CSLR levy estimate rises by $60.7m

FAAA Urges Government to Limit CSLR Costs to $20m

The FAAA has renewed its call for urgent reform of the Compensation Scheme of Last Resort (CSLR). It said the financial advice profession cannot continue to absorb escalating costs after being hit with another $190 million special levy for the 2026-27 year – a figure far in excess of the sector’s $20m cap. Phil Anderson, […]

CSLR levy surge demands urgent reform to fix unfair funding burden

CSLR levy surge demands urgent reform to fix unfair funding burden The revised estimate for the FY2027 CSLR levy period released today plainly underscores the urgent need to address the […] The post CSLR levy surge demands urgent reform to fix unfair funding burden appeared first on SMSF Association.

Advisers to cop additional $190m CSLR levy

The Compensation Scheme of Last Resort (CSLR) has increased the estimated FY27 levy to be paid by all financial services sub sectors to $198.1 million, a $60.7 million increase from its initial estimate announced in November 2025. The latest update expects to conclude the final cohort of claims related to Dixon Advisory, while including the first tranche of some 474 claims from the collapses of Shield and First Guardian Master Funds. These claim…

CSLR levy estimate rises by $60.7m

Financial advisers appear to be facing another special levy hit because of the funding mechanism for the Compensation Scheme of Last Resort (CSLR) with the scheme announcing a $60.7 million increase in its Financial Year 2027 levy estimate. The CSLR says it will be seeking another special levy with respect to the Personal Financial Advice sub-sector. The CSLR today said that the its actuarial consultants had revised the levy estimate upwards fro…