money payable
1	Levy imposed by the Authorised Deposit‑taking Institutions Supervisory Levy Imposition Act 1998	Nil
2	Levy imposed by the General Insurance Supervisory Levy Imposition Act 1998	Nil
3	Levy imposed by the Life Insurance Supervisory Levy Imposition Act 1998	Nil
4	Levy imposed by the Superannuation Supervisory Levy Imposition Act 1998	$39,600,000
5	Levy imposed by the Authorised Non‑operating Holding Companies Supervisory Levy Imposition Act 1998	Nil
6	Levy imposed by the Private Health Insurance Supervisory Levy Imposition Act 2015	Nil
7	Levy imposed by the Retirement Savings Account Providers Supervisory Levy Imposition Act 1998	Nil

2‑3 Proportion of levy money paid to APRA

For the purposes of subsection 50(1A) of the Act, the proportion of amounts of levy money paid to APRA for the current financial year, on behalf of the Commonwealth, that is to be credited to the APRA Special Account on an ongoing basis, is specified as 86.0%.

Part 3—Authorised deposit-taking institutions supervisory levy

3‑1 Definitions

In this Part:

provider of purchased payment facilities means an ADI that:

(a) engages in the provision of one or more purchased payment facilities, in relation to at least one of which APRA has determined as mentioned in section 6 of the Banking Regulation 2016; and

(b) does not otherwise carry on banking business within the meaning of section 5 of the Banking Act 1959.

purchased payment facility has the meaning given by section 7 of the Payment Systems (Regulation) Act 1998.

the Act means the Authorised Deposit‑taking Institutions Supervisory Levy Imposition Act 1998.

Note: Expressions used in this Part have the same meaning as in the Act—see subsection 1‑5(1) of this instrument.

valuation day, in relation to an ADI, means:

(a) for an ADI that is an ADI at all times during the period from 17 March of the previous financial year to the following 30 June—31 March in the previous financial year; and

(b) for an ADI that was not an ADI at all times during the period from 17 March of the previous financial year to the following 30 June—the day after 17 March in the previous financial year, on which the ADI became an ADI.

3‑2 Amount of levy

For the purposes of paragraphs 7(3)(a), (b), (c) and (ca) of the Act, the following table sets out matters for the current financial year.

Amount of levy
Item Class of ADI Maximum restricted levy amount ($) Minimum restricted levy amount ($) Restricted levy percentage Unrestricted levy percentage
1 Foreign ADI 1,700,000 22,500 0.00044 0.000719
2 Provider of purchased payment facilities 1,700,000 22,500 0.00219 0.000719
3 ADI not mentioned in item 1 or 2 8,500,000 22,500 0.00219 0.000719

3‑3 ADI’s levy base

(1) For the purposes of paragraph 7(3)(d) of the Act, an ADI’s levy base is to be worked out using this section.

(2) For the purposes of subsection 7(5) of the Act, the day as at which the levy base is to be worked out is the valuation day for the ADI.

(3) The levy base is the value of the ADI’s assets, as at the valuation day, worked out in the same way as the information required by:

(a) if Reporting Standard ARS 720.0 ABS/RBA Statement of Financial Position applies to the ADI for a reporting period that ends on or includes the valuation day—item 13 (Total assets including intra‑group assets) in Section A of Reporting Form ARF 720.0A ABS/RBA Statement of Financial Position (Standard), or of Reporting Form ARF 720.0B ABS/RBA Statement of Financial Position (Reduced), as applicable, in that Reporting Standard; or

(b) otherwise—item 11 (Total assets) in Section A of Form ARF 323.0 in Reporting Standard ARS 323.0 Statement of Financial Position (Licensed ADI);

but as if the reporting period ended on the valuation day.

Part 4—Authorised non-operating holding companies supervisory levy

4‑1 Definitions

In this Part:

the Act means the Authorised Non‑operating Holding Companies Supervisory Levy Imposition Act 1998.

Note: Expressions used in this Part have the same meaning as in the Act—see subsection 1‑5(1) of this instrument.

4‑2 Amount of levy

For the purposes of paragraphs 7(1)(a), (b) and (c) of the Act, the amount of levy payable by an authorised NOHC mentioned in each of those paragraphs for the current financial year is $45,000.

Note: “Authorised NOHC” is defined in section 5 of the Act.

Part 5—General insurance supervisory levy

5‑1 Definitions

In this Part:

general insurance company includes Lloyd’s.

general insurance company in runoff means a general insurance company that did not issue or renew any insurance policies of any of the following kinds during the previous calendar year:

(a) public liability insurance;

(b) product liability insurance;

Lloyd’s has the meaning given by section 3 of the Insurance Act 1973.

product liability insurance includes insurance that provides cover for compensation for one or both of the following, caused by, or as a result of, the use of goods:

(a) loss;

(b) injury.

professional indemnity insurance includes:

(a) insurance that provides cover for a professional person for actions taken against that person in tort, contract or under statute law in respect of advice or services provided as part of his or her professional practice, including cover in respect of damages and legal expenses; and

(b) directors’ and officers’ liability insurance and legal expense insurance; and

public liability insurance includes:

(a) insurance covering legal liability to the public in respect of bodily injury or property damage arising out of the operation of the business of the insured person or body; and

(b) insurance in respect of environmental clean‑up costs resulting from pollution where not covered by Fire and Industrial Special Risk policies.

the Act means the General Insurance Supervisory Levy Imposition Act 1998.

Note: Expressions used in this Part have the same meaning as in the Act—see subsection 1‑5(1) of this instrument.

valuation day, in relation to a general insurance company, means:

(a) for a general insurance company that is a general insurance company at all times during the period from 17 March in the previous financial year to the following 30 June—31 March in the previous financial year; and

(b) for a general insurance company that was not a general insurance company at all times during the period from 17 March of the previous financial year to the following 30 June—the day after 17 March in the previous financial year when the general insurance company became a general insurance company.

5‑2 General component

For the purposes of paragraphs 8(3)(a), (b), (c) and (ca) of the Act, the following table sets out matters for the current financial year.

General component
Item Company Maximum restricted levy amount ($) Minimum restricted levy amount ($) Restricted levy percentage Unrestricted levy percentage
1 General insurance company 1,600,000 22,500 0.01192 0.008034

5‑3 General insurance company’s levy base

(1) For the purposes of paragraph 8(3)(d) of the Act, a general insurance company’s levy base is to be worked out using this section.

