Australian Federal Budget 2024 – Updates on migration program
The Australian government has introduced the 2024-25 Federal Budget. This shows its commitment to the migration framework that will Strengthen the economy and address critical skill shortages. Here are five key updates on migration.
1-Permanent Migration Program
The government plans to allow 185,000 people to migrate to Australia in 2024-25, focusing mainly on those with specific skills. The government will allocate approximately 70% of the available spots, equating to 132,200 places, to skilled migrants. The planning for the permanent migration program will extend from one year to four years, starting from 2025-26. The longer-term approach focuses on providing better stability and safety for applicants and businesses, ensuring a stress-free application process.
2- Migration System Reforms
The government has allocated $18.3 million over the next four years starting from 2024-25 to drive additional enhancements to Australia’s migration framework. Government spending includes:
- Information and education initiatives – The migration system will use $15.0 over three years to create programs that educate migrant workers on workplace safety protocols, legal protections, and Australian immigration regulations.
- Data matching Pilot program – Allocating $1.9 million for the 2024-25 financial year to facilitate a data matching Pilot program between the Department of Home Affairs and the Australian Taxation Office aimed at addressing the exploitation of migrant workers and safeguarding the integrity of Australia’s labour market and migration framework.
3-Mates Program for Indian nationals
Now the Migration and Temporary Employment Scheme (MATES) offers new opportunities for 3000 Indian graduates and early career professionals (aged 18 to 30 at the time of application) to live and work in Australia for up to two years. Also, the authorities have extended the validity of the visitor visa (subclass 600 Business Visitor stream) for Indian nationals from three to four years. This initiative strengthens the bond between Australia and India, aiming to attract young professionals with valuable skills and expertise.
4-Temporary skills shortage visa (subclass 482)
From November 2024, all applicants for a temporary skills shortage visa ( subclass 482) will only require one year of work experience instead of two. This initiative aims to raise the number of applications and make the process more straightforward for skilled workers with the necessary skills and capabilities to contribute to Australia’s growth. Starting in 2024-25, Australia expects to significantly increase the influx of skilled workers over the following four years.
5-National Innovation Visa
At the end of 2024, the government will introduce an updated innovation visa program. This new visa program is to replace the existing business innovation visa and investment visa programs, mainly focusing on highly skilled migrants who can contribute their skills to help growth in critical sectors of national importance.
- This visa is for highly skilled and expert migrants who can help to grow and develop important sectors of Australia.
- Starting September 2024 applicants who pull back their BIIP application will be eligible for a refund.
The national innovation visa shows Australia’s dedication to economic growth and development through targeted migration. It makes sure that Australia will attract and retain the best global talent to maintain its competitive edge.
Conclusion
The Federal Budget for 2024-2025 updates the Australian migration policy. This program provided a more focused approach to Skilled migration, innovative Visa programs, and better stability and protection of migrant workers. These changes reflect the long-term goal of the country to create a prosperous and sustainable future for the nation. Australia will continue to be a top destination for talent and innovation from around the world.
For those looking to navigate these migration updates, Australia immigration consultants are valuable resource.