Superannuation Auditor Registration Imposition Regulation 2012

Administered by Department of the Treasury

Legislation au F2012L02405 Regulations Not in force Legislative Instrument

Legislation content

Superannuation Auditor Registration Imposition Regulation 2012

Select Legislative Instrument No. 329, 2012

made under the

Superannuation Auditor Registration Imposition Act 2012

Compilation No. 2

Compilation date:   1 July 2019

Includes amendments up to: F2019L00390

Registered:    17 July 2019

 

About this compilation

This compilation

This is a compilation of the Superannuation Auditor Registration Imposition Regulation 2012 that shows the text of the law as amended and in force on 1 July 2019 (the compilation date).

The notes at the end of this compilation (the endnotes) include information about amending laws and the amendment history of provisions of the compiled law.

Uncommenced amendments

The effect of uncommenced amendments is not shown in the text of the compiled law. Any uncommenced amendments affecting the law are accessible on the Legislation Register (www.legislation.gov.au). The details of amendments made up to, but not commenced at, the compilation date are underlined in the endnotes. For more information on any uncommenced amendments, see the series page on the Legislation Register for the compiled law.

Application, saving and transitional provisions for provisions and amendments

If the operation of a provision or amendment of the compiled law is affected by an application, saving or transitional provision that is not included in this compilation, details are included in the endnotes.

Editorial changes

For more information about any editorial changes made in this compilation, see the endnotes.

Modifications

If the compiled law is modified by another law, the compiled law operates as modified but the modification does not amend the text of the law. Accordingly, this compilation does not show the text of the compiled law as modified. For more information on any modifications, see the series page on the Legislation Register for the compiled law.

Self‑repealing provisions

If a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes.

 

 

 

Contents

Part 1—Preliminary

1 Name of regulation

3 Definitions

Part 2—Prescribed fees

4 ASIC fees

4A Registry fees

5 Method for calculating fees in subsequent financial years

Part 3—Application, saving and transitional provisions

Division 1—Amendments made by the Treasury Laws Amendment (ASIC Cost Recovery and Fees) Regulations 2019

6 Indexation of fees

Endnotes

Endnote 1—About the endnotes

Endnote 2—Abbreviation key

Endnote 3—Legislation history

Endnote 4—Amendment history

 

Part 1—Preliminary

1  Name of regulation

  This regulation is the Superannuation Auditor Registration Imposition Regulation 2012.

3  Definitions

  In this regulation:

Act means the Superannuation Auditor Registration Imposition Act 2012.

indexable matter: see subsection 5(2).

SIS Act means the Superannuation Industry (Supervision) Act 1993.

Part 2—Prescribed fees

4  ASIC fees

  For the purposes of section 4 of the Act, the fee mentioned in column 2 of an item of the following table is prescribed for the matter mentioned in column 1 of the item.

 

ASIC fees

Item

Column 1
Fee payable for ...

Column 2
Fee

1

applying for registration as an approved SMSF auditor

$1,927

1A

applying for conditions imposed on registration as an approved SMSF auditor to be varied or revoked under section 128D of the SIS Act

$1,028

1B

applying for registration as an approved SMSF auditor to be cancelled under section 128E of the SIS Act

$899

2

undertaking a competency examination in accordance with section 128C of the SIS Act

$107

3

giving the Regulator a statement under section 128G of the SIS Act

nil

4

giving to the Regulator a statement under section 128G of the SIS Act within 1 month after it fell due (in addition to the fee payable because of item 3)

nil

5

giving to the Regulator a statement under section 128G of the SIS Act more than 1 month after it fell due (in addition to the fee payable because of item 3)

nil

6

giving to the Regulator particulars under section 128H of the SIS Act within 1 month after they fell due

nil

7

giving to the Regulator particulars under section 128H of the SIS Act more than 1 month after they fell due

nil

4A  Registry fees

  For the purposes of section 4 of the Act, the fee mentioned in column 2 of an item of the following table is prescribed for the matter mentioned in column 1 of the item.

 

Registry fees

Item

Column 1
Fee payable for ...

Column 2
Fee

1

inspecting or searching a register that the Regulator keeps under Division 1A of Part 16 of the SIS Act for a current extract

nil

2

inspecting or searching a register that the Regulator keeps under Division 1A of Part 16 of the SIS Act for a historical extract, except if the request to inspect or search is made by a journalist

$19

3

inspecting or searching a register that the Regulator keeps under Division 1A of Part 16 of the SIS Act for a historical extract, if the request to inspect or search is made by a journalist

nil

4

inspecting or searching an extract given to or issued by the Regulator under Division 1A of Part 16 of the SIS Act (other than an order made under subsection 130F(2) of that Act), except if the request to inspect or search is made by a journalist

$19

5

inspecting or searching an extract given to or issued by the Regulator under Division 1A of Part 16 of the SIS Act (other than an order made under subsection 130F(2) of that Act), if the request to inspect or search is made by a journalist

nil

5  Method for calculating fees in subsequent financial years

 (1) For the purposes of paragraph 4(2)(b) of the Act, the amount of a fee on or after 4 July 2018 is, subject to subsections (2A) to (4), the amount mentioned in column 2 of an item in the table in section 4 or 4A.

