IMMIGRATION UPDATES : Exploring the Changes Since 1st July 2023
Greetings everyone! We hope you had a fantastic start to July 2023.
As promised, we are here to bring you the latest updates on what has changed since 1st July 2023. Buckle up, because we have some interesting news to share with you!
- TSMIT Increase to $70,000: One of the significant changes that came into effect on 1st July is the increase in the Temporary Skilled Migration Income Threshold (TSMIT) to $70,000. This adjustment reflects the evolving economic landscape and ensures that skilled workers are fairly compensated for their contributions to the Australian workforce.
- Additional Opportunities for Graduates: The Australian government has introduced new legislation offering certain graduates the opportunity to apply for an additional 485 visa with nil Visa Application Charge (VAC). This exciting development aims to support graduates in specific fields of study that are in high demand. Let’s take a closer look at what this means.
The Additional 485 Visa and Extended Stay Provisions:
Under the new extended stay policy, graduates from specified qualifications in medicine, health care, engineering, and information technology are eligible for an extended stay in Australia. This provision will be reviewed annually to ensure the relevance and demand for these qualifications. Here are the key details:
Applicants must have graduated from an Australian higher education provider and hold select qualifications that fall within the specified fields.
b. Duration of Extended Stay:
• Select Bachelors degrees: Extended from two years to four years.
• Select Masters degrees: Extended from three years to five years.
• All Doctoral degrees: Extended from four years to six years.
c. Calculation of the Extended Stay:
The two-year period will be calculated from the date that the visa held at the time of application was originally scheduled to cease. This means that eligible applicants can now enjoy an extended stay in Australia, providing them with ample time to gain valuable experience and contribute to their respective fields.
d. Extensive Range of Qualifications:
To support a diverse range of disciplines, the Australian government has identified 3,264 specified qualifications across various universities that are eligible for the extended stay provisions. This ensures that deserving graduates from different academic backgrounds have the opportunity to pursue their professional goals in Australia.
The changes that took effect on 1st July 2023 have ushered in a new era of opportunities for skilled workers and graduates in Australia. Whilst the increase in TSMIT has been received with mixed feelings from the SME business community, it does reflect the new government’s commitment to fair compensation and it is acknowledged that the introduction of extended stay provisions provides a valuable chance for select graduates to excel in their respective fields.
As these changes continue to shape the Australian landscape, we look forward to witnessing the positive impact they will have on the lives of individuals and the nation as a whole.
Remember, these updates are just the tip of the iceberg, and we encourage you to stay informed about any further developments in immigration policies and regulations.
Stay tuned for more updates, as they become available.