(2) For the purposes of subsection 8(5) of the Act, the day as at which the levy base is to be worked out is the valuation day for the company.

(3) The levy base is the value of the company’s assets, as at the valuation day, worked out in the same way as the information “Total assets (item 15)”, as required to be reported as a dataset in a 3rd column, as described in Reporting Standard GRS 300.0 Statement of Financial Position but as if the reporting period ended on the valuation day.

(4) However, in the case of Lloyd’s, the levy base is the total of the amounts standing to the credit of all designated security trust funds (as defined by section 69 of the Insurance Act 1973) as at 31 March of the previous financial year.

5‑4 Special component

(1) For the purposes of paragraphs 8(3)(e), (f) and (g) of the Act, the following table sets out matters for the current financial year.

Special component
Item Company Special maximum levy amount Special minimum levy amount Special levy percentage
1 General insurance company (except a general insurance company in runoff) the amount worked out under subsection (2) the amount worked out under subsection (3) the percentage worked out under subsection (4)
2 General insurance company in runoff the amount worked out under subsection (5) the amount worked out under subsection (5) Nil

(2) The amount worked out under this subsection is the total of:

(a) if during the previous calendar year the company carried on either or both of public liability insurance business and product liability insurance business—the special public/product maximum; and

(b) if during the previous calendar year the company carried on professional indemnity insurance business—the special professional maximum.

(3) The amount worked out under this subsection is the total of:

(b) if during the previous calendar year the company carried on professional indemnity insurance business—the special professional minimum.

(4) The percentage worked out under this subsection is the following fraction expressed as a percentage:

Start formula start fraction A times C plus B times D over A plus B end fraction end formula

where:

A means the amount worked out for the company under paragraph 5‑5(3)(a) (gross premium income from public liability insurance and product liability insurance, capped by reference to the special public/product maximum).

B means the amount worked out for the company under paragraph 5‑5(3)(b) (gross premium income from professional indemnity insurance, capped by reference to the special professional maximum).

C means the special public/product percentage.

D means the special professional percentage.

(5) The amount worked out under this subsection is the total of:

(a) if during the previous calendar year the company has liabilities in respect of either or both of public liability insurance and product liability insurance—the special runoff amount; and

(b) if during the previous calendar year the company has liabilities in respect of professional indemnity insurance—the special runoff amount.

(6) In this section:

special professional maximum means $32,000.

special professional minimum means $5,000.

special professional percentage means 0.0297 per cent.

special public/product maximum means $50,000.

special public/product minimum means $5,000.

special public/product percentage means 0.0238 per cent.

special runoff amount means $2,500.

5‑5 Eligible premium income for working out special component

(1) For the purposes of paragraph 8(3)(h) of the Act, this section determines how a general insurance company’s eligible premium income is to be worked out.

(2) For the purposes of paragraph 8(6)(b) of the Act, the period for which a general insurance company’s eligible premium income is to be worked out is the previous calendar year.

(3) For the purposes of paragraph 8(6)(a) of the Act, the part of the general insurance company’s premium income that is eligible premium income is the sum of:

(a) the company’s gross premium income (if any) from public liability insurance and from product liability insurance (if any) during the previous calendar year, worked out under subsection (4), but only so much of that gross premium income as, when multiplied by the special public/product percentage, does not exceed the special public/product maximum; and

(b) the company’s gross premium income from professional indemnity insurance (if any) during the previous calendar year, worked out under subsection (6), but only so much of that gross premium income as, when multiplied by the special professional percentage, does not exceed the special professional maximum.

(4) For the purposes of paragraph (3)(a), gross premium income from public liability insurance and product liability insurance during the previous calendar year is the sum of:

(a) the aggregate of the amounts required to be reported in:

(i) the policy file for the 6 months ending on 30 June of the previous calendar year; and

(ii) the policy file for the 6 months ending on 31 December of the previous calendar year;

in the column headed “Gross Earned Premium” (and referred to as “field 15b”), where the class of business reported in the column headed “Class of Business” (and referred to as “field 2”) is “Public & Product” (“PL”); and

(b) for each record in either of those policy files for which the general insurance company has not completed the column headed “Gross Earned Premium”—the aggregate of each GEP amount for that record worked out in accordance with subsection (5).

(5) For the purposes of subsection (4), a GEP amount for a record in a policy file is worked out using the formula:

Start formula GAP times F end formula where:

GAP is the gross annualised premium reported in the policy file in respect of the relevant policy in the column headed “Gross Annualised Premium” (and referred to as “field 15a”), where the class of business reported in the column headed “Class of Business” (and referred to as “field 2”) is “Public & Product” (“PL”).

F is the number of days during which the policy was in force in the 6 months covered by the policy file, expressed as a percentage of the number of days in the previous calendar year.

(6) For the purposes of paragraph (3)(b), gross premium income from professional indemnity insurance during the previous calendar year is the sum of:

(a) the aggregate of the amounts required to be reported in:

(i) the policy file for the 6 months ending on 30 June of the previous calendar year; and

(ii) the policy file for the 6 months ending on 31 December of the previous calendar year;

(7) For the purposes of subsection (6), a GEP amount for a record in a policy file is worked out using the formula:

Start formula GAP times F end formula where:

F is the number of days during which the policy was in force in the 6 months covered by the policy file, expressed as a percentage of the number of days in the previous calendar year.

(8) In this section:

policy file means a document (including an electronic document) that:

(a) a general insurance company submits to APRA for the period ending on 30 June or 31 December of the previous financial year; and

(b) complies with whichever of the following applies to the company:

(i) Reporting Standard GRS 800.1 Policy Data: Public and Product Liability and Professional Indemnity Insurance;

(ii) Reporting Standard LOLRS 800.1 Policy Data: Public and Product Liability and Professional Indemnity Insurance; and

(c) contains the information about individual policies required by the data specifications set out in that reporting standard.

record means a line entry or row in a policy file that contains information relating to a single insurance policy.

special professional maximum has the meaning given by subsection 5‑4(6).

special professional percentage has the meaning given by subsection 5‑4(6).

special public/product maximum has the meaning given by subsection 5‑4(6).

special public/product percentage has the meaning given by subsection 5‑4(6).

Part 6—Life insurance supervisory levy

6‑1 Definitions

In this Part:

the Act means the Life Insurance Supervisory Levy Imposition Act 1998.

