On 9 May 2023 the Australian Government announced the Federal Budget for the financial year 2023-2024. There were a number of points that relevant to the Department of Home Affairs portfolio that impact migrants.
Increase in Fees and Charges
- The Visa Application Charges (VACs) will increase between 6% and 40% from 1 July 2023.
- Most VACs will increase by only 6%, however for visitor, working holiday, work and holiday, training, temporary activity and temporary work (short stay specialist) visas the VACs will increase by 15%.
- For business innovation and investment visas, the VACs will increase by 40%.
Increase in Temporary Skilled Migration Income Threshold (TSMIT)
- From 1 July 2023 the TSMIT will increase from the current rate of $53,900 to $70,000.
Temporary Graduate Post Study Rights
- Announcement of the provision for an extra two years of post-study work rights to Temporary Graduate visa holders with select degrees, to improve the pipeline of skilled labour in key sectors.
International students working hour cap
- From 1 July 2023 the cap for international student visa holder working hours will be reinstated, however it will be increased to 48 hours per fortnight.
- International students working in the aged care sector will be exempt from the cap until 31 December 2023.
The Government also announced the Migration Planning Level for 2023-2024 will be 190,000 places, with 137,100 of these to be allocated to the skilled migration stream.
If you want to explore your options for an Australian visa, speak with the immigration experts at KU Legal:
+61 (0) 429 133 911
jb@kulegal.com.au
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