Explanatory Memorandum
(Circulated by authority of the Minister for Industry, the Honourable Ian MacFarlane MP)Regulation impact statement
The Office of Best Practice Regulation has confirmed that the Trade Support Loans proposal does not impose new obligations on business or the not-for-profit sector and that it has a minor regulatory impact for individuals. A full Regulatory Impact Statement is not required.
Regulatory Burden and Cost Offset (RBCO) Estimate Table
The administrative costs included in the table below reflect the cost to Australian Apprentices associated with completing an application form and opting-in for additional payments. It is estimated that it will take (on average) five minutes per year to complete the application form and to opt-in for payments.
This cost to Australian Apprentices will be offset through the introduction of the Australian Apprenticeships Management System which will replace the Training and Youth Internet Management System (TYIMS). The improvements will provide a system that is easier and faster to navigate for system users and allow for greater functionality such as prepopulated forms. This will reduce the time spent by apprentices in filling out all Australian Apprenticeship programme related forms, not just those forms related to the proposed Programme.
Most of the relevant information required for the application and opt-in processes is obtained through the standard Australian Apprenticeship sign-up process. As a result, and as businesses are not required to assist in applying or opting-in, no new obligations are imposed on business as a result of this Programme.
| Average Annual Compliance Costs (from Business as usual) | ||||
| Costs ($m) | Business | Community Organisations | Individuals | Total Cost |
| Total by Sector | ($0.0) | ($0.0) | ($0.269) | ($0.269) |
| Cost offset ($m) | Business | Community Organisations | Individuals | Total by Source |
| Agency | $ | $ | $ | $ |
| Within Portfolio | ($0.0) | ($0.0) | ($0.655) | ($0.655) |
| Outside Portfolio | $ | $ | $ | $ |
| Total by Sector | $ | $ | $ | $ |
| Proposal is cost neutral? yes no | ||||
| Proposal is deregulatory yes no | ||||
| Balance of cost offsets $0.386 | ||||