Note: Expressions used in this Part have the same meaning as in the Act—see subsection 1‑5(1) of this instrument.

valuation day, in relation to a life insurance company, means:

(a) for a life insurance company that is a life insurance company at all times during the period from 17 March in the previous financial year to the following 30 June—31 March in the previous financial year; and

(b) for a life insurance company that was not a life insurance company at all times during the period from 17 March in the previous financial year to the following 30 June—the day after 17 March in the previous financial year, when the life insurance company became a life insurance company.

6‑2 Amount of levy

For the purposes of paragraphs 7(3)(a), (b), (c) and (ca) of the Act, the following table sets out matters for the current financial year.

Amount of levy
Item Company Maximum restricted levy amount ($) Minimum restricted levy amount ($) Restricted levy percentage Unrestricted levy percentage
1 Life insurance company 1,200,000 22,500 0.01130 0.005776

6‑3 Life insurance company’s levy base

(1) For the purposes of paragraph 7(3)(d) of the Act, a life insurance company’s levy base is to be worked out using this section.

(2) For the purposes of subsection 7(5) of the Act, the day as at which the levy base is to be worked out is the valuation day for the life insurance company.

(3) The levy base is the value of the life insurance company’s assets, as at the valuation day, worked out in the same way as the information “Total assets (item 15)” as described in Reporting Standard LRS 300.0 Statement of Financial Position, required to be reported as a dataset in a 12th column, but as if the reporting period ended on the valuation day.

Part 7—Private health insurance supervisory levy

7‑1 Definitions

In this Part:

the Act means the Private Health Insurance Supervisory Levy Imposition Act 2015.

Note: Expressions used in this Part have the same meaning as in the Act—see subsection 1‑5(1) of this instrument.

7‑2 Amount of supervisory levy

For the purposes of subsection 8(4) of the Act, for the current financial year:

(a) the amount of supervisory levy for each complying health insurance policy (a single policy) under which only one person is covered is worked out under section 7‑3; and

(b) the amount of supervisory levy for each complying health insurance policy that is not a single policy is twice the amount for a single policy.

7‑3 Amount of supervisory levy for a single policy

(1) The amount of supervisory levy for a single policy is the amount in cents worked out using the formula:

View image in the official source

where:

aggregate single policies means the total number of single policies on issue from all private health insurers on census day.

aggregate other policies means the total number of complying health insurance policies (other than single policies) on issue from all private health insurers on census day.

(2) However, if the amount worked out using the formula is more than $2, the amount of supervisory levy for a single policy is $2.

Note: For the definition of single policy, see paragraph 7‑2(a).

7‑4 Census day

For the purposes of subsection 8(5) of the Act, the first day of the current financial year is specified as the census day for the current financial year.

Part 8—Retirement savings account providers supervisory levy

8‑1 Definitions

In this Part:

the Act means the Retirement Savings Account Providers Supervisory Levy Imposition Act 1998.

Note: Expressions used in this Part have the same meaning as in the Act—see subsection 1‑5(1) of this instrument.

8‑2 Amount of levy

For the purposes of paragraphs 7(3)(a), (b), (c) and (ca) of the Act, the following table sets out matters for the current financial year.

Amount of levy
Item Provider Maximum restricted levy amount ($) Minimum restricted levy amount ($) Restricted levy percentage Unrestricted levy percentage
1 RSA provider Nil Nil Nil Nil

8‑3 RSA provider’s levy base

(1) For the purposes of paragraph 7(3)(d) of the Act, the RSA provider’s levy base is to be worked out by adding together each amount held in an RSA by the RSA provider.

(2) For the purposes of subsection (1), the day as at which the RSA provider’s levy base for the current financial year is to be worked out for an RSA provider mentioned in paragraph 7(5)(a) of the Act is 31 March of the previous financial year.

(3) For the purposes of subsection (1), the day as at which the RSA provider’s levy base for the current financial year is to be worked out for an RSA provider mentioned in paragraph 7(5)(b) of the Act is the day, after 17 March of the previous financial year, on which the RSA provider became an RSA provider.

Part 9—Superannuation supervisory levy

9‑1 Definitions

In this Part:

employer‑sponsor receivables has the same meaning as in Accounting Standard AASB 1056 Superannuation Entities [F2024L00075].

pooled superannuation trust has the meaning given by section 10 of the Superannuation Industry (Supervision) Act 1993.

SAF (short for small APRA fund) means a superannuation entity that:

(a) is a regulated superannuation fund within the meaning of the Superannuation Industry (Supervision) Act 1993; and

(b) has fewer than 5 members.

SMADF (short for single member approved deposit fund) means a superannuation entity that:

(a) is an approved deposit fund within the meaning of the Superannuation Industry (Supervision) Act 1993; and

(b) has only one member.

the Act means the Superannuation Supervisory Levy Imposition Act 1998.

Note: Expressions used in this Part have the same meaning as in the Act—see subsection 1‑5(1) of this instrument.

valuation day, in relation to an entity, means:

(a) for an entity that is a superannuation entity on 30 June of the previous financial year—that day; or

(b) for an entity that becomes a superannuation entity during the current financial year—the day on which the superannuation entity became a superannuation entity.

9‑2 Amount of levy

For the purposes of paragraphs 7(3)(a), (b), (c) and (ca) of the Act, the following table sets out matters for the current financial year:

Amount of levy
Entity Maximum restricted levy amount ($) Minimum restricted levy amount ($) Restricted levy percentage Unrestricted levy percentage
1 Superannuation entity that is a pooled superannuation trust on the levy imposition day 475,000 12,500 0.00359 0.001020
2 Superannuation entity that is a SAF or SMADF on the levy imposition day 590 590 Nil Nil
3 Superannuation entity not mentioned in item 1 or 2 950,000 12,500 0.00719 0.002516

9‑3 Superannuation entity’s levy base

(1) For the purposes of paragraph 7(3)(d) of the Act, this section sets out how a superannuation entity’s levy base is to be worked out.

(2) If the valuation day for a superannuation entity is 30 June of the previous financial year, the superannuation entity’s levy base is the amount that is required to be reported as at that day in:

(a) if Reporting Standard SRS 320.0 Statement of Financial Position applies to the entity for a reporting period that ends on that day—item 25 of Form SRF 320.0 Statement of Financial Position in that Reporting Standard; or

(b) otherwise—item 7 of Form SRF 800.0: Financial Statements in Reporting Standard SRS 800.0 Financial Statements.

