Budget Update May 2023

[TeeTMI]

Budget 2023-24 - Home Affairs – Immigration Measures

• Migration – raising the Temporary Skilled Migration Income Threshold (TSMIT)
  • The Government will increase the Temporary Skilled Migration Income Threshold from the current rate of $53,900 to $70,000 from 1 July 2023.

• Migration – uplift of Visa Application Charges
  • The Government will increase Visa Application Charges (VACs) from 1 July 2023. In addition to the regular CPI indexation, VACs will increase by 6 percentage points for visa applications, as well as an additional 15 percentage points for select visitor and temporary visa subclasses and an additional 40 percentage points for business innovation and investment visas.
• Migration Program – 2023-24 planning levels
  • For the 2023–24 permanent Migration Program, the Government will return the planning level to the longer-term level of 190,000 places and will allocate 137,100 places (around 70 per cent) to the Skill stream.
• Pathway to Permanent Residency
  • The Government will improve pathways to permanency for Temporary Skill Shortage (TSS) (subclass 482) visa holders. Restrictions will be removed to enable TSS visa holders on the short-term stream access to permanent residence pathways through the Employer Nomination Scheme (subclass 186) visa. The limit of one onshore renewal for the short-term stream TSS visa will also be removed.
• Visa changes for Graduates and Students – increasing visa duration and work hours

https://budget.gov.au/content/bp2/download/bp2_2023-24.pdf