Upcoming immigration changes you need to know for FY 2023-2024 (Part 1)
Highlights
For the financial year 2023-2024, there will be changes to visas and opportunities based on a review of Australia's migration system and the government's federal budget.
Income threshold increase
Effective from 1st July, the minimum salary required for an applicant to be sponsored by an employer has been raised. The Temporary Skilled Migration Income Threshold (TSMIT), which has remained unchanged at $53,000 for a decade, will now be increased to $70,000. The government has announced that the increase in income threshold is part of a larger migration strategy to ensure that the program serves its purpose.
PR pathway for skilled temporary workers
By the end of the year, the government has committed to offering all skilled temporary workers the chance to apply for permanent residency. The upcoming change means a group of temporary workers who have been denied even the opportunity to apply for permanent residency will be able to do so.
Three tiers migration system
The Labor Party calls for a complete and extensive reform of the immigration system. This means that the administration plans to simplify Australia's migration system significantly by implementing a three-tiered evaluation process aimed at reducing bureaucracy and speeding up the permanent residency application process.
First tier (a 'light touch' tier)
This new streamlined lane will be introduced for high-earning workers, to reduce wait times for highly-skilled worker visas and address Australia's skills shortages.
Second tier (a mainstream skilled pathway)
This tier will focus on middle-income earners, as they are likely to be most affected by the new salary threshold.
Third tier (for essential industries)
This tier is for low-earning migrants, which could have big implications for under-pressure sectors such as aged care.
How to take advantage of the upcoming changes
Australia's migration system is set to undergo some significant changes in 2023, and it is important to understand how you can take advantage of these changes.
Stay informed
Keep up to date with the latest news and updates on Australia's migration system, including changes to visa requirements, new visa streams, and other developments that could affect your application.
Look for opportunities
Take advantage of the new visa streams that are being introduced, such as the streamlined lane for high-earning workers or the pathway to permanent residency for skilled temporary workers. These changes could provide you with more opportunities to migrate to Australia.
Prepare your application carefully
Take the time to prepare your application thoroughly, by providing all necessary supporting documentation. This will increase your chances of success and reduce the risk of delays or rejections.
Seek professional advice
Consider seeking the assistance of a registered migration agent or immigration lawyer who can provide you with expert guidance on the best pathway for your circumstances.
