29/04/2026
CSLR levy update (2026–27): brokers get slugged for financial advisors – and invoice timing is raising eyebrows
ASIC has released fresh estimates for the 2026–27 Compensation Scheme of Last Resort (CSLR) levy, with higher projected costs across multiple sectors.
In a recent The Adviser article, our director Greg Ashe shares why the real friction point isn’t just the levy – it’s how it’s calculated and how invoices are issued.
Key points are:
• Credit intermediation: $2.16m expected (up from $1.8m in 2025–26) across 4,095 entities → $100 minimum + $37.11 per credit representative. ASIC information sheet says $37 but that creates a huge rounding error when you have a lot of reps!
• Credit providers: $2.00m projected across 987 entities. Securities dealers: $6.48m across 1,164 entities.
• Personal financial advice: estimate of $126.85m across 2,851 advice entities. The standard annual levy is capped at $20m; the remaining $106.85m depends on ministerial approval (special levy).
• What CSLR covers: eligible unpaid AFCA determinations where a firm has collapsed/can’t pay – up to $150,000 (across four subsectors).
• Key concern (per Greg Ashe): a billing timing shift is creating confusion and cashflow pressure – licensees have received two invoices in the same financial year, prompting calls for clearer, more transparent ASIC communication.
Greg puts it simply: “The problem is not the charge … the problem is the lack of transparency of the invoices.”
If you’re a licensee, it’s worth reviewing how your CSLR levy is being timed and calculated – and budgeting for any one-off cashflow impacts.
Has your firm been caught by the billing timing change yet? What would make the levy process clearer or fairer?
General information only – not legal, tax, or financial advice.
See article below:
CSLR levies land early as backlash over rollout erupts - The Adviser