(3) If the valuation day for a superannuation entity is during the current financial year, the superannuation entity’s levy base is to be worked out:

(a) if the superannuation entity consists entirely of the life insurance policies of individual members of the fund—in the same way as the current value of the policies on the valuation day is assessed by the insurer; or

(b) otherwise—by determining the net balance of the entity on the valuation day based on the audited accounts of the entity.

(4) Despite subsections (2) and (3), in working out a superannuation entity’s levy base, disregard the superannuation entity’s employer‑sponsor receivables.

Schedule 1—Repeals

Australian Prudential Regulation Authority Supervisory Levies Determination 2024

1 The whole of the instrument

Repeal the instrument.

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Australian Prudential Regulation Authority Supervisory Levies Determination 2025

I, Daniel Mulino, Assistant Treasurer and Minister for Financial Services, make the following determination.

Dated 26 June 2025

Dr Daniel Mulino

Assistant Treasurer Minister for Financial Services

Contents

Part 1—Preliminary

1‑1.............................................Name

1‑2.......................................Commencement

1‑3...........................................Authority

1‑4...........................................Schedule

1‑5.........................................Interpretation

1‑6.....................................Reporting Standards

Part 2—Australian Prudential Regulation Authority (Commonwealth costs)

2‑1..........................................Definitions

2‑2....................................Commonwealth costs

2‑3.........................Proportion of levy money paid to APRA

Part 3—Authorised deposit-taking institutions supervisory levy

3‑1..........................................Definitions

3‑2.......................................Amount of levy

3‑3.......................................ADI’s levy base

Part 4—Authorised non-operating holding companies supervisory levy

4‑1..........................................Definitions

4‑2.......................................Amount of levy

Part 5—General insurance supervisory levy

5‑1..........................................Definitions

5‑2.....................................General component

5‑3.........................General insurance company’s levy base

5‑4.....................................Special component

5‑5............Eligible premium income for working out special component

Part 6—Life insurance supervisory levy

6‑1..........................................Definitions

6‑2.......................................Amount of levy

The instrument pivots on a small set of recurring legal and accounting concepts, expressed sector‑by‑sector.

Levy imposition framework: each part operates “for the purposes of” specified paragraphs of the relevant imposition Act, that is, the Determination fixes the numerical and formulaic inputs the imposition Acts require. The parts repeatedly reference paragraphs 7(3)(a)-(d) (and similar) of the relevant Acts as the statutory hook for setting maximum/minimum amounts and levy bases (see, for example, s 3‑2, s 5‑2, s 6‑2, s 9‑2).

Valuation day and levy base: almost every sectoral Part defines a valuation day, commonly 31 March of the previous financial year for entities that were regulated during the March-June window, or the date the entity became regulated if it entered later (see ss 3‑1, 5‑1, 6‑1, 9‑1). The levy base is typically the entity’s asset value as at the valuation day, but the instrument prescribes the precise dataset item to use, so that the levy base is anchored to a specific APRA reporting form item or, where applicable, to insurer or fund valuation practices (for example, ss 3‑3, 5‑3, 6‑3, 9‑3).

Restricted and unrestricted percentages, and minima/maxima: each sectoral table sets a restricted levy percentage and an unrestricted levy percentage, and maximum and minimum restricted levy amounts. The restricted percentages and caps govern the fraction of the levy base that determines a “restricted” levy amount; the minimum and maximum bound that calculation (tables in ss 3‑2, 5‑2, 6‑2, 8‑2, 9‑2). For ADIs and some insurers the restricted percentages are small fractions (for example ADI unrestricted percentage 0.000719 in s 3‑2 item 3).

Special components and per‑policy levies: general insurers are subject to a two‑component structure, general and special. The special component relates to particular classes of liability business, measured by eligible premium income computed from APRA policy files and subject to caps and percentages (ss 5‑4, 5‑5). Private health insurance is levied on a per‑policy basis under a formula that uses aggregate counts on a single census day (ss 7‑2, 7‑3, 7‑4), with an absolute cap of $2 per single policy (s 7‑3(2)).

Data specification and reporting standards: reporting standards are central. Section 1‑6 fixes which version of a Reporting Standard applies, tying references to the version that applied to the reporting period ending on the relevant day; where identifiers change, subsection 1‑6(2) provides an adaptation rule. The Determination references specific Reporting Standards and form item numbers, for example Reporting Standard ARS 720.0 ARF 720.0A/B for ADI assets (s 3‑3), GRS 300.0 for general insurer assets (s 5‑3), GRS 800.1 policy data for premium calculations (s 5‑5(8)), LRS 300.0 for life insurers (s 6‑3), and SRS 320.0/SRS 800.0 for superannuation entities (s 9‑3).

Commonwealth allocation and APRA Special Account: the Determination specifies a $39.6m Commonwealth levy allocation from the superannuation levy class (s 2‑2), and that 86.0% of levy money paid to APRA on behalf of the Commonwealth is to be credited to APRA’s Special Account on an ongoing basis (s 2‑3). Those numbers govern the split between amounts retained by APRA and amounts payable to the Commonwealth.

Repeal of 2024 Determination: the instrument repeals the previous year’s Determination in full (Schedule 1). The effect is that the 2025 rules fully replace 2024 rules.

Definitions and cross‑references: the Determination uses statutory cross‑references (for example, definitions drawn from the Banking Act 1959 for ADI terms and from the Insurance Act 1973 for Lloyd’s). Where an item depends on external statutory meanings, the instrument leaves those meanings to the Acts referenced (s 1‑5(1)).

Together, these concepts create a rule‑driven, data‑anchored levy system for 2025-26, where the quantitative outcomes depend on a small number of percentages, caps, defined valuation days, and specified reporting items.

The Determination affects every entity subject to APRA supervisory levies under the imposition Acts listed in section 1‑3. That list identifies the legal instruments under which APRA may impose levies, and the Determination supplies the numeric and methodological parameters those Acts require.

