This article describes the main institutional features of Australia's TVET sector, focussing particularly on the qualifications framework, how it relates to the labour market, and the role of industry. It also looks briefly at two current policy challenges for Australia. Seeking lessons for other countries in the Asia Pacific region, it discusses the importance of context, particularly the size and structure of the economy, and notes that TVET can be judged to be effective as an investment if it leads to employment and better-paying jobs.