In accordance with the Australian Government Cost Recovery Guidelines, AFSA has developed a Cost Recovery Implementation Statement (CRIS) to commence from 1 July 2015, to demonstrate the cost recovery model for insolvency activities.
The fees and charges outlined in the CRIS were approved by the Attorney-General and came into effect on 1 July 2015.
View the statement:
In December 2002, the Australian Government adopted a formal cost recovery policy to improve the consistency, transparency and accountability of Commonwealth cost recovery arrangements and promote the efficient allocation of resources.
Cost recovery broadly encompasses fees and charges related to the provision of government goods and services (including regulation) to the private and other non-government sectors of the economy.
The policy applies to all agencies covered by the Public Governance, Performance and Accountability Act 2013 (PGPA Act).
AFSA has legal authority through the Bankruptcy Act 1966 and associated Acts to impose fees and charges and policy authority to cost recover its activities. AFSA also has legal authority to recover its costs, charges and expenses incurred in connection with the Official Trustee’s performance or duties under the Proceeds of Crime Act 1987 and the Proceeds of Crime Act 2002.
Previous versions of AFSA’s Cost Recovery Implementation Statements are available on the Cost Recovery Policy webpage.
Please refer to the fees and charges section for details on AFSA’s current insolvency fees and charges.