Direct payers identified in the instrument include:

Authorised deposit‑taking institutions (ADIs), including foreign ADIs and providers of purchased payment facilities as separately categorised in s 3‑1 and s 3‑2. The ADI table in s 3‑2 distinguishes foreign ADIs, providers of purchased payment facilities, and other ADIs, and sets maximum and minimum restricted levy amounts and restricted/unrestricted percentages accordingly. ADIs must determine their levy base using specific ARS reporting form items (s 3‑3).
Authorised non‑operating holding companies (NOHCs). Each authorised NOHC has a fixed amount payable of $45,000 for the year (s 4‑2).
General insurers, including Lloyd’s, which are subject to a general component and a special component. The general insurer table sets the main restricted/unrestricted percentages, and s 5‑5 prescribes policy‑level reporting inputs to determine eligible premium income for the special component. General insurers in runoff have different treatment for the special component (s 5‑4(2) and (5)).
Life insurance companies, which use a specified reporting form item for total assets in LRS 300.0 to determine levy base (ss 6‑2, 6‑3).
Private health insurers, who are affected by a per‑policy levy based on the number of single and other policies on issue on census day, which the Determination specifies as the first day of the current financial year (ss 7‑2 to 7‑4).
Retirement savings account (RSA) providers. The table in s 8‑2 sets Nil for maximum/minimum and percentages, but s 8‑3 defines an RSA provider’s levy base as the sum of amounts held in RSAs, with valuation days specified. The Nil entries mean there is no levy charge for RSA providers this year, but the levy base methodology is set.
Superannuation entities. The superannuation table in s 9‑2 differentiates pooled superannuation trusts, SAFs/SMADFs, and other entities, with distinct maxima/minima and percentages. SAFs and SMADFs have a flat levy of $590 (s 9‑2 item 2), pooled trusts and larger funds have higher caps and percentages (s 9‑2 items 1 and 3). Importantly, employer‑sponsor receivables are excluded from the levy base (s 9‑3(4)).

Indirectly affected parties and operational stakeholders:

APRA itself, which receives and administers levy money. The instrument specifies that 86.0% of levy money paid to APRA on behalf of the Commonwealth be credited to APRA’s Special Account (s 2‑3), affecting APRA’s funding mix.
The Commonwealth, which receives a specific levy allocation of $39.6m from the superannuation levy class (s 2‑2). That allocation concentrates Commonwealth recovery on the superannuation sector for the current year.
Entities that supply or process reporting data, including internal finance and actuarial teams, outsourced administrators, and software vendors that must produce APRA reporting forms and policy files in the required formats referenced in ss 1‑6 and 5‑5.
Auditors and compliance professionals, because levy bases are tied to reported items in audited or reported financial statements and to policy file datasets that likely will require verification (see ss 3‑3, 5‑5, 9‑3).

Who does not pay this year, per the instrument: several classes that were previously potential sources of Commonwealth recovery are specified as Nil in the Commonwealth costs table (s 2‑2), and RSA providers have Nil in the RSA provider table (s 8‑2). That shifts the immediate financial burden to those sectors with non‑nil entries, especially superannuation entities for Commonwealth costs, and to sectors whose sectoral percentages and caps yield positive levies.

The Determination itself primarily creates duties to calculate and provide specified data and to have levy money payable under the imposition Acts fixed by reference to the numbers and formulae in this instrument. The underlying imposition Acts provide the enforceable rights and obligations to pay, collect, and recover levies; this Determination supplies the arithmetic inputs the Acts require.

Duties created or clarified by the Determination

Duty to calculate levy bases using specified reporting form items and valuation days: For example, ADIs must use the item identified in Reporting Standard ARS 720.0 (item 13 in ARF 720.0A/720.0B) or ARS 323.0 (item 11 in ARF 323.0) for total assets as at the valuation day (s 3‑3). Life insurers and general insurers are similarly directed to particular reporting items (ss 6‑3, 5‑3). Superannuation entities must use SRS 320.0 item 25 or SRS 800.0 item 7 when the valuation day is 30 June, and have alternative valuation rules if the valuation day is during the year (s 9‑3).
Duty to produce, and for general insurers to use, policy file entries conforming to Reporting Standard GRS 800.1 for the previous calendar year when calculating eligible premium income for the special component (s 5‑5(8)). That includes reliance on specific policy file fields “Gross Earned Premium” and “Gross Annualised Premium” (s 5‑5(4)-(7)).
Duty to apply caps, minima and maxima in the specified manner: for special components and sectoral caps, the Determination instructs how to cap eligible premium income and compute percentages (s 5‑4, s 5‑5(3)).
Duty to use the specified census day and aggregated counts for private health policy levies, with the census day defined as the first day of the current financial year (s 7‑4), and the per‑policy calculation governed by the formula in s 7‑3(1), with a hard cap of $2 per single policy (s 7‑3(2)).
Duty to exclude employer‑sponsor receivables from superannuation levy base calculations (s 9‑3(4)).

Rights and scope limitations

The Determination is limited to setting levy amounts, percentages, and methodological rules. It does not itself grant APRA new enforcement powers, nor does it specify timing for payment or remedies for non‑payment. Those procedural and enforcement rights remain in the imposition Acts cited in s 1‑3.
Entities retain any rights under the imposition Acts to seek review, objection, or to use statutory procedures relating to levy assessments, but this Determination determines the numerical inputs those processes will apply to for the current financial year. The instrument’s s 1‑5(1) cross‑reference rule clarifies that definitions in the underlying Acts apply within each Part.

Operational implications of duties

Data governance duty: because levy bases and special components reference specific reporting standard items and policy file fields, regulated entities must ensure the reported datasets are complete, contemporaneous with the valuation day, and consistent with the reporting standard versions that applied on the relevant days (s 1‑6).
Classification duty: entities must determine their classification at the relevant reference dates , e.g. whether an ADI is a provider of purchased payment facilities, a foreign ADI, or another ADI (s 3‑1), whether a general insurer is in runoff (s 5‑1), and whether a superannuation entity is a SAF/SMADF (s 9‑1).
Computation duty where data gaps exist: the Determination supplies arithmetic rules for computing Gross Earned Premium where the policy file omits it, via the GEP formula using Gross Annualised Premium and an F multiplier (s 5‑5(5), (7)). Entities must implement that fallback calculation.

Where the Determination is silent

Payment timing, invoicing, and enforcement are not set out in this instrument. Those matters, including possible interest, penalties, and recovery mechanisms, are to be found in the underlying imposition Acts and APRA’s administrative practices (see s 1‑3 and repeated references throughout the instrument to the relevant Acts).

The Determination does not itself create penalties or enforcement procedures. It is an instrument that specifies numeric and methodological inputs required by the imposition Acts; the legal authority for collection, recovery, compliance enforcement, and penalties remains in those Acts. Evidence for that structure appears across the Determination’s language, which repeatedly frames provisions as being “for the purposes of” specific paragraphs of an imposition Act (for example, ss 3‑2, 5‑2, 6‑2, 9‑2), and in s 1‑3 which identifies the Acts under which the instrument is made.

