Why you should proceed with permanent residency nominations before March 2018

Why you should proceed with permanent residency nominations before March 2018

March 2018 looms as the next significant date where major changes to migration legislation come into effect.   At this time the Temporary Skills Shortage (TSS) visa will be introduced which will affect those who have been working in Australia on a 457 visa and intending to apply for a permanent residency after two years employment with a sponsoring business.

In addition, on March 2018 there is also a change in training levies that will have a major impact on Australian businesses that employee overseas citizens. New training levies are being introduced that will make the process more expensive for a nominating company. For this reason, businesses should submit permanent resident nominations before March 2018.

The New Training Levy explained

From March 2018, current training benchmark requirements will end with a new Skilling Australians Fund (SAF) levy to be paid instead.  This is to be paid when nominating for the new TSS visa, as well as employer-sponsored permanent visas.  This new levy will make nominating employees considerably more expensive.

The amounts payable are:

• For a small business with turnover less than $10 million, the fee will be $1,200 per nomination per year for the TSS visa. A business with turnover above $10 million will pay $1,800 per nominee per year. Eg An application for a four-year visa for a large company will cost $7,200 payable when the nomination is made.
• For permanent visas, the charge is $5,000 per applicant for a large business and $3,000 per applicant for a small business.

Other options

There are alternatives pathways available for permanent residency – but only for the next 6 weeks.

If you are not able to apply for permanent residency via the Temporary Residence Transition (TRT) stream, you could apply for a 186 or 187 visa via the employer nominated direct entry (DE) stream. This stream does lead to a permanent residency visa. But you must demonstrate you meet the required Australian skills level prior to lodgement.

With regards to skills assessment, each eligible occupation has a unique skills assessing authority which will assess if the applicant meets the skill requirements and criteria to use this pathway.

With March 2018 just around the corner, it’s time to get moving if you are considering applying for permanent residency. It will only get more difficult from March 2018.

Get in touch and book a consultation to discuss your individual options.