What this class covers
ANZSIC class 6230 covers businesses that provide financing services without accepting deposits from the public. These entities operate outside the traditional banking system but still extend credit, make loans, or provide leasing services. Unlike banks and credit unions, non-depository financiers raise funds through alternative means such as investors, capital markets, or wholesale funding arrangements.
This classification applies to businesses that primarily engage in lending activities without maintaining deposit accounts for customers. Typical operations include providing personal loans, business financing, equipment leasing, and credit card services where the institution doesn't hold customer deposits. The key distinction is that these businesses don't create deposit liabilities on their balance sheets.
Examples of businesses in this class include standalone credit card companies that issue cards without offering deposit accounts, non-bank mortgage lenders that provide home loans without banking services, and equipment leasing companies that finance assets without handling the physical goods. Co-operative housing societies that provide member financing without deposit-taking activities also fall under this classification, excluding those operating solely as management services on a commission basis.
Primary activities in plain English
Businesses in this class typically engage in one or more of the following activities:
- Operating co-operative housing societies that provide financing to members (excluding management services performed for fees)
- Issuing credit cards without offering associated deposit accounts
- Providing various types of loans without accepting customer deposits
- Offering home lending services without operating as a deposit-taking institution
- Engaging in money lending activities through non-depository models
These activities share the common characteristic of providing credit or financing services while not being authorized to accept deposits from the public like traditional banks or credit unions.
Exclusions and nearby codes
Certain financial activities are specifically excluded from ANZSIC 6230 and classified elsewhere:
Deposit-taking financial operations, including banks, building societies, and credit unions that accept customer deposits, are classified under Group 622 Depository Financial Intermediation. This distinction separates traditional banking from non-depository lending.
Financial asset investment consultancy services and co-operative housing society management services provided on a commission or fee basis fall under Class 6419 Other Auxiliary Finance and Investment Services. This exclusion ensures that advisory and management services are separated from direct financing activities.
Practical guidance
When registering your business with the Australian Business Register (ABR), you'll need to select appropriate ANZSIC codes that accurately describe your activities. For non-depository financing operations, Class 6230 would typically be your primary classification if lending without deposits is your main business activity.
The Australian Taxation Office uses ANZSIC codes for statistical purposes and may apply them in certain compliance contexts. When filing Business Activity Statements (BAS) and tax returns, ensure your reported activities align with your registered ANZSIC classification.
For workers' compensation insurance, each Australian state and territory uses slightly different classification systems that may map to ANZSIC codes. Check with your local WorkCover authority for the specific classifications that apply to your workforce.
Some government grants and industry assistance programs may reference ANZSIC classifications for eligibility criteria. Always verify program requirements directly with the administering agency, as classifications can change and exceptions may apply.