What the Determination does tell an enforcer or payer

Numeric targets and datasets: it fixes the amounts and the precise data items that will produce the levy quantum. Enforcement, therefore, will be exercised against levies calculated using these specified inputs. For example, a general insurance company’s special component depends on eligible premium income as worked out from policy files complying with Reporting Standard GRS 800.1 (s 5‑5(8)). An enforcement action for non‑payment would rest on the levy calculated using those inputs.
Allocation and crediting: s 2‑3 specifies that 86.0% of levy money paid to APRA on behalf of the Commonwealth is to be credited to the APRA Special Account. That direction establishes an accounting treatment APRA must apply, and non‑compliance with the allocation would raise internal accountability and possibly audit issues, but not new criminal or civil penalties against private payers beyond what the underlying Acts provide.

What is not specified, hence where the underlying Acts control

The timing for invoices, due dates, interest on late payments, and mechanisms for recovery such as seizing assets, imposing penalties, or referring debts to the Commonwealth’s collection processes are not set out in the Determination. Where a practitioner needs to know enforcement mechanics, they must consult the relevant imposition Act cited in s 1‑3.
Administrative dispute resolution, objection, or review procedures are not included. The Determination does not specify appeal rights against APRA’s calculation, or procedural steps for correcting errors in reported datasets. Those procedures, if any, will be governed by the imposition Acts or by APRA’s administrative guidance.

Practical enforcement consequences

Because the levy bases are tied to APRA reporting datasets, enforcement will likely involve cross‑checking reported form items and policy files. The Determination’s prescription of reporting standard items makes discrepancies between reporting and levy calculation a focal point for enforcement and dispute.
Entities that fail to provide the required policy file fields or reporting form entries risk APRA relying on the fallback calculations the Determination provides (for example the GEP formula in s 5‑5(5) and (7)), or on imposition Act enforcement remedies if the imposition Act authorises those steps.

In short, the Determination defines what is levied and how, it does not independently specify penalties or procedural enforcement mechanisms; those remain in the imposition Acts identified in s 1‑3.

The Determination is a derivative instrument that operates within the architecture of the imposition Acts and existing APRA reporting framework. It depends on, and integrates with, multiple statutory and regulatory layers.

Primary statutory interaction

Imposition Acts: the instrument is expressly made under the Australian Prudential Regulation Authority Act 1998 and eight supervisory levy imposition Acts listed in s 1‑3. Each Part of the Determination is framed to supply numeric or methodological material “for the purposes of” specified paragraphs of the relevant imposition Act (for example Parts 3-9 open by referencing the relevant Act at the head of the Part). That means the Determination does not create standalone levy powers, it fills in the parameter fields those Acts require.
Banking Act, Insurance Act and other sectoral legislation: several definitions in the Determination refer to terms defined in other statutes. For example, ADI and foreign ADI meanings are drawn from the Banking Act 1959 (s 1‑5(2) and s 3‑1), Lloyd’s is defined by the Insurance Act 1973 for general insurance purposes (s 5‑1), and the definition of RSA is from the Retirement Savings Accounts Act 1997 (s 1‑5(2)). That cross‑referencing means entity classification for levy purposes follows those sectors’ statutory definitions.

Interaction with APRA reporting law and standards

Reporting Standards determinative: section 1‑6 creates a rule for interpreting references to Reporting Standards, specifying that the version used is the one that applied to a reporting period that ended on the relevant day, and providing a substitution mechanism where an identifier has changed. Consequently, the Determination relies on the Financial Sector (Collection of Data) Act 2001 process by which APRA determines reporting standards, and it locks levy calculations to particular APRA reporting outputs. Parts of the Determination then reference concrete reporting form items within those Reporting Standards (for example ARS 720.0 ARF 720.0A/720.0B for ADI assets in s 3‑3).
Data specification compliance: the interplay means that changes to reporting standards or reporting form item identifiers will not automatically break the levy rules, because s 1‑6 provides a substitution path when identifiers change, but it requires careful mapping between reporting standard versions and the levy valuation day.

Accounting and valuation standards

Superannuation employer‑sponsor receivables: the instrument adopts an accounting standard reference, defining employer‑sponsor receivables as in AASB 1056 (s 9‑1). That creates an interaction between accounting standard definitions and levy base computation because those receivables must be disregarded when calculating a superannuation entity’s levy base (s 9‑3(4)).
Life insurer valuation: where a superannuation entity consists entirely of life policies, the levy base should be worked out “in the same way as the current value of the policies on the valuation day is assessed by the insurer” (s 9‑3(3)(a)), which tells the computation to follow insurer valuation practice rather than a reporting form item. That makes levy calculation sensitive to insurer valuation conventions.

Allocation and public funding laws

Commonwealth payment allocation: s 2‑2 specifies $39.6m payable to the Commonwealth from the superannuation class, and s 2‑3 directs that 86.0% of levy money paid to APRA on behalf of the Commonwealth is credited to the APRA Special Account. Those directions interact with Commonwealth appropriation and special account rules, as they govern what portion of collected levies is treated as APRA funding and what portion as Commonwealth receipts.

Practical cross‑law consequences

Any changes to reporting standards, accounting standards, or to the sectoral legislation defining entity classes will cascade into levy outcomes. The Determination anticipates identifier changes by s 1‑6, but material changes in Reporting Standard content, in the definition of classes, or in valuation rules could change levy bases, levy quantum, administrative burden, and potential disputes.
The Determination’s reliance on policy file fields as a levy input can create a direct normative link between prudential reporting regimes and tax/levy consequences. Entities need to consider the implications of APRA reporting compliance not only for prudential supervision, but also for levy exposures.

This Determination replaces and repeals the entire Australian Prudential Regulation Authority Supervisory Levies Determination 2024 (Schedule 1). The instrument is dated 26 June 2025 and commences in full on 1 July 2025, as shown by the commencement table in section 1‑2 which states “The whole of this instrument 1 July 2025” and the note that the table reflects the instrument as originally made (s 1‑2). The Schedule explicitly repeals the 2024 instrument: “The whole of the instrument Repeal the instrument” (Schedule 1).

