• A reliable time series of economic data about Australia’s fishing and aquaculture industries provided to ensure well informed investment, management and policy decisions by governments, the fishing industry and the public in general.
• Accurate information provided to stakeholders on the value associated with the commercial fisheries and aquaculture sectors.
• Baseline information provided that is fundamental to establishing the importance of individual fisheries and trends within fisheries.
• Accurate information provided to stakeholders on exports and imports of fisheries products.

The Commonwealth Fisheries Harvest Strategy Policy (Harvest Strategy Policy) establishes the requirement for developing a harvest strategy in Commonwealth-managed fisheries. Objectives for fishery harvest strategies are prescribed by the Harvest Strategy  Policy, along with the need for assessment and evaluation of performance against those objectives.

These guidelines aim to provide practical assistance in the development of fishery-specific harvest strategies in Commonwealth-managed fisheries that meet  the intent of the Harvest Strategy Policy. The guidelines provide important contextual information to assist interpretation of the Harvest Strategy Policy and to support harvest strategy development and implementation. While the guidelines have made every attempt to cover the latest scientific and economic thinking, there will likely be technical and scientific advancement relevant to harvest strategies during the lifetime of these guidelines. Such advancements should be monitored for their utility in pursuing the objectives and requirements for harvest strategies in Commonwealth-managed fisheries. Throughout the document, examples are provided to illustrate key points or provide practical examples of how to address specific challenges associated with harvest strategy implementation.

Operating in parallel with the Harvest Strategy Policy is the Commonwealth Fisheries Bycatch Policy (the Bycatch Policy). The Australian Government has also developed Guidelines for the Implementation of the Commonwealth Fisheries Bycatch Policy. These two sets of guidelines are intended to be complementary and provide guidance across the full suite of stocks and species interacted with in Commonwealth-managed fisheries.

Chapter 2 of these guidelines elaborates on principles introduced or articulated in  the policy. These include principles of risk–cost–catch (RCC), the use of indicators, performance measures, reference points and harvest control rules (HCR) in harvest strategies, interpretation of the 90% risk criterion, spatial and temporal management, and application of the Harvest Strategy Policy to jointly managed, shared and international stocks.

Chapter 3 of these guidelines focuses on the key elements of categorisation including how to distinguish key commercial stocks from byproduct stocks.

Chapter 4 expands on the requirements for developing harvest strategies in Commonwealth-managed fisheries, including the legislation and policy requirements, the maximum economic yield (MEY) target, operationalising the MEY objective and maintaining risk equivalency across stocks.

Chapter 5 provides guidance on determining limit reference points, including the policy requirements, proxies and alternatives for limit reference points, indicators, ecological risk assessment (ERA), ecological risk management (ERM) and other controls to manage risk.

Chapter 6 discusses aspects of rebuilding overfished stocks, including selecting rebuilding time frames, performance monitoring, recommencing targeted fishing  and reviewing rebuilding strategies.

Chapter 7 explains concepts of variability, regime shift and climate change and applying these concepts to harvest strategy design.

Chapter 8 provides guidance on performance assessment and reporting, including technical evaluation of harvest strategies, collection and maintenance of records,  the role of fishery management strategies and reporting requirements.

Chapter 9 discusses implementation and review and Chapter 10 provides a number of examples that demonstrate how harvest strategies or elements of harvest strategies may be developed and implemented across different fisheries and stocks.