Indexable matters

 (2) A matter is an indexable matter if it is mentioned in an item in the table in section 4A, and the fee is not nil.

 (2A) For the purposes of paragraph 4(2)(b) of the Act, in the financial year starting on 1 July 2019, or a subsequent 1 July, if the latest CPI number is greater than the earlier CPI number, the fee for an indexable matter is the amount worked out using the formula:

where:

previous indexable amount is the amount of the fee for the indexable matter that was applicable immediately before that 1 July.

 (3) If the latest CPI number is not greater than the earlier CPI number, the fee for the matter that is an indexable matter is the amount of the fee that was applicable immediately before that 1 July.

 (4) If, apart from this subsection, the amount worked out under subsection (2A) would be an amount of dollars and cents, the amount is to be rounded to the nearest whole dollar and, if the amount to be rounded is 50 cents, rounded down.

 (5) For this section:

 (a) if the Australian Statistician publishes a CPI number for a March quarter in substitution for a CPI number previously published by the Australian Statistician for that quarter, the publication of the later CPI number must be disregarded; and

 (b) if the Australian Statistician changes the reference base for the Consumer Price Index, then, after the change is made, regard must be had only to the CPI numbers published using the new reference base.

 (6) In this section:

CPI number means the All Groups Consumer Price Index number (being the weighted average of the 8 Australian capital cities) published by the Australian Statistician.

earlier CPI number is the CPI number for the March quarter 2 financial years before the relevant financial year begins.

latest CPI number is the CPI number for the last March quarter before the relevant financial year begins.

Part 3—Application, saving and transitional provisions

Division 1—Amendments made by the Treasury Laws Amendment (ASIC Cost Recovery and Fees) Regulations 2019

6  Indexation of fees

  Despite subsection 5(2), the matter mentioned in item 4 of the table in section 4A, as amended by the Treasury Laws Amendment (ASIC Cost Recovery and Fees) Regulations 2019, is not an indexable matter in the financial year starting on 1 July 2019.

Endnotes

Endnote 1—About the endnotes

The endnotes provide information about this compilation and the compiled law.

The following endnotes are included in every compilation:

Endnote 1—About the endnotes

Endnote 2—Abbreviation key

Endnote 3—Legislation history

Endnote 4—Amendment history

Abbreviation key—Endnote 2

The abbreviation key sets out abbreviations that may be used in the endnotes.

Legislation history and amendment history—Endnotes 3 and 4

Amending laws are annotated in the legislation history and amendment history.

The legislation history in endnote 3 provides information about each law that has amended (or will amend) the compiled law. The information includes commencement details for amending laws and details of any application, saving or transitional provisions that are not included in this compilation.

The amendment history in endnote 4 provides information about amendments at the provision (generally section or equivalent) level. It also includes information about any provision of the compiled law that has been repealed in accordance with a provision of the law.

Editorial changes

The Legislation Act 2003 authorises First Parliamentary Counsel to make editorial and presentational changes to a compiled law in preparing a compilation of the law for registration. The changes must not change the effect of the law. Editorial changes take effect from the compilation registration date.

If the compilation includes editorial changes, the endnotes include a brief outline of the changes in general terms. Full details of any changes can be obtained from the Office of Parliamentary Counsel.

Misdescribed amendments

A misdescribed amendment is an amendment that does not accurately describe the amendment to be made. If, despite the misdescription, the amendment can be given effect as intended, the amendment is incorporated into the compiled law and the abbreviation “(md)” added to the details of the amendment included in the amendment history.

If a misdescribed amendment cannot be given effect as intended, the abbreviation “(md not incorp)” is added to the details of the amendment included in the amendment history.

Endnote 2—Abbreviation key

 

ad = added or inserted

o = order(s)

am = amended

Ord = Ordinance

amdt = amendment

orig = original

c = clause(s)

par = paragraph(s)/subparagraph(s)

C[x] = Compilation No. x

    /sub‑subparagraph(s)

Ch = Chapter(s)

pres = present

def = definition(s)

prev = previous

Dict = Dictionary

(prev…) = previously

disallowed = disallowed by Parliament

Pt = Part(s)

Div = Division(s)

r = regulation(s)/rule(s)

ed = editorial change

reloc = relocated

exp = expires/expired or ceases/ceased to have

renum = renumbered

    effect

rep = repealed

F = Federal Register of Legislation

rs = repealed and substituted

gaz = gazette

s = section(s)/subsection(s)

LA = Legislation Act 2003

Sch = Schedule(s)

LIA = Legislative Instruments Act 2003

Sdiv = Subdivision(s)

(md) = misdescribed amendment can be given

SLI = Select Legislative Instrument

    effect

SR = Statutory Rules

(md not incorp) = misdescribed amendment

Sub‑Ch = Sub‑Chapter(s)

    cannot be given effect

SubPt = Subpart(s)

mod = modified/modification

underlining = whole or part not

No. = Number(s)

    commenced or to be commenced

 

