This latest update will shed light on the immigration related highlights from the recently announced Federal Budget 2023/24. This budget places continued emphasis on skilled migration, bringing forth several noteworthy announcements under the Department of Home Affairs portfolio. These announcements have important implications for both migrants and employers of visa holders.
Here’s a summary of the main budget highlights:
Migration Planning Levels
- Australia’s permanent migrant intake has been recalibrated to the pre-pandemic planning level of 190,000 places.
- Under this intake, around 70% of the 190,000 placements have been allocated to Skilled Migration.
- This allocation highlights the government’s focus on attracting and retaining highly skilled professionals who contribute to various sectors of the Australian economy.
Extended post-study work rights to select Temporary Graduate visa holders
- Temporary Graduate visa holders with select degrees will be eligible for an extra 2 years of post-study work rights.
- This progressive policy aims to expand the available talent pool within the country and create opportunities for graduates to contribute to various sectors beyond highly skilled positions.
Increase in Department of Home Affairs Fees & Charges
- From 1 July 2023, Visa Application Charges (VAC) are set to increase by 6%, as well as an additional 15% for select visitor and temporary visa subclasses and an additional 40% for business innovation and investment visas
- If planning to lodge a visa application, we would recommend doing so before 1 July 2023.
Increase the Temporary Skilled Migration Income Threshold (TSMIT)
- From 1 July 2023, a significant update to the TSMIT is set to take effect
- The TSMIT, which serves as a benchmark for ensuring that temporary skilled visa holders receive appropriate income levels, will see an increase from the current threshold of $53,900 to $70,000.
Student visa holders in Aged Care are exempt from the capped fortnightly work limit
- In addition to the recent Aged Care Labour Agreement, student visa holders already employed in the Aged Care sector will be exempt from the capped fortnightly work limit until 31 December 2023.
- This measure aims to address workforce shortages and enhance the quality of care for our elderly population
Additional training places for Pacific Australian Labour Mobility scheme workers in priority sectors
- As part of Australia’s ongoing commitment to the Pacific region and Timor-Leste, additional training places will be created specifically for scheme workers
- These training opportunities will be focused on priority sectors both in the Pacific and Timor-Leste, as well as in Australia where job shortages exist.
Fast-tracked skills assessments
- The Government has undertaken a re-scoping of two Skills Assessment Pilots to provide onshore migrants with fast-tracked skills assessments, free employability assessments, and access to further training to improve their employment prospects.
Additional enforcement and compliance
- In a commitment to upholding the integrity of Australia’s migration system, the Government has allocated a substantial budget of $50 million over four years, starting from 2023/24.
- This allocation, coupled with ongoing funding of $15.3 million per year, signifies the Government’s dedication to strengthening enforcement and compliance activities to safeguard the migration system
Changes to TSS (subclass 482) visa access to permanent residency
- Restrictions will be removed to enable subclass 482 visa holders in short-term occupations access to permanent residency through the subclass 186 visa program
- The limit of the once onshore renewal for short-term occupations is also removed
Changes to the migration program can occur without notice. The above information is not intended to be legal advice and is correct as of the date of writing this article.
Contact Migrations Affairs to speak with our immigration experts for tailored advice on the circumstances and eligibility.