What the Determination does not show

The text does not include a history of prior amendments to the 2024 Determination, nor does it publish a clause‑by‑clause comparison against the 2024 rules. It simply repeals the prior instrument and supplies the 2025 parameters. Any practitioner seeking a line‑by‑line change log must compare the 2024 Determination text with the new text; the Determination itself contains no such comparative schedule.
The Determination does not indicate that specific provisions are transitional or save particular rights or liabilities under the 2024 instrument. By repealing the entire 2024 instrument, the Determination signals that for the 2025-26 levy year, the 2025 rules control. Transitional arrangements, if any, would need to be located in the underlying imposition Acts or in separate administrative guidance by APRA.

Notable single changes apparent from the text

Commonwealth allocation change: the Commonwealth costs table (s 2‑2) shows that only the superannuation levy class carries a non‑nil Commonwealth allocation ($39.6m). Whether that differs from the 2024 allocation requires external comparison, which the Determination does not supply. The instrument itself makes the 2025 allocation definitive.
RSA and other Nil entries: the 2025 Determination sets Nil for RSA providers (s 8‑2) and for several levy classes in relation to Commonwealth costs (s 2‑2 items 1-3, 5-7). Again, whether this is a change from 2024 is not stated here.

Practical step for tracking amendments

To build a formal amendment history, extract the 2024 Determination text, compare key numeric fields (tables in Parts 2-9), valuation day rules, and Reporting Standard references, and document any differences. The statutory commencement and repeal provisions in this instrument are definitive for 1 July 2025.

The Determination contains no references to litigation, cases, or judicial decisions. It is a statutory instrument that sets levy parameters; it does not cite judicial authority or report legal challenges. Where litigation could arise, it would be under the imposition Acts or related administrative law, but the Determination itself does not provide any litigation history or indicate existing disputes.

For practitioners looking for precedents or disputes

The Determination does not identify any prior litigation about levy calculations, reporting standards, or APRA’s levy collection. Any search for litigation would need to go beyond this instrument to decisions under the imposition Acts, judicial review actions against APRA’s levy administration, or administrative dispute records.
Given the Determination’s technical reliance on reporting standards and dataset items, probable dispute areas (not evidenced in the text) would include classification disputes (e.g. whether an entity is a foreign ADI, a provider of purchased payment facilities, an entity in runoff, or a pooled superannuation trust), disagreement over valuation day or valuation method, and challenges to APRA’s use of reported data for levy calculation. The Determination does not set out a statutory review procedure; those procedures, if any, would be in the underlying Acts.

What to record in the litigation watchlist

Any challenge to the use of policy file data for special components (s 5‑5) could hinge on the adequacy of dataset fields and the fallback GEP calculation. Challenges to APRA’s interpretation of reporting standard data could surface as administrative law matters.
Disputes over the exclusion of employer‑sponsor receivables from the superannuation levy base (s 9‑3(4)) could engage accounting standard interpretation of AASB 1056.
Because the Determination allocates a large Commonwealth recovery to superannuation ($39.6m, s 2‑2) and specifies APRA’s Special Account allocation (s 2‑3), fiscal challenges or parliamentary scrutiny might arise, but the Determination itself does not record any such controversy.

In sum, the Determination contains no litigation history; practitioners seeking precedents must look to separate case law or administrative reviews under the underlying Acts and APRA’s records.

The Determination contains several technical traps and operational complexities that increase compliance risk if missed. These are concrete, source‑grounded points drawn from the text.

Valuation day nuance across entities, watch for “became” language

Valuation day rules vary if an entity was not regulated for the entire period from 17 March to 30 June of the previous financial year. For ADIs, general insurers, life insurers, and others the valuation day is 31 March for entities that were regulated throughout that window, but is instead “the day after 17 March in the previous financial year on which the [entity] became” regulated for entities that entered late (see ss 3‑1, 5‑1, 6‑1). Practically, a mid‑March entry can change the valuation date from 31 March to a specific later day, which will change asset totals or policy counts used for levies.

Reporting standard versioning and identifier substitution

Section 1‑6 locks the Reporting Standard version to the one that applied to the reporting period that ended on the relevant day, but also provides a substitution rule where an identifier has changed. If APRA changes Reporting Standard identifiers or reorganises fields after your valuation day, you must map the historic identifier to the current standard using s 1‑6 rules. Failure to do so can produce mismatches between the dataset used for prudential reporting and the dataset APRA expects for levy calculations.

Policy file dependence for general insurers, with fallback arithmetic

The special component for general insurers relies on policy file entries reporting “Gross Earned Premium” and “Gross Annualised Premium”, and requires aggregation across two 6‑month policy files for the previous calendar year (s 5‑5(4), (6), (8)). Where “Gross Earned Premium” is absent for a record, the GEP fallback uses GAP (Gross Annualised Premium) times an F fraction equal to the days the policy was in force over the previous calendar year (s 5‑5(5) and (7)). Operationally, insurers must ensure completeness of policy files or accept that APRA will use the fallback arithmetic, which could materially change the eligible premium income figure.

Caps and maxima create non‑linear outcomes

Eligible premium income is subject to caps before percentages are applied (s 5‑5(3)). For both public/product and professional indemnity components there are maxima and minima, and special percentages are applied after capping (s 5‑4(6) and s 5‑5(3)). This creates discontinuities where small changes in reported GEP can push a company above a cap, materially changing the levy.

Private health per‑policy calculation depends on aggregate market counts

The per‑policy levy for private health insurers requires the aggregate number of single and other policies on issue across all private health insurers on census day, which is the first day of the current financial year (s 7‑4, s 7‑3). That means an individual insurer’s levy per policy depends on sector‑wide counts, not its own policy volume alone. Timely and accurate sector aggregation is therefore critical, and individual insurers cannot compute their levy in isolation without APRA sector counts.

RSA providers show a Nil levy, but levy base rules are present

Section 8‑2 sets Nil across maximum, minimum and percentages for RSA providers, which means no levy charge for the year. However, s 8‑3 still prescribes how to work out the RSA provider’s levy base, with valuation days. Entities should not infer that reporting obligations are suspended; the presence of a levy base rule suggests APRA preserves the ability to levy in future years and may still expect reporting.

Superannuation exclusion of employer‑sponsor receivables

Superannuation levy bases must disregard employer‑sponsor receivables as defined in AASB 1056 (s 9‑3(4) and s 9‑1). Funds must therefore reconcile their reporting and accounting treatments to ensure these receivables are excluded from levy base calculations, or else risk overstating the levy base.

