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 Public Governance, Performance and Accountability Act 2013 agencies.
In the 2007-08 Budget, the Government announced that cost recovery principles would be applied to the Personal Property Securities Register (PPSR).
In accordance with the Australian Government Cost Recovery Guidelines, the Australian Financial Security Authority (AFSA) developed a Cost Recovery Implementation Statement (CRIS) to demonstrate the cost recovery model for PPSR activities, to apply from 1 July 2015.
The proposed fees outlined in the CRIS have been approved by the Attorney-General and come into effect on 1 July 2015.
See the current fees.