The Insolvency and Trustee Service Australia (ITSA) - the organisation that operates the PPSR - has recently issued a Cost Recovery Impact Statement (CRIS).
While the purpose of the CRIS is to demonstrate how ITSA recovers its PPSR related costs it also includes a proposal for increases to its fee structure for those registering and searching on the Register.
ITSA has undertaken a review of its PPSR operations in the first 12 months, including a comparison of estimated transactions volumes and revenue. Revenue in the current financial year is tracking approximately 4% below the initial forecast, due to the mix of transactions being more weighted to the lower end of the spectrum than expected.
The proposed fee structure reflects price increases across each category. Search fees are proposed to increase by $0.30 per transaction and registrations ranging from $0.60 (for the highest volume category) to $10.00.
Thus:
| Duration | Current Charge | Proposed Charge |
| Up to 7 years | $7.40 | $8.00 |
| 7 to 25 years | $37.00 | $40.00 |
| No stated end date | $130.00 | $140.00 |
| Minor amendments | $3.70 | $4.00 |
| Other amendments | As per registration charges | |
| Searching the Register | $3.70 | $4.00 |
Due to very low demand and the availability of alternative options, the ITSA National Service Centre will no longer be offering services for registrations and amending finance statements. Apparently, out of a total of 1,466,308 registrations in the first year of operations, only 21 were lodged through the National Service Centre.
The new charges are scheduled to be introduced for the 2013/14 financial year.