Endnote 3—Legislation history

 

Name

Registration

Commencement

Application, saving and transitional provisions

Superannuation Auditor Registration Imposition Regulation 2012 (SLI No. 329, 2012)

11 Dec 2012 (F2012L02405)

31 Jan 2013 (s 2)

 

Treasury Laws Amendment (ASIC Fees) Regulations 2018

29 June 2018 (F2018L00965)

Sch 1 (items 38–42): 4 July 2018 (s 2(1) item 2)

—

Treasury Laws Amendment (ASIC Cost Recovery and Fees) Regulations 2019

25 Mar 2019 (F2019L00390)

Sch 2 (items 15–19): 1 July 2019 (s 2(1) item 4)

—

 

Endnote 4—Amendment history

 

Provision affected

How affected

Part 1...................

 

Part 1 heading.............

ad F2019L00390

s 2.....................

rep LA s 48D

s 3.....................

am F2018L00965

Part 2

 

Part 2 heading.............

ad F2019L00390

s 4.....................

rs F2018L00965

s 4A....................

ad F2018L00965

 

am F2019L00390

s 5.....................

am F2018L00965

Part 3

 

Part 3...................

ad F2019L00390

s 6.....................

ad F2019L00390

 

 

Overview

The Superannuation Auditor Registration Imposition Regulation 2012 was enacted to provide for the regulation of fees payable for the registration of approved self-managed superannuation fund auditors. This legislative instrument was made under the authority of the Superannuation Auditor Registration Imposition Act 2012 by the Parliament of Australia. The primary objective of this regulation is to ensure that the fees charged for the registration of auditors and the inspection of registers are reasonable and proportionate, while also providing sufficient cost recovery to the Australian Securities and Investments Commission (ASIC) for administering the registration process. The regulation sets out the fees for various services related to the registration of approved SMSF auditors and the inspection of registers, as well as the method for calculating fees in subsequent financial years. The regulation was subject to amendments by the Treasury Laws Amendment (ASIC Cost Recovery and Fees) Regulations 2019, which altered the indexation of fees.

Scope and Application

The Superannuation Auditor Registration Imposition Regulation 2012 applies to the registration of approved Self-Managed Superannuation Fund (SMSF) auditors under the Superannuation Auditor Registration Imposition Act 2012. The regulation prescribes fees for various activities related to the registration process, including fees for applying for registration, varying or revoking conditions, and cancelling registration. The fees also cover the costs of undertaking competency examinations and providing statements and particulars to the Regulator. The geographic reach of the Act is nationwide, as it applies to auditors across Australia who are involved in the administration of SMSFs. The fees are set out in detail in the regulation and are subject to indexation in subsequent financial years. The regulation was amended by the Treasury Laws Amendment (ASIC Cost Recovery and Fees) Regulations 2019, which made changes to the indexation of fees for certain items. The regulation does not contain any explicit exclusions or exemptions, and its application is extended or restricted through subordinate instruments as necessary.

Key Provisions

The Superannuation Auditor Registration Imposition Regulation 2012 outlines the fees that must be paid for various services related to the registration and regulation of auditors who audit self-managed superannuation funds (SMSF). Section 4 of the regulation prescribes fees for applying for registration as an approved SMSF auditor, varying or revoking conditions of registration, cancelling registration, and undertaking a competency examination, amongst others. Section 4A details fees for inspecting or searching registers kept by the Regulator. These fees are crucial for the operation of the regulatory framework governing SMSF auditors, ensuring that the necessary resources are allocated for the oversight and administration of these professionals. Entities governed by the Act are required to adhere to the fee schedule outlined in the regulation. For example, an individual or firm applying for registration as an approved SMSF auditor must pay the fee specified in item 1 of section 4, which is $1,927 as per the latest amendment. Similarly, those seeking to inspect or search a register must pay the applicable fees, such as $193 for a historical extract or $195 for a search of an extract given to or issued by the Regulator, as per section 4A. These obligations are designed to ensure that the regulatory activities are adequately funded and that the process for registering and overseeing SMSF auditors is transparent and financially accountable. Failure to comply with the fee requirements stipulated in the regulation can result in various consequences. Although the regulation itself does not explicitly outline criminal or civil penalties for non-compliance, the underlying Act and related legislation may impose sanctions. For instance, under the Superannuation Industry (Supervision) Act 1993, there could be significant penalties for non-compliance with registration and reporting requirements, which are fundamental to the regulatory framework. These penalties can include substantial fines and, in some cases, imprisonment, depending on the severity and intent of the non-compliance. Therefore, entities and individuals must ensure strict adherence to the fee provisions to avoid any legal repercussions.

Legal classification tags

Area of Law
Financial Services Law
Instrument
Regulation
Concepts
Definitions & Interpretation
Regulatory Standards
Offence Provisions
Fees & Charges

Interactions

Authorises

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Sourced from the Federal Register of Legislation at 26 August 2026. For the latest information on Australian Government law please go to https://www.legislation.gov.au.