VET News

Introducing Copyright Agency’s new rate card for private education providers

Copyright Agency has completed an extensive and thorough review of the rates charged to the independent education sector (including VET providers), and we are pleased to unveil our new Statutory Education Licence rate card, designed in consultation with industry.

The review included consideration of customer feedback, analysis of comparable market offerings and assessment of the current sector and how we can best meet its needs. Additionally, we consulted with key industry peak organisations IHEA, ITECA and English Australia to gain their valuable insights.

The changes to the rate card consist of:

• The introduction of a reduced EFTSL rate of $45 for commercial higher education providers
• A 16.7% reduction to the percentage of gross receipts payable for all commercial educational institutions (a reduction from 0.3% to 0.25%)
• A reduced EFTSL rate of $40.50 for non-commercial higher education providers (which is a 10% reduction from the rate that applies to commercial higher education providers)
• A 20% reduction on all rates for all other non-commercial educational institutions
• All private education provider ‘minimum fees’ being frozen with no CPI added in 2024

Additionally, all commercial higher education providers will have the flexibility to choose between the EFTSL fee or % of gross receipts as part of their annual fee declaration.

The changes will take effect from 1 January 2024 and will be implemented for existing licensees as part of the 2024 Licence Update process.

From January, private education providers will be able to enjoy the benefits of cost savings and increased flexibility without compromising on licence coverage – allowing your institution to invest more in educational excellence.

Download the 2024 rate card here

Not currently licensed? Learn more about how the Statutory Education Licence can help your RTO here

Date posted Dec 21, 2023