What the 2024 Australian Budget Means for Visa Holders and Working Holiday Makers

So you’re in Australia on a visa. Your next visa is on the back burner for now while you soak up the sun amongst your new life and friends. Then there’s all this buzz about the Australia Government’s Budget and you don’t understand the fuss. Who cares right? You’re not even Australian yet? Why is everyone banging on about it?

The Budget is mostly pretty dull to be honest, and what has been released is just a proposal - it isn’t even really finalised. But it does gives some hints about what is in the mind of the current Government, which includes what they are thinking for the visa program in 2024-2025.

How does the budget affect a visa holder like you? It depends on your visa and what you might have been applying for next. We’ve included some of the major points for skilled workers below.

Temporary Skill Shortage (TSS) Visa – Reduced Work Experience Requirement

Big News for Skilled Workers

  • From 23 November 2024, the work experience requirement for the TSS (subclass 482) visa will drop from two years to one year for all applicants. But remember, you still need to meet the skill level requirements. For instance, if you’re a carpenter without formal qualifications, you’ll still need three years of experience. If you’re qualified, you’ll only need one year of experience.

Permanent Migration Program

More Spots and Longer Planning

  • For 2024–25, the Government is setting the permanent Migration Program at 185,000 places, with 132,200 (around 70%) for the Skill stream.

  • From 2025–26, they’re extending the planning horizon from one year to four years, aiming for a better-managed migration system.

  • Net overseas migration is expected to drop by 110,000 people, from 528,000 in 2022–23 to 260,000 in 2024–25.

New National Innovation Visa

Attracting Top Talent

  • A new National Innovation visa will replace the Global Talent visa from late 2024, aiming to attract exceptionally talented migrants to drive growth in key sectors.

GOODBYE to Business Innovation and Investment Visa Program

  • The Business Innovation and Investment visa program will cease, with application charge refunds available from September 2024 for those wishing to withdraw their applications.

Migration System Reforms

Boosting Support and Integrity

  • The Government is splashing $18.3 million over four years from 2024–25 to reform the migration system, boosting economic prosperity and restoring integrity.

  • This includes $15 million over three years for educational activities to inform migrant workers about workplace safeguards and compliance measures.

  • $1.9 million in 2024–25 will fund a data-matching pilot between the Department of Home Affairs and the Australian Taxation Office to crack down on exploitation and abuse in the labour market.

Deepening Southeast Asia Engagement

Strengthening Ties with the Neighbours

  • The Government is investing $505.9 million over five years to deepen engagement with Southeast Asia, including improving visa access for ASEAN countries and Timor-Leste.

New Work and Holiday Visa Ballot

  • From 2024–25, a pre-application ballot process will be introduced for the Work and Holiday visa program for China, Vietnam, and India, helping to manage demand and processing times.

MATES Program for Indian Nationals

  • From November 2024, the Mobility Arrangement for Talented Early-professionals Scheme (MATES) will allow 3,000 Indian graduates and early career professionals to live and work in Australia for up to two years.

Extended Business Visitor Visa for Indians

  • The validity of the Business Visitor visa for Indian nationals will extend from up to three years to up to five years.

Book a Consultation

These changes are exciting and could really shake things up for your migration plans. While the updates look promising, they're still in the pipeline until officially formalised. If you want to chat about how these changes might affect you, book a consultation with us. Just keep in mind, we can’t give absolute certainty until these changes are set in stone.

***Disclaimer. Please read!!***  

This article is for general information purposes only and should be used solely as general guidance. It does not and is not intended to represent legal advice or other professional advice. 

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