Australia’s corporate regulator has cancelled the Australian Financial Services (AFS) licence of BDS Accounting Pty Ltd, effective from 28 July 2025, after the firm failed to pay industry funding levies that had been overdue for more than a year.
ASIC said the cancellation followed non‑payment of amounts imposed under the ASIC Supervisory Cost Recovery Levy Act 2017. Under section 915B(3)(e) of the Corporations Act 2001, the regulator may suspend or cancel an AFS licence where a levy — including any late payment or shortfall penalties — remains unpaid at least 12 months after its due date.
BDS Accounting Pty Ltd held AFS licence number 489230 from 5 December 2017. The licence authorised the firm to carry on a financial services business to deal in, and provide financial product advice about, superannuation limited to self‑managed superannuation funds.
With the licence now cancelled, the firm is no longer permitted to provide the licensed services. BDS Accounting Pty Ltd has the right to seek a review of ASIC’s decision by the Administrative Review Tribunal.
