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6 Major Updates for International Students and Migrants in the Australian Budget 2024

Key Updates from the Australian Budget 2024-2025 for International Students and Migrants

The Australian government’s budget for the fiscal year 2024-2025 has introduced several important changes affecting international students and migrants.

We’ll talk about the following:





 

Capping International Student Numbers

Impact on University Enrollments

The Australian government plans to cap the number of international students that universities can enroll. This measure aims to address the housing crisis by requiring universities to provide more student accommodation. The new regulations will mandate universities to build additional housing for both local and international students, easing pressure on housing prices and rental costs.


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Reduction in Permanent Migration Cap

Lower Migration Quotas

The permanent migration cap for the next financial year will be reduced from 190,000 to 185,000 places. This includes 132,000 spots allocated under the skilled stream. Notably, the skilled independent visa category will see a significant decrease from 32,100 to 16,900 places. This reduction reflects the government’s efforts to balance migration with economic and social needs.





 


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Net Overseas Migration Adjustment

Post-Pandemic Normalization

The government expects net overseas migration to return to pre-pandemic levels. For the financial year 2024-2025, the number of migrants is projected to decrease to 260,000, down from 528,000 in 2022-2023. This adjustment aims to stabilize population growth and ensure sustainable resource management.

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Changes to Temporary Skills Shortage Visa (Subclass 482)

Reduced Work Experience Requirement

Starting November 23, 2024, the work experience requirement for the Temporary Skills Shortage Visa (subclass 482) will be reduced from two years to one year. This change will make it easier for skilled workers to qualify for this visa, addressing labor shortages in critical sectors.





 

Introduction of MATES Program for Indian Nationals

New Mobility Scheme

From November 1, 2024, the Mobility Arrangement for Talented Early Professionals Scheme (MATES) will allow 3,000 Indian graduates and professionals to live and work in Australia for up to two years. Applicants must be under 30 years old and hold a bachelor’s degree or higher in fields such as renewable energy, artificial intelligence, and engineering. This visa does not require sponsorship and will operate on a ballot system.


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New Ballot System for Working Holiday Visa (Subclass 462)

Regulating Demand

A new $25 ballot system will be introduced for the Working Holiday Visa (subclass 462) for applicants from China, India, and Vietnam. This system aims to regulate demand and streamline processing times for these applications. The exact implementation date is yet to be announced but is expected within the 2024-2025 financial year.

These updates highlight the government’s strategic approach to managing migration, supporting economic growth, and addressing housing challenges. Stay tuned for further developments and ensure you keep up with the latest changes in Australian immigration policies.





 

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