Australia has recently unveiled a plan to improve its Australia Overhauls Immigration system with the goal of making the process more efficient and enticing professionals, from various nations, especially India. The revamp primarily concentrates on modifying the points-based system expediting visa procedures and guaranteeing salaries, for immigrants.
The need for change in the Australia Overhauls Immigration system arose from a desire to better screen and select suitable applicants for various jobs in their growing economy. As a result, Australia has entered into a partnership with India to open opportunities for students, academic researchers, and businesspeople through a new scheme primarily aimed at retaining international talent within the country.
Furthermore, the government is set to introduce reforms targeting specific skillsets needed by the Australian economy, including mining, engineering, artificial intelligence, fintech, and aggrotech. This is expected to foster an environment where skilled immigrants can contribute significantly to prosperous industries in Australia.
Several key changes have been introduced as part of the overhaul:
- Temporary Skilled Migration Income Threshold (TSMIT): This permit must be granted by companies to immigrants before they receive a temporary skilled visa. Recently increased to 70,000 Australian dollars, TSMIT aims to prevent businesses from hiring immigrants on a low-wage basis while guaranteeing immigrants a fixed wage threshold that cannot be altered by their employer.
- Pathway to Permanent Residency: Home Affairs Minister Claire O’Neil has addressed the concern of visas becoming a state, for certain immigrants. She has given assurance that, by the end of this year temporary visa holders will have the opportunity to apply for residency status providing a pathway to secure their future in the country.
- Simplification of Visa Application Processes: The Australian government is aiming to simplify the visa application process in order to reduce the time it takes to obtain visas and attract professionals more efficiently. This includes implementing a stringent ‘point test’, where applicants with skills that benefit, national interest are encouraged to enter the country.
The main catalyst for this shift stems from Australia’s widespread labor shortages across a range of industries. As a result, the government faces pressure from large corporations to increase migration intake, thereby fostering economic growth. Australia’s immigration reforms have the goal of decreasing the number of immigrants who earn wages, which is currently, over 30,000. As an alternative they are considering implementing a wage cap for employees. This reform is designed to provide opportunities not for professionals but also for international students and graduates to reside and work in Australia for more, than two years.
In September Australia saw an influx of 195,000 migrants, which marked a rise of 35,000 compared to the month. Moreover, the government has recently declared that as of July 1st the minimum wage, for workers will be increased to A$70,000 (INR 37,17,624). This policy change aims to attract individuals from developing nations like India who’re, in pursuit of opportunities.
Due to mounting living expenses, consumers are tightening their budgets. Consequently, businesses struggle to transfer their escalating costs onto customers in the form of increased prices. With the unemployment rate nearing a 50-year low, this could create a more severe labor shortage within the service industry.
Please note that it’s important to understand that a recent study has found that 90% of full-time jobs, in Australia now offer salaries above the threshold. This trend has resulted in the exploitation of workers.
As per an agreement between Australia and India graduates who have studied in Australian institutions on student visas are now eligible to seek job opportunities and professional growth in Australia for, up to eight years without needing visa sponsorship.
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Disclaimer: This article is for informational purposes only, exclusively written and published by IntraSource. The published information is sourced from various trusted platforms, such as news agencies and online media, mainly the Government of Australia, Immigration and Australian online media/websites, and should not be considered as legal or professional advice. Australia immigration requirements may change, so consult a lawyer/s and receive professional advice before making decisions or applications.