{"id":414126,"date":"2026-04-23T21:35:22","date_gmt":"2026-04-23T21:35:22","guid":{"rendered":"https:\/\/www.newsbeep.com\/ie\/414126\/"},"modified":"2026-04-23T21:35:22","modified_gmt":"2026-04-23T21:35:22","slug":"adviser-angst-as-cslr-levy-invoices-arrive","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ie\/414126\/","title":{"rendered":"Adviser angst as CSLR levy invoices arrive"},"content":{"rendered":"

Home<\/a> > Financial Planning<\/a> > Adviser angst as CSLR levy invoices arrive<\/p>\n

\"Mike <\/p>\n

Mike Taylor<\/p>\n

Managing Editor and Publisher<\/p>\n

23 April 2026<\/p>\n

\"CSLR<\/p>\n

Financial advisers have begun receiving their Compensation Scheme of Last Resort (CSLR) levy notices from the Australian Securities and Investments Commission (AIC) and are lamenting that $8,000 in 2024-25 turned into over $20,000 covering 2025-26 and 2026-27.<\/p>\n

The full impact of the Government\u2019s approach to the CSLR sub-sector cost over-run on individual advice practices has been laid bare in the levy notices, with advisers sharing with Financial Newswire the gravity of the situation.<\/p>\n

In one case, an adviser pointed to a 136% jump in their levy bill from 2024-25 to the latest levy billing period and said it would have a fundamental impact on his business.<\/p>\n

The levy notice, which has been provided to Financial Newswire, shows an amount in excess of $5,000 for the CSLR Special Levy applying to 2025-26 and an amount in excess of $18,000 for 2026-27 annual levy.<\/p>\n

An adviser told Financial Newswire that while the special levy and the increased annal levy had been well flagged by the CSLR and ASIV, it was nonetheless disheartening and concerning to receive the actual invoice.<\/p>\n

\u201cThe Government simply cannot keep increasing the levy at this rate,\u201d he said. \u201cSmall financial advice firms cannot afford to keep paying these amounts.<\/p>\n

\u201cWe\u2019re effectively being asked to keep subsidising the consequences of large scale failures while trying to stay viable ourselves.\u201d<\/p>\n

The special levy was announced in early December, last year, with the Financial Advice Association of Australia noting that while the Assistant Treasurer and Minister for Financial Services, Daniel Mulino had decided to spread the levy across all 23 retail-facing subsectors financial advisers were lumped with the largest allocation of 22%.<\/p>\n

The FAAA said at the time that the situation was both unfair and unsustainable.<\/p>\n

\u201cThe impact of this allocation basis is an additional $10.4 million levy for financial advisers \u2013 in addition to the $20 million that financial advisers have already paid in CSLR levies this year. This represents the biggest single allocation of the special levy to any sector. In total, financial advisers will pay $30.4 million this year \u2013 45% of the total levy of $67.3 million. Using ASIC\u2019s adviser numbers of 15,041, that\u2019s an extra almost $700 per adviser \u2013 taking the total cost this year to over $2,000 per adviser. This takes no account of the likely substantial decline in adviser numbers at the end of this year,\u201d the FAAA said.<\/p>\n","protected":false},"excerpt":{"rendered":"Home > Financial Planning > Adviser angst as CSLR levy invoices arrive Mike Taylor Managing Editor and Publisher…\n","protected":false},"author":2,"featured_media":414127,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[24057,72,171690,181662,89808,176,3149,61,60,174,175,181663],"class_list":{"0":"post-414126","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-asic","9":"tag-business","10":"tag-cslr","11":"tag-cslr-levy","12":"tag-faaa","13":"tag-finance","14":"tag-financial-planning","15":"tag-ie","16":"tag-ireland","17":"tag-personal-finance","18":"tag-personalfinance","19":"tag-special-levy"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/414126","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=414126"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/414126\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/414127"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=414126"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=414126"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=414126"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}