From 2024 the championship is contested by drivers of cars complying with Australia's premier open-wheeler racing category as determined by the Australian Auto Sport Alliance.
This new focus aims at making the championship more accessible and competitive by substantially reducing costs thereby allowing financially challenged drivers the opportunity to demonstrate their driving skills.
While the age of the 'Australian special', handbuilt racecars developed by local mechanic/engineers away from the European/American manufacturers that had dominated pre-World War II racing, was not yet dead, most notably the series of Maybach specials were still competitive as second-hand Formula 1 and Formula 2 cars from Europe became increasingly popular with competitors, with the Maserati 250F finding a few homes in the top echelon of drivers.
The rise of Cooper in Europe, led by Jack Brabham, Bruce McLaren and the rest of the Australian/New Zealand invasion that flooded into Formula 1 in the 1960s, saw a trickle down effect increase as the smaller cheaper rear-engined packages proved quickly popular amongst competitors.
This led to the development of the Tasman Series regulations and a flood of Coopers and Brabhams into Australian racing, as well as encouraging the rise of domestic manufacturers like Elfin Sports Cars.