The New Budget and What it Means For You!
As many of you are aware of, the Department of Immigration have made quite a lot of changes over the past few months including – visa application requirements, application prices, training benchmark requirements and more.
Below we have listed some of the changes and some information we are currently aware of.
Changes to Visa Application Fees
From July 1st, 2017 Immigration will be slightly increasing their visa fees. A Visitor Visa will now cost AUD $140, A 457 visa will cost AUD $1,080 for a single applicant, TSS Visa (Temporary Skills Shortage Visa) will cost anywhere between AUD $1,150 to AUD $2,400 depending on the stream being applied for. For a full price list click the link below.
Changes to Training Benchmarks A & B
From March 1st, 2018 the training benchmarks will be changing for the new TSS visas. These levy’s will replace the traditional Training Benchmark A and B as we now know it. Businesses with a turnover of less that AUD $10 million a year that employ foreign workers on a 457 visa will be required to make an upfront payment of AUD $1,200 annually, Subclass 186 and 187 visas will require a AUD $3,000 one-of payment. Businesses that make over AUD $10 million annually the levy is AUD $1,800 per annum for 457 visa holders and subclass 186 and 187 will require an one-off payment of AUD $5,000.
Changes to Foreign Investors
Foreign investment applicants should be aware of the following changes announced in the 2017-2018 budget.
- The introduction of an annual vacancy charge on foreign owners of residential real estate
- The introduction of a 50% cap on the total amount of dwellings a developer can sell to foreign persons under a New Dwelling Exemption Certificate. This will be applied as a condition on applications submitted after the effective date.