The Australian Government has handed down its 2024-2025 budget. Our Managing Director and Principal Migration Agent, Julie Williams, breaks down what the latest updates could mean for you.
The Albanese Government has handed down its 2024-2025 budget with the net immigration to be halved with a forecast of 260,000 in next financial year compared to an expected number of 375,00 for this current financial year.
The Government has set the 2024-25 permanent Migration Program planning level at 185,000 places and allocating 132,200 places (around 70 per cent) to the Skill Stream categories.
From 2025-26, the Government will extend the planning horizon for the permanent Migration Program from one year to four years. This is in line with their migration strategy in delivering a better managed migration program.
The following announcements were made in relation to the migration portfolio:
Changes to the Subclass 482 TSS Visa
- From 23 November 2024, the Government will reduce the work experience requirement for the 482 visa from two years to one year for all applicants.
Resources for Visa Processing
- Increased staffing levels and resources to reduce the backlogs to improve visa processing capabilities and decrease wait times.
Focus on Employer-Sponsored Activity
- Government will provide $1 billion over 5 years from 2023-24 to establish and support the sustainable operation of the new Administrative Review Tribunal (ART), replacing the Administrative Appeals Tribunal (AAT) and to address court backlogs associated with high numbers of applications for judicial review of migration decisions.
- Government will provide $100 million in 2024-25 to the Department of Home Affairs to support the performance of core functions including Australian Border Force operations, immigration compliance activities and sustainment of critical systems supporting those operations and services.
- $1.9 million to conduct a data-matching pilot between the Department of Home Affairs and the Australian Tax Office of income and employment data to investigate underpayment and exploitation of migrant workers.
This shows the Government’s continued commitment to reform Australia’s migration system to drive economic prosperity and restore its integrity, including expanded use of data-matching.
National Innovation Visa Replacing Current Global Talent
- From late 2024, the government will implement a new National Innovation Visa, replacing the current Global Talent Visa (Subclass 858) to target exceptionally talented migrants who will drive growth in sectors of national importance.
- From September 2024, and as forecast by the government, the Business Innovation & Investment Visa Program (BIIP) will cease.
Introduction of a Ballot Process
- The Government will introduce a visa pre-application (ballot) process for the Work and Holiday (Subclass 462) visa program for those from China, Vietnam and India to better manage the program demand and application processing times for these countries.
Extending the Validity of Business Visitor Visas for Indian Nationals
- The validity of the Subclass 600 Business Visitor stream for Indian nationals will increase from three years to up to five years.
Mobility Arrangement for Talented Early-Professionals Scheme
- The Government will implement a new Mobility Arrangement for Talented Professionals Scheme (MATES) Program for Indian nationals from 1 November 2024. MATES will provide a new mobility pathway for 3,000 Indian graduates and early career professionals (aged 18 to 30 years at time of application with knowledge and skills in targeted fields of study to live and work in Australia for up to two years.
International Students
- Regulations to be developed and implemented by the Department of Education to require universities to establish new supplies of purpose-built student accommodation to support any increase in international student enrolments over an initial international student allocation, to be set in consultation with the sector. The accommodation would be available to both domestic and international students.
It’s definitely going to be a busy few months from now through to the end of the year. Migration Downunder will continue to keep our clients updated and informed on changes that may impact you.
If you’re not a current client and would like to understand how these changes may impact your migration plans for 2024-2025, please book a consultation with one of our experienced Migration Agents.
Source of Information – Department of Home Affairs & Migration Institute of Australia