The New Australian Fiscal Year Is Coming: What You Should Know?

The New Australian Fiscal Year Is Coming: What You Should Know?

Australia’s new fiscal year will take effect on the 1st of July 2016.  In line with the Federal Budget announcement, the Department of Home Affairs (DHA) is set to implement a number of changes to their visa program. Although the department has predicted an increase to the set quota, several issues may impact your eligibility should you plan on migrating to Australia and wish to lodge in an application in the months ahead.

Changes on the Skilled Occupation List (SOL)

The Australian Federal Government together with its industry advisers regularly conducts assessments on the needs of the economy. This is done to ensure that local industry and employers are able to access a ready pool of skilled labor.

If you plan on pursuing a course of study in Australia with the objective of migrating to Australia or lodging an application under the General Skilled Migration Program, it is imperative that your nominated occupation be one which is highly sought after.

With the dawn of the new fiscal year, the new SOL will define what’s needed and what’s not. So going forward, if you’ve thought you qualified and procrastinated, your eligibility may now have been compromised. However, whilst you previously did not qualify, you may now cease the opportunity to apply whilst the winds of change are now blowing in your favor!

For international students planning to study and migrate to Australia, you may wish to consider whether or not your intended course of study will result in your skills being relevant to the new economy.

There were two occupations added on the SOL, and nine were removed and transferred to the Consolidated Skilled Occupation List (CSOL). Following the previous review, there were also a number of occupations that were “flagged”. These flagged occupations are subject for possible removal in the future if the government identifies that the supply is higher than the demand.

Simplified Student Visa Framework (SSVF)

Starting 1st of July 2016, DHA has set to only have one student visa to study in Australia regardless of what field of study you are planning to take – the Subclass 500. This new student visa programme is designed to make the application process simpler. Alongside with this new student visa type, there are also English requirements, financial capacity evidence and different conditions set by the government to get an approval. For current student visa holders under subclass 570 and 576, your visa conditions will not change after the 1st of July 2016.

These are only a few of the changes in the Australian Immigration laws that would take effect on the new fiscal year. The laws change from time to time so it is expected that this dynamic immigration process will continue to change in response to the requirements of the Australian government.

As one of the registered Australia migration agency in Singapore, we have helped thousands of applicants migrate to Australia from Singapore or anywhere else. We value our customers as much as we value our business. Let NTRUST help you take your migration plans forward. Call (65) 6299 0245 to book a consultation appointment.