The federal budget for 2024-25 was announced on the evening of May 14, 2024, revealing the new trends for the upcoming fiscal year, including migration. In this article, we will highlight several important changes.
Migration Program Planning Levels:
Firstly, let us delve into the PR visa quota, a matter of significant importance. The 2024–25 permanent Migration Program has been established with 185,000 places, emphasising the filling of skills shortages in priority sectors and prioritising visa processing for regional Australia.
This program comprises the Skill stream (71%), Family stream (28%), and Special Eligibility stream (1%).
The PR visa quota stands at 185,000 for the upcoming fiscal year, reflecting a decrease of 5,000 compared to the current fiscal year. Within this quota, the allocation for skilled migrants is 132,200, indicating a reduction of 4,900 from the skilled category and 100 from Special Eligibility.
Migration Program planning levels
We have compiled the immigration plans for the fiscal years from 2021-22 to 2024-25, and it can be observed that the skill visa stream doubled after the pandemic but gradually decreased thereafter. The family stream has been consistently decreasing, but the quota has remained unchanged for the past three years. Overall, the total quotas for the migration program have been relatively stable over these three years.
Migration program comparison across four fiscal years:
Employer Sponsored Visa Category
The planning level for Employer Sponsored visas has increased from 36,825 in 2023–24 to 44,000 for the 2024–25 permanent Migration Program. This adjustment aims to facilitate a greater proportion of temporary migrants to secure permanent residence, particularly through the Temporary Residence Transition Stream.
State/Territory Nominated Visa Category
The planning level for the State/Territory Nominated category has been raised to 33,000 visas, along with an equal planning level for the Regional category for the 2024–25 Migration Program. These increases intend to attract skilled migrants to address specific economic and labour force challenges, supporting regional Australia and prioritising visa processing.
Skilled Independent Visa Category
The allocation for Skilled Independent visas in the 2024–25 Migration Program is 16,900 places, marking a decrease from the previous year but remaining above COVID-era levels. This adjustment reflects the government’s focus on highly skilled individuals contributing to the economy.
Business Innovation and Investment Program (BIIP) Visa Category
The planning level for the BIIP has been reduced from 1,900 visas in 2023–24 to 1,000 visas for the 2024–25 permanent Migration Program. This reduction aligns with the closure of the BIIP, with emphasis shifting to the forthcoming National Innovation visa, aiming to support a stronger economy.
Global Talent Visa Category
The planning level for the Global Talent Visa Program is slightly reduced to 4,000 visas for the 2024–25 Migration Program. This adjustment aligns with broader reforms around talent and innovation, transitioning to the National Innovation visa while maintaining support for highly talented migrants.
Family Stream
The size of the family stream remains unchanged, recognising its importance in Australia’s migration system. The largest component, the partner visa category, operates on a demand-driven model to manage processing times effectively. Other categories, like Parent and Child visas, have maintained their planning levels to uphold family reunification principles.
These changes reflect the government’s efforts to attract highly skilled individuals, support innovation, and streamline the visa application process. As these reforms take effect, it’s crucial for individuals and businesses navigating Australia’s immigration landscape to stay informed and seek professional guidance tailored to their specific circumstances.
Disclaimer: Not Legal Advice
The information provided in this blog post/article is for general informational purposes only. It does not constitute legal advice or create a representative-client relationship. While we strive to provide accurate and up-to-date information, the content may not reflect the most current legal developments or specific circumstances.
Do not rely solely on the information presented here – but please book in a consultation with us to see how you this information applies to you and may benefit you. Any reliance on the material in this post is at your own risk.
Remember Australian immigration law is considered most complex laws in Australia. Seek professional legal advice tailored to your individual needs before making any decisions based on the content of this post.
