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Time to act! ASIC Licensing fees increasing from July 1

NewsLiam Brown

Time to act! ASIC Licensing fees increasing from July 1

Did you know that as part of the new fee regime, the cost to submit a credit application will be increasing significantly from July 1?

 

Currently, the cost of applying for an Australian Credit License with ASIC is $523 for individuals, and $1160 for organisations. These amounts will increase radically from July first, up to a maximum of $4624 for an organisation applying for a lending license.

 

The fee increases as they are currently proposed are as follows:

 

Previous

Proposed from 1 July 2018

Individual Application $523.00 (previously known as "Sole Trader"

Individual Credit Assistance $1798.00

 

Individual Credit Provider $3468.00

 

Other Than Individual Application $1160.00 (previously known as "Company"

Other Than Individual Credit Assistance $2055.00

 

Other Than Individual Credit Provider   $4624.00

 

These amounts are subject to passage through parliament, however it is extremely unlikely that they will vary significantly from this amount. The important thing to keep in mind is that these amounts are increasing - if you were on the fence about getting your own license, holding off taking action IS GOING TO COST YOU MORE.

If you have found this page, by now you are probably well aware that QED is your absolute best option for obtaining a credit license - we submit more applications than anyone else, and as long as we know everything about our client we've never failed to obtain a credit license.

For more information, give the team a call for a quick, obligation free chat on 1300 817 662, option 2.

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