What Has Been Published
The Federal Register has published the Corporations (Financial Services Compensation Scheme of Last Resort - Special Levy) Determination 2026, which is now in force.
This rule sets a special levy for the 2026-27 levy period under the Compensation Scheme of Last Resort. The scheme funds compensation payouts to consumers who were wronged by financial firms that have since collapsed or cannot pay.
How the Levy Applies
The levy is imposed on sub-sectors of the financial services industry. The document sets out total amounts for each sub-sector along with a combined total.
The source text provided does not give the actual dollar figures for the levy amounts, which sub-sectors are affected, or who specifically must pay.
Key Actions
- Businesses operating in financial services, financial advice, mortgage broking, or insurance broking can check the full legislation text at the source URL to see if their sub-sector is named and what levy amount applies.
- Businesses can speak to their industry association or compliance adviser about whether this special levy applies to their business for the 2026-27 period.
- Businesses can check with their accountant or bookkeeper about how any levy liability should be budgeted for and reported.
This is a plain-English summary for information only, not legal or compliance advice. Always check the official source or consult a qualified professional.