WELS scheme cost recovery

We have the authority to charge a registration fee for an application to register a WELS product. We use these fees to fund the administration of the WELS scheme. This fee applies to licensed WELS organisations both inside and outside Australia.

The Australian Government Charging Framework outlines how we design, apply and review charging for regulatory activities.

Our Cost Recovery Implementation Statement (CRIS) provides information on how costs are recovered from individuals or organisations for specific WELS scheme activities. The statement gives stakeholders transparency about our costs and becomes a continuous disclosure tool.

Review of the WELS cost recovery arrangement

In 2023, we completed a review of the cost recovery arrangement supporting the WELS scheme. The arrangement had not been reviewed since 2012 and the introduction of the current cost recovery model in 2013. As part of this review, we consulted on:

• the current cost recovery model
• potential alternative cost recovery models
• the cost of administering the scheme
• indexing and the recovery of indirect costs (currently funded by the Australian Government)
• aligning cost recovery to the Australian Government Cost Recovery Guidelines.

The review identified several potential reforms to the WELS cost recovery arrangement, and we will explore these during 2024-25. Section 8 of the 2023-24 WELS scheme CRIS outlines the reform areas we will be exploring. We will continue to engage with stakeholders on any changes to the charging arrangement.

2023-24 WELS scheme CRIS

The 2023-24 CRIS outlines the WELS scheme cost recovery arrangement and compliance with the Australian Government Cost Recovery Guidelines. The statement provides updated financial figures, forecasts and non-financial performance reporting.

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