Minimum levy floors may bite small entities

Minimum restricted levy amounts are often set at $22,500 for multiple sectors (see s 3‑2 items, s 5‑2 minimum $22,500, s 6‑2 minimum $22,500), which can create disproportionate fixed costs for smaller regulated entities. SAFs and SMADFs have a different flat amount of $590 (s 9‑2 item 2), so classification as a SAF or SMADF matters materially.

Commonwealth allocation concentrated in superannuation

The Commonwealth cost table (s 2‑2) shows that only the superannuation class bears a Commonwealth allocation ($39.6m). That concentration may materially increase levies for superannuation entities this year compared to other sectors, and could mean significant administrative attention from funds.

No procedural or penalty detail in this Determination

The Determination supplies the how much and how to compute, but not when to pay, interest, or collection mechanisms. Practitioners must consult the imposition Acts for procedural details. Assuming payment mechanics are in this instrument is a mistake.

These specific technical features are the practical “gotchas” that create compliance risk, computation complexity, and potential disputes if not anticipated and handled in reporting and internal control processes.

This section sets out a step‑by‑step compliance checklist, grounded in the Determination’s text. It assumes the practitioner is advising a regulated entity subject to an imposition Act referenced in section 1‑3.

Confirm statutory classification and relevant Part

Verify which imposition Act applies to the entity, using s 1‑3 as the starting point. Confirm entity classification at the relevant reference dates, for example whether an ADI is a foreign ADI or a provider of purchased payment facilities (ss 3‑1, 3‑2), whether a general insurer is in runoff (s 5‑1), whether a superannuation entity is a pooled superannuation trust or a SAF/SMADF (s 9‑1).
Check the external statutory definitions referenced by the Determination (e.g. Banking Act s 5 and s 17 references implied by s 3‑1, Insurance Act 1973 definition of Lloyd’s referenced in s 5‑1), because classification affects valuation day, levy base, and applicable table.

Determine valuation day

Apply the valuation day rules in the relevant Part. If your entity was regulated continuously across 17 March to 30 June of the previous financial year, the valuation day will generally be 31 March in the previous financial year (see ss 3‑1, 5‑1, 6‑1). If the entity became regulated after 17 March, identify the relevant “day after 17 March” on which the entity became regulated; that day is the valuation day.

Identify the correct Reporting Standard version and reporting form item

Use s 1‑6 to determine which Reporting Standard version applies as at the valuation day. Then use the Part‑specific instruction to find the exact item: e.g., ADIs use item 13 in ARF 720.0A/B or item 11 in ARF 323.0 depending on the Reporting Standard applying to the ADI (s 3‑3); life insurers use item 15 in LRS 300.0 (s 6‑3); superannuation entities use SRS 320.0 item 25 or SRS 800.0 item 7 (s 9‑3(2)).

Extract and reconcile reported data

For balance‑sheet based levy bases, extract the indicated item as at the valuation day and reconcile to audited financial statements or APRA reporting submissions to ensure consistency. For works relying on policy files, extract the policy files for the two 6‑month periods covering the previous calendar year required by s 5‑5(4) and (6).
For policy files, ensure fields “Gross Earned Premium” (field 15b) and “Gross Annualised Premium” (field 15a) are completed where relevant. If “Gross Earned Premium” is missing for a record, apply the fallback GEP = GAP × F formula where F is the proportion of days in force in the six‑month period relative to the days in the previous calendar year (s 5‑5(5), (7)).

Apply caps, percentages and minima/maxima exactly

For the special component caps, only include so much of a company’s gross premium income as produces a product that does not exceed the special maximum when multiplied by the special percentage (s 5‑5(3)). Apply the special percentages from s 5‑4(6). For general and restricted/unrestricted percentages and maxima/minima apply the exact numbers in the relevant Part table (e.g. s 3‑2, s 5‑2, s 6‑2, s 9‑2).

For private health insurers, aggregate market counts

For the private health levy, identify the census day (s 7‑4), which is the first day of the current financial year. Collate aggregate single policy and aggregate other policy counts across the sector, because the per‑policy levy is computed using the sector aggregates in the formula in s 7‑3(1). Apply the $2 cap per single policy as a maximum (s 7‑3(2)).

For superannuation entities, exclude employer‑sponsor receivables

Apply s 9‑3(4) to disregard employer‑sponsor receivables, as defined in AASB 1056, when computing the levy base. Reconcile any differences between the reporting form item and the audited statement to ensure these receivables are excluded.

Document methodology and produce audit trail

Maintain an audit trail that links the levy calculation to the exact reporting standard, form, item, valuation day and dataset used (s 1‑6, ss 3‑3, 5‑3, 6‑3, 9‑3). Where fallback arithmetic is used (s 5‑5), document each record’s GAP and F values and the derived GEP.

Anticipate sector‑wide impacts where relevant

For private health insurers the levy per policy depends on aggregate counts; coordinate with industry bodies or APRA to obtain the aggregate numbers used if APRA supplies them. For ADIs and insurers, monitor whether your reported total assets or policy data approach key caps which produce non‑linear changes in levy quantum.

Check payment mechanics and enforcement in the underlying imposition Act

Because the Determination does not include invoicing or recovery procedures, consult the relevant imposition Act for timing, interest, and enforcement rights and obligations (see s 1‑3). Ensure internal budgets account for the levy amounts once computed.

Review classification changes and lifecycle events

If your entity changes classification (for example becomes an ADI, converts to runoff, or becomes a SAF), then recompute the valuation day and levy base according to the provisions that apply where entities became regulated during the window (see valuation day provisions in each Part).

Plan for system and data changes

If Reporting Standards or form identifiers change, use s 1‑6 substitution rule and update mapping logic in reporting systems to ensure the historical version applies to the valuation day. Ensure data retention policies keep the historical reporting datasets for audit.

Seek clarification from APRA where necessary

For ambiguous cases such as valuation methodology for life policies or interpretation of policy file fields, seek APRA guidance. The Determination defines the inputs but not dispute resolution procedures; APRA administrative guidance will be the practical path to clarifying operational questions.

Following the above steps aligns calculation and reporting with the Determination’s prescriptions, while acknowledging the Determination does not set out collection timing or enforcement, which remain in the imposition Acts.

Australian Prudential Regulation Authority Supervisory Levies Determination 2025

Plain English Summary

Deep Dive

What it does

Current sections