BREAKING NEWS: AUSTRALIAN BUDGET ANNOUNCEMENT 2020-21
- Border restrictions expected to be in place until second half of 2021.
- Overall migration numbers staying the same for 2020-2021.
- Priority for Employer Sponsored, Global Talent, Business visa.
- There is going to be more push for Hong Kong applicants.
- Places for the BIIP program will be increased to 13,500.
- Changes will likely be implemented to the business program in July 2021.
HIGHLIGHTS OF THE ANNOUNCEMENT
- The Government will maintain the 2020-21 Migration Program planning level at 160,000.
- Family Stream places will increase from 47,732 to 77,300 places on a one-off basis for the 2020-21 Migration Program.
- Employer Sponsored, Global Talent, Business Innovation and Investment Program visas will be prioritised within the Skilled Stream.
- Onshore visa applicants and Partner visa applicants where the relevant sponsor resides in a designated regional area will also be prioritised for the 2020-21 Migration Program.
- Australian graduates are expected to face bigger challenges in securing the PR pathway. The parents would need to explore alternative program such as business and investment pathway to secure their children’s residency in Australia.
UPCOMING CHANGES IN 2021
- Business, Investment and Innovation Program
- The Government will introduce changes to improve the quality of investments and applicants.
- The program will focus on higher value investors, business owners and entrepreneurs and improve the economic outcomes of the BIIP.
- Visa application charges for BIIP visas will also be increased by an additional 11.3% (above regular CPI indexation) on 1 July 2021.
- Global Business and Talent Attraction Taskforce
- A new whole-of-government Global Business and Talent Attraction Taskforce will be established to attract international businesses and exceptional talent to Australia, to support the post- COVID recovery and boost local jobs.
- This initiative builds on the existing Global Talent Initiative and Business Innovation and Investment Program and the new initiative announced by the Prime Minister on 9 July 2020 to attract export-orientated Hong Kong-based businesses to Australia.
Note: The above changes will not affect those already in the process of applying for their visa or have already lodged their application. For those who intend to beat the changes, you MUST lodge your visa application before 1 July 2021.
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