Document ID: chunk:federal_register_of_legislation:F2018L00039:body:0:p1
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Financial Sector (Collection of Data) (reporting standard) determination No. 1 of 2018

Reporting Standard ARS 760.0 Major Bank Levy Act 2017

Financial Sector (Collection of Data) Act 2001

I, Katrina Ellis, delegate of APRA, under paragraph 13(1)(a) of the Financial Sector (Collection of Data) Act 2001 (the Act) and subsection 33(3) of the Acts Interpretation Act 1901:

    (a)          REVOKE Financial Sector (Collection of Data) (reporting standard) determination No. 13 of 2017, including Reporting Standard ARS 760.0 ATO collection for Major Bank Levy Act 2017 made under that Determination; and

    (b)          DETERMINE Reporting Standard ARS 760.0 ATO collection for Major Bank Levy Act 2017, in the form set out in the Schedule, which applies to the financial sector entities to the extent provided in paragraph 3 of the reporting standard.

Under section 15 of the Act, I DECLARE that the reporting standard shall begin to apply to those financial sector entities, and the revoked reporting standard shall cease to apply, on 12 January 2018.

This instrument commences on 12 January 2018.

Dated: 9 January 2018

[Signed]

Katrina Ellis
General Manager
Data Analytics Division

Interpretation

In this Determination:

APRA means the Australian Prudential Regulation Authority.

financial sector entity has the meaning given in section 5 of the Act.

Schedule

Reporting Standard ARS 760.0 ATO collection for Major Bank Levy Act 2017 comprises the 9 pages commencing on the following page.

Reporting Standard ARS 760.0

ATO collection for Major Bank Levy Act 2017

Objective of this Reporting Standard
This Reporting Standard sets out the requirements for the provision of information to APRA in relation to an authorised deposit-taking institution's levy calculation for the purposes of the Major Bank Levy Act 2017.

It includes Reporting Form ARF 760.0 ATO collection for Major Bank Levy Act 2017 and should be read in conjunction with the Major Bank Levy Act 2017.

Authority

     1. This Reporting Standard is made under section 13 of the Financial Sector (Collection of Data) Act 2001.

Purpose

    2.             Information collected in Reporting Form ARF 760.0 ATO collection for Major Bank Levy Act 2017 (ARF 760.0) is used by the Commissioner of Taxation for the purposes of the Major Bank Levy Act 2017 (the Act).

Application and commencement

    3.             This Reporting Standard applies to an authorised deposit-taking institution (ADI) that has a total liabilities amount that exceeds the levy threshold.

    4.             This Reporting Standard applies for reporting periods ending on or after 30 September 2017.

Information required

    5.             An ADI to which this Reporting Standard applies must provide APRA with the information required by ARF 760.0 for each reporting period on a Licensed ADI basis.

Forms and method of submission

    6.             The information required by this Reporting Standard must be given to APRA