Financial Reporting Act 2013

Miscellaneous provisions - Regulations and levies

51: Levies

You could also call this:

"Charges that certain groups, like accountants and companies, must pay to the government"

Illustration for Financial Reporting Act 2013

You have to pay a levy if you are in a certain group of people. The government decides who has to pay and how much they have to pay through regulations made under section 52. You pay the levy to the government or to someone who acts on behalf of the government.

If you are in more than one group, you have to pay a levy for each group, unless the regulations say you do not have to. The groups of people who have to pay a levy include accountants, auditors, and companies. These groups are defined in the law and include people like qualified statutory accountants, licensed auditors, and registered audit firms.

You are also considered a specified person if you apply for a licence or registration under the Auditor Regulation Act 2011, or if you are the Auditor-General. Other groups include FMC reporting entities, climate reporting entities, and public entities, as defined in section 5(1) of the Public Audit Act 2001. Additionally, members of certain accounting associations and people registered under specific Acts, such as the Building Societies Act 1965, Companies Act 1993, and Co-operative Companies Act 1996, are also considered specified persons.

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This page was last updated on 3 October 2025

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM4632971.

Topics:

Money and consumer rights > Taxes

50: Regulations, or

"Rules made by the Governor-General to help with financial reporting"

52: Levy regulations, or

"Rules about charging levies to help cover costs"

Part 3Miscellaneous provisions
Regulations and levies

51Levies

Every person that is included in a prescribed class of specified persons must pay to the Crown, or to a prescribed person who acts on behalf of the Crown, a levy prescribed by regulations made under section 52.
If a person is in 2 or more classes of specified persons in respect of which different levies have been prescribed, the person must pay each of those levies (unless the regulations provide otherwise).
In this subpart, specified persons means—
qualified statutory accountants; and
licensed auditors; and
registered audit firms; and
every person who applies for a licence or registration under the Auditor Regulation Act 2011; and
the Auditor-General; and
FMC reporting entities and other entities whose financial statements or group financial statements are required to be registered or lodged under any enactment; and
climate reporting entities; and
every person who is a member, a fellow, or an associate of an association of accountants that is specified in the regulations and that is in the business of offering accounting or auditing services to the public in New Zealand, or who applies to become such a member, fellow, or associate; and
public entities (within the meaning of section 5(1) of the Public Audit Act 2001); and
every other person that is registered or incorporated, or who makes an application for registration or incorporation of a person, under any of the following Acts:

Compare

1993 No 106 s 42C(1), (2), (7)

Notes

Section 51(3)(a): replaced, on 1 July 2015, by section 14 of the Financial Reporting Amendment Act 2014 (2014 No 64).
Section 51(3)(fa): inserted, on 28 October 2021, by section 46 of the Financial Sector (Climate-related Disclosures and Other Matters) Amendment Act 2021 (2021 No 39).