Welcome to Our Migration Newsletter!
Stay informed with the latest updates on Australia’s migration policies and programs. This edition covers the key changes for the financial year 2024-2025.
Key Changes to the Migration Program for 2024-2025
The Australian Government has announced the new planning levels for the permanent Migration Program for 2024-2025, maintaining the intake at 185,000 places. This program aims to address skill shortages, support regional development, and strengthen family and community bonds. Here’s a detailed breakdown of the changes:
Skill Stream: Focusing on Economic Growth
Total Places: 132,200 (71% of the program)
Adjustments:
- Employer Sponsored Visas: Increased from 36,825 to 44,000 places. This supports more pathways to permanent residence for temporary migrants through the Temporary Residence Transition Stream.
- State/Territory Nominated and Regional Visas: Each category increased to 33,000 places to meet specific regional labor needs.
- Skilled Independent Visas: Reduced to 16,900 places from 30,375, reflecting a strategic shift to address onshore applicant needs through employer sponsorship.
- Business Innovation and Investment Program (BIIP): Reduced to 1,000 places and set to close permanently from July 2024. A new National Innovation Visa will replace it, focusing on highly-skilled individuals to boost economic growth.
Family Stream: Strengthening Social Cohesion
Total Places: 52,500 (28% of the program)
Highlights:
- Partner Visas: Largest component with 40,500 places, supporting family reunification.
- Child Visas: Maintained at 3,000 places, focusing on reuniting children with Australian parents or family sponsors.
- Parent Visas: Maintained at 8,500 places.
- Other Family Visas: Maintained at 500 places, including Aged Dependent Relative, Remaining Relative, and Carer programs.
Special Eligibility Stream
Total Places: 300
This stream caters to special circumstances, including permanent residents returning to Australia.
Temporary Skilled Migration Income Threshold (TSMIT)
Effective 1 July 2024, the TSMIT will increase from $70,000 to $73,150. New employer nomination applications must meet the new threshold or the annual market salary rate, whichever is higher.
Subclass 482 Visa: Reducing Work Experience Requirement
From 23 November 2024, the work experience requirement for the Temporary Skills Shortage (subclass 482) visa will be reduced from two years to one year. This aligns with the forthcoming introduction of the Critical Skills Shortage visa.
Multi-Year Planning Approach
Starting from the 2025-2026 financial year, Australia will introduce a multi-year migration planning framework. This strategic shift aims to provide better predictability and consistency for migrants and businesses, facilitating long-term planning and integration.
Thank you for staying informed with us. For personalized advice and assistance with your migration applications, consult with our experienced Registered Migration Agents.