ob体育 today published its draft聽Cost Recovery Implementation Statement (CRIS) for 2021-22. The draft CRIS outlines ob体育鈥檚 estimated regulatory costs for 2021-22 and how it is proposed these will be recovered as levies under the industry funding model.
The indicative levies are based on our planned regulatory work and associated costs for the 2021鈥�22 financial year.
Final industry levies will be based on ob体育鈥檚 actual regulatory costs and the business metrics submitted by entities in each subsector. Final levies will be published in December 2022 and invoiced between January and March 2023.
Feedback on the draft CRIS can be submitted until 28 June 2022.
Background
ob体育鈥檚 budget is set by the Australian Government. ob体育 is required to detail, in the form of a CRIS, how the cost of ob体育鈥檚 regulatory activities will be recovered from each industry subsector it regulates through industry funding levies and how transaction-based regulatory costs will be recovered via fees for service.
The draft CRIS includes:
- an explanation of the cost recovery model, including the business process, outputs and how we allocate costs to calculate the levies and fees for service
- a forecast of ob体育鈥檚 regulatory costs, with actual levies due to be published in December 2022, and invoices to be issued between January and March 2023
- focus areas of our work in each regulated subsector and estimates of the levies that the subsectors will pay. Indicative levies are a guide only. They are based on our planned regulatory work and estimated levies to recover regulatory costs
- actual costs ob体育 incurred in the previous year for each subsector and the variance between the actual costs and the estimated costs in last year鈥檚 CRIS. Where there is a material variance, the CRIS explains the drivers for the variance.
- an assessment of the risks associated with the industry funding model and how those risks have been managed.
Visit our website to聽find out more about industry funding.