2024/25 Budget – Migration Changes You Should Know

Budget 2024/25 – Migration Changes you should know

The Australian Government announced the Federal Budget for 2024-25 on 14 May 2024. This year, the migration focus is to fill skills shortages in priority sectors such as healthcare and teaching and prioritise the visa processing for regional Australia. Here is the highlight of the major changes: 

The budget confirms that 71% (or 132,200 places) will allocate to skilled migration to improve the productive capacity of Australia economy and fill up the labour market in regional Australia.

The remaining 29% (or 52,500 places) will be allocated to family stream visa, such as child or parent visas which are demand driven and not subject to a ceiling. The Government maintained the number of places allocated to the family stream as a recognition of the immigrant family can contribute to stronger social cohesion outcomes and allows Australians and its permanent residents to reunite with their family members.

Changes in migration planning levels

This year, the migration planning level focus on employer sponsored and regional state/territory sponsored categories.

The increase in Employer Sponsored visas will allow a greater proportion of temporary migrants to secure the permanent residence (PR) status in a timely manner. 

The increase in the State and Territory Nominated and Regional categories reflect the government’s commitment to support the jurisdiction to attract skills migrants to ease the labour shortage issue and drive the economic growth of the regional Australia. 

Here is the breakdown of the migration program planning levels as part of the 2024/25 and 2023/24 Budgets respectively.

Visa StreamVisa Category2024-25
Planning levels
2023-24
Planning levels
 Changes 
(% change)
SkillEmployer Sponsored44,00036,8257,175 (19.5%)
Skilled Independent16,90030,375-13,475 (-44.4%)
Regional33,00032,300700
(2.2%)
State/Territory Nominated33,00030,400 2,600 (8.6%)
Business Innovation & Investment1,0001,900-900 (-47.4%)
Global Talent (Independent)4,0005,000-1000
(-20%)
Distinguished Talent300300
Skill Total132,200137,100-4,900 (-3.57%)
FamilyPartner40,50040,500
Parent8,5008,500
Child13,0003,000
Other Family500500
Family Total52,50052,500
Special Eligibility300400-100 (-25.0%)
Total Migration Program185,000190,000-5,000 (-2.63%)
Table to compare the Migration Planning Level between 2024/25 and 2023/24 program years
Source: Department of Home Affairs

Apart from that, here are some other changes that may impact you in the coming year.

Reduction of number of years of work experience for Temporary Shortage Visa (sc-482)

With effective from 23 November 2024, the work experience requirement for the sc-482 visa will be reduced from 2 years to 1 year.

Introduction of new visa or pathway 

The budget reveals that the Government will implement a new visa called National Innovation (NI) visas in late 2024 to target exceptionally talented migrants – high performing entrepreneurs, major investors and global researchers. This will replace the existing Global Talent (GT) visa(sc-858) and the Business Innovation and Investment (BIIP) visas.

Transition from GT to NI

The Government will manage to transit the GT to NI smoothly. The Department of Home Affairs assures that the existing GT visa applicants will not be adversely affected by the transition. The NI visa granted in 2024/25 will be counted within the GT visa program

Abolished the BIIP visa category

The BIIP will be permanently closed for new applicant from 1 July 2024. Visa application charges will be refunded to those who wish to withdraw their BIIP application starting from September 2024. 

For those sc-188/888 visa applications that have been lodged will continue to be processed in line with Government priorities and the Migration Planning levels. However, we expect it will be a lengthy process as the Government reinterate that it will tighten the processing procedures to ensure all the business migrants coming to Australia through BIIP program have overall had a successful business career and will benfit the economy of Australia.

Mobility Arrangement for Talented Early-professionals Scheme (MATES) 

Starting from late 2024, Indian graduates and early-career professionals under aged 30 can participate in the MATES which allows initiative allows them to live and work in Australia for up to two years in targeted fields of study such as renewable energy, mining, engineering, ICT, etc. Under the pilot stage, there will be 3000 places allocated to this scheme per program year. 

Moving the migration planning model to a multi-year cycle

Looking forward, from 2025-26, the planning cycle will become a multi-year approach as oppose to current 12-month cycle. This will enable a better alignment with longer-term infrastructure, housing and services planning across all levels of government. 

Conclusion

This year, the budget shed the light the Government will reinforce integrity in Australia’s migration migration by transforming existing BIIP and GT schemes into the new NI visas and will reduce the net overseas migration. At the same time, we also see the Government intends to target a mix of high priority fields and areas to ensure the sustainable Australia economy growth.

In the midst of such an uncertainty, we strongly recommended those who intend to migrate to Australia to act quickly, keep abreast with the changes of Australian migration news and engage a registered migration agent (RMA) such as FortuneChance Migration Advisory to manage your case.  An experienced RMA can definitely save you time and money on your migration journey.

FortuneChance Migration Advisory is registered with the Office of the Migration Agents Registration Authority (“OMARA”) in Australia. Unlike some other overseas migration agencies which administrated their cases by non-RMA, all our cases are handled by our migration professionals with OMARA registration.

Based in Brisbane, Australia, we are trusted by many onshore and overseas clients, in particular Hong Kong.  We believe our expertise and knowledge accumulated over the years in Australian migration can cope with and assist you to accomplish your goal of migrating to Australia.  Please contact us using WhatsApp +852 9557 4826 or email to visa@fortunechance.com.au for booking a consultation or inquiry. 

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