How does the Federal Budget impact talent mobility?

Earlier this week, via Federal Budget announcements, the Australian Government announced that the planning levels for the 2024–25 permanent Migration Program (Migration Program) will be set at 185,000 places, with an approximate 70:30 split between the Skill and Family streams, down from 190,000 places in 2023-24.

Within this allocation, the Government has increased the planning level for Employer Sponsored visas from 36,825 visas in 2023–24 to 44,000 visas in 2024–25.

The Government also announced measures aimed at drawing highly skilled migrants to Australia, as it moves to overhaul the migration system, including a new National Innovation visa, to replace the current Global Talent visa from later this year, targeting “exceptionally talented migrants who would drive growth in sectors of national importance”.

From 2025–26, the Migration Program will move to a multi-year planning model, extending the Program planning horizon to four years from the current twelve month cycle. Public consultation on the size and composition of the first four-year cycle (covering 2025–26 to 2028–29) will commence later this year and we encourage all of our members to share their feedback – let your voice and business needs be heard!

Read more on the Department of Home Affairs website:

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