Australian Transaction Reports and Analysis Centre Industry Contribution Census Day Determination 2015 (No. 2)

Overview

The Australian Transaction Reports and Analysis Centre Industry Contribution Census Day Determination 2015 (No. 2) was enacted to provide clarity and certainty regarding the date on which the Australian Transaction Reports and Analysis Centre (AUSTRAC) will determine the liability of reporting entities to pay the industry contribution levy. This determination was introduced under the Australian Transaction Reports and Analysis Centre Industry Contribution Act 2011, which itself was a response to the 2014 Budget announcement to implement an industry contribution arrangement to fund AUSTRAC’s regulatory and intelligence functions. By legislative instrument, the AUSTRAC Chief Executive Officer has determined that the census day for the financial year beginning 1 July 2015 is 14 September 2015. This determination ensures that leviable entities are aware of the specific date on which their liability to pay the levy will be assessed, thereby providing administrative clarity and facilitating compliance. The determination is compatible with the human rights and freedoms recognised or declared in the international instruments listed in section 3 of the Human Rights (Parliamentary Scrutiny) Act 2011, as confirmed in the Statement of Compatibility.

Scope and Application

The Australian Transaction Reports and Analysis Centre Industry Contribution Census Day Determination 2015 (No. 2) specifies the census day for the financial year beginning on 1 July 2015 as 14 September 2015. This determination is made under the Australian Transaction Reports and Analysis Centre Industry Contribution Act 2011, which imposes a levy on leviable entities. A leviable entity is defined as a reporting entity that provided a designated service within the previous financial year and is enrolled on the Reporting Entities Roll on the census day. This legislative instrument applies to entities that are liable to pay the industry contribution levy imposed under the Australian Transaction Reports and Analysis Centre Industry Contribution (Collection) Act 2011, and the geographic reach of this determination is national, as it is a Commonwealth instrument. The Statement of Compatibility included in this determination asserts that it is compatible with the human rights and freedoms recognised or declared in the international instruments listed in section 3 of the Human Rights (Parliamentary Scrutiny) Act 2011. The AUSTRAC CEO, as the maker of this legislative instrument, has stated that it is compatible with the human rights, and no human rights implications are identified in this determination.

Key Provisions

The Australian Transaction Reports and Analysis Centre Industry Contribution Census Day Determination 2015 (No. 2) (the Determination) sets out the specific date by which entities must be enrolled on the Reporting Entities Roll to determine their liability for the AUSTRAC industry contribution levy. Specifically, Section 3 of the Determination establishes that the census day for the financial year beginning on 1 July 2015 is 14 September 2015. This means that any reporting entity that is a leviable entity must be enrolled on the Reporting Entities Roll by this date to ascertain whether they are liable to pay the levy. The determination of the census day is a critical administrative step in the process of imposing and collecting the industry contribution levy under the Australian Transaction Reports and Analysis Centre Industry Contribution Act 2011 (the Industry Contribution Act) and the Australian Transaction Reports and Analysis Centre Industry Contribution (Collection) Act 2011. The Determination imposes clear obligations on reporting entities, particularly those that are leviable entities. These entities must ensure that they are enrolled on the Reporting Entities Roll by the specified census day, 14 September 2015. This enrolment is necessary for the AUSTRAC CEO to accurately determine the amount of the levy that each leviable entity must pay. The process of enrolment and the adherence to the census day are crucial for the proper functioning of the industry contribution arrangement designed to fund AUSTRAC’s regulatory and intelligence functions. Failure to enrol on time may result in uncertainty or potential non-compliance with the levy requirements, thereby affecting the entity’s financial obligations. The Determination does not explicitly outline specific offences, penalties, or consequences for breach within its text. However, the overarching legislative framework under which it operates—namely, the Industry Contribution Act and the Collection Act—likely includes provisions for enforcement and penalties. Typically, failure to comply with the requirements to pay the industry contribution levy or to enrol on the Reporting Entities Roll by the census day could result in civil or criminal penalties. These may include fines or other enforcement actions as prescribed under the relevant Acts. The exact penalties would be detailed in the primary legislation, but they generally aim to ensure compliance and the accurate collection of the industry contribution to support AUSTRAC’s functions.