Last week the FSCA published the 2019 levy notice. With compliments of our colleague Paull Lawrence, here are two levy calculators to establish what your obligation will be:
A summary of the updated levies:
Category I or IV FSP
| (a) | A base amount of R3 575; and | (2018: R3 373) |
| (b) | KI/Rep x R570 | (2018: R538) |
Category I or IV FSP (1.1 and/or 1.19 only)
| (a) | A base amount of R3 575; and | (2018: R3 373) |
| (b) | KI/Rep x R250 | (2018: R250) |
Category II, IIA or III FSP
| (a) | A base amount of R7 203; and | (2018: R6 795) |
| (b) | KI/Rep x R570; and | (2018: R538) |
| (c) | IUM x 0.0000184595 | (2018: 0.0000174146) |
Ombud Levy
| (a) | A base amount of R1 105; and | (2018: R1 023) |
| (b) | KI/Rep x R421 | (2018: R390) |
It appears that the increases have mainly stayed in line with inflation, despite substantial changes as a result of the introduction of the FSCA.
Click here to download Notice 384 of 2019
Click here to download the FSCA’s responses to comments received on the Draft board notice * of 2019: levies on financial institutions.
