Secondary

Levies.1

Levies on financial institutions – Calculators to assist

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:

FSP levy calculator

Sole Prop levies

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.

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