Major Overhaul of Australia’s skilled migration program announced
27 April 2023
BREAKING NEWS: Major Overhaul of Australia's Skilled Migration Program Announced
Home Affairs Minister Clare O'Neil has unveiled a significant reform to the Skilled Migration Program during her address at the National Press Club today. The proposed changes aim to create a more strategic program, making Australia attractive to international talent and improving the system for businesses in need of skilled workers.
Key Takeaways:
🔶TSMIT Increase: From 1 July 2023, the Temporary Skilled Migration Income Threshold (TSMIT) will increase from $53,900 to $70,000, affecting all future Employer Sponsored Visa Applicants.
🔶 Permanent Residency Pathway: By the end of 2023, all Temporary Skill Shortage (TSS) short-stream visa holders will have access to a permanent residency pathway within the existing capped permanent residency program.
🔶Visa System Simplification: The number of visa categories will be reduced, with three main streams for skilled visas - specialized highly skilled, mainstream skilled, and essential skills. This reform aims to provide a smooth entrance for highly paid and skilled workers, boosts the income threshold for temporary migrants, and brings unions, businesses and the Government together to work out how to feed low-paid sectors such as aged-care, which cannot be filled through local recruitment.
🔶Occupation List and Skills Recognition Reforms: Changes to the skilled points test for skilled permanent residency visas and a newly designed Global Talent visa program.
🔶 Student Visa Program: Tightening requirements to improve integrity while attracting bright students to study in Australia, providing international students access to longer-term residency options in certain areas.
🔶Business Innovation and Investment Visa Program: The program will be restructured to better bring capital and entrepreneurship to Australia.
The Government is set to release its expert report and a draft outline of its New Migration System Strategy. We will closely examine the details and provide further updates as they become available.
Today's address was meant to be an overview of the key strategic directions, with more details to be revealed in subsequent announcements. Stay tuned for more information on this substantial reform in the coming months, and feel free to contact us to discuss how these changes may impact your business.