Australian Transaction Reports and Analysis Centre Supervisory Cost Recovery Levy Determination 2012 (No 2) [1]
 
Australian Transaction Reports and Analysis Centre Supervisory Cost Recovery Levy Act 2011
I, JASON CLARE, Minister for Home Affairs, Minister for Justice, make this Determination under subsection 9(1) of the Australian Transaction Reports and Analysis Centre Supervisory Cost Recovery Levy Act 2011.
 
Dated  2 February 2012
 
 
 
[Signed]
JASON CLARE
Minister for Home Affairs, Minister for Justice
 
1         Name of Determination
This Determination is the Australian Transaction Reports and Analysis Centre Supervisory Cost Recovery Levy Determination 2012 (No 2).
2         Commencement
This Determination commences on the day after it is registered.
3         Definitions
In this Determination:
Act means the Australian Transaction Reports and Analysis Centre Supervisory Cost Recovery Levy Act 2011.
ADI (short for authorised deposit-taking institution) has the same meaning as in the AML/CTF Act.
AML/CTF Act means the Anti-Money Laundering and Counter-Terrorism Financing Act 2006.
acquired refers to the acquisition of the business of an entity.
AUSTRAC has the same meaning as in the AML/CTF Act.
AUSTRAC CEO has the same meaning as in the AML/CTF Act.
census day, in relation to the financial year, has the same meaning as in the Act.
earnings, in relation to a leviable entity, means:
(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
(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
(c)      in any other case – the total earnings before tax, interest, depreciation and amortisation (EBITDA) not adjusted for significant items;
of that 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.
Note:    The above definition recognises that entities may have annual accounting periods that end on other than 30 June in any year and that the most recent annual earnings figure for an entity is to be the basis of the large entity component of the levy.
group of leviable entities means all leviable entities that are related bodies corporate.
financial year means the financial year beginning on 1 July 2011.
foreign company has the same meaning as in the Corporations Act 2001.
leviable entity, in relation to the financial year, has the same meaning as in the Act.
leviable 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 2010:
(a)      a report given by the leviable entity under subsections 43(2) or 45(2) of the AML/CTF Act;
(b)      a report given by the leviable entity under subsections 7(3) or 17B(3) of the Financial Transaction Reports Act 1988;
(c)      a report of the type referred to in paragraphs (a) and (b) 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
(d)      a report of the type referred to in paragraphs (a) and (b) that was given by another leviable entity that, prior to the census day, was acquired by the leviable entity.
previous financial year means the financial year beginning on 1 July 2010.
related bodies corporate has the same meaning as in the Corporations Act 2001.
remittance affiliate means a leviable entity that:
(a)      provides a designated service covered by item 31 or 32 of table 1 in section 6 of the AML/CTF Act; and
(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.
registered financial corporation has the same meaning as registered entity in the Financial Sector (Collection of Data) Act 2001.
subsidiary has the same meaning as in the Corporations Act 2001.
4         Amount of levy
(1)      For subsection 9(1) of the Act, the amount of levy payable for the financial year by a leviable entity is to be calculated in accordance with the following formula:
base component
+
large entity component
+
transaction reporting component
Note :                 Subsection 9(5) of the Act provides that if (apart from that subsection) the amount of levy payable by a leviable entity would be less than the statutory minimum, the amount of levy payable by the entity is nil.  For the financial year, the statutory minimum is $100.
(2)      Despite subitem (1), for subsection 9(1) of the Act, the amount of levy payable for the financial year by a leviable entity that, in the previous financial year:
(a)      provided a designated service or services only in the capacity of a remittance affiliate; and
(b)      did not provide a designated service in any other capacity;
is nil.
5         Base component
(1)      The base component for a leviable entity is $300.
(2)      Despite subitem (1), the base component for a leviable entity that, as at the census day:
(a)      has fewer than 5 employees; and
(b)      has a large entity component of nil for the financial year;
is nil.
6         Large entity component
(1)      The large entity component for a leviable entity is:
(a)      for a leviable entity that is not a part of a group of leviable entities – the relevant amount in the second column of the table below; or
(b)      for a leviable entity that is part of a group of leviable entities – the relevant amount in the second column of the table below divided by the number of leviable entities in the group.
If the earnings for a leviable entity, or the total earnings for a group of leviable entities, is …
… the relevant amount below

Equal to or greater than $6,000,000,000
$2,300,000

Equal to or greater than $5,000,000,000 but less than $6,000,000,000
$1,950,000

Equal to or greater than $4,000,000,000 but less than $5,000,000,000
$1,450,000

Equal to or greater than $3,000,000,000 but less than $4,000,000,000
$950,000

Equal to or greater than $1,500,000,000
but less than $3,000,000,000
$450,000

Equal to or greater than $700,000,000
but less than $1,500,000,000
$300,000

Equal to or greater than $350,000,000
but less than $700,000,000
$130,000

Equal to or greater than $150,000,000
but less than $350,000,000
$60,000

Equal to or greater than $100,000,000 but less than $150,000,000
$20,000

Less than $100,000,000
nil

(2)      For the purposes of subitem (1), where a leviable entity is a foreign company only the earnings of that entity which are derived from operations in Australia is to be taken into account in determining the earnings of that entity, or the total earnings of the group of leviable entities of which the entity is a member.
(3)      Where:
(a)      a leviable entity is a foreign company or a subsidiary of a foreign company; and
(b)      the large entity component for that leviable entity under subitem (1) is nil; and
(c)      the total earnings of that leviable entity and its related bodies corporate is equal to or greater than $100,000,000;
           then, despite subitem (1), the large entity component for that leviable entity is:
(d)      for a leviable entity that is not a part of a group of leviable entities – $20,000; or
(e)      for a leviable entity that is part of a group of leviable entities – $20,000 divided by the number of leviable entities in the group.
7         Transaction reporting component
(1)      Unless subitem (2) applies, the transaction reporting component for a leviable entity is to be calculated in accordance with the following formula:
1 cent for each leviable report
+
0.0005991 per cent of the value of the leviable report
(2)      The transaction reporting component for a leviable entity is:
(a)      for a leviable entity that is not a part of a group of leviable entities and has a total value of leviable reports greater than $200,000,000,000 – $1,346,000; or
(b)        for a leviable entity that is part of a group of leviable entities that, in aggregate, has a total value of leviable reports greater than $200,000,000,000 – $1,346,000 divided by the number of leviable entities in the group.
(3)      Despite subitems (1) and (2), the transaction reporting component does not apply to a leviable report that relates to a transaction that occurred before 1 January 2010.
(4)      Despite subitems (1) and (2), where a leviable report of the type referred to in paragraphs (c) or (d) 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.
(5)      In this item, a reference to the value of a leviable report is a reference to the transaction to which the leviable report relates and the total value of leviable reports is to be calculated accordingly.
(6)      In this item a reference to a 'leviable entity' is a reference to a leviable entity that has submitted at least one leviable report (not coming within subitem (3)) and a reference to a 'group of leviable entities' is confined to those members of a group that have each submitted at least one leviable report (other than one coming within subitem (3)).

[1]       All legislative instruments and compilations are registered on the Federal Register of Legislative Instruments kept under the Legislative Instruments Act 2003. See http://www.frli.gov.au.