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Second Reading Speeches

Authorised Deposit-taking Institutions Supervisory Levy Imposition Amendment Bill 2020

Type
Government
Portfolio
Treasury
Originating house
House of Representatives
Status
Act
Parliament no
46

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Summary

Part of a package of seven bills to implement changes to the financial institution supervisory levy framework, the bill amends the

Authorised Deposit-taking Institutions Supervisory Levy Imposition Act 1998
to: increase the statutory upper limit on the authorised deposit-taking institutions supervisory levy to $10 million for the financial year commencing on 1 July 2020; and amend the calculation of the indexation factor used to establish the statutory upper limits applying in later years.