Budget implications for visa applicants
May 12th 2015, 12:27 pm
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Budget implications for visa applicants
Budget 2015: Working holiday crackdown yields millions; visa applications to cost more - Federal Budget 2015 - ABC News (Australian Broadcasting Corporation)
The Federal Government will save hundreds of millions of dollars by increasing visa application fees and forcing some foreigners working in Australia to pay more tax.
From July 2016, those on a working holiday in Australia will no longer enjoy a tax free threshold of up to $18,200, and will instead be forced to pay 32.5 per cent tax from their first dollar earned.
The Government is also banking $440 million in savings by increasing fees for visa applications made overseas and by moving to "full cost recovery" for citizenship costs.
As expected, foreign investors wanting to buy real estate in Australia will be charged an application fee of between $5,000 and $10,000, depending on the value of the property, raising $650 million for the budget over four years.
The Federal Government will save hundreds of millions of dollars by increasing visa application fees and forcing some foreigners working in Australia to pay more tax.
From July 2016, those on a working holiday in Australia will no longer enjoy a tax free threshold of up to $18,200, and will instead be forced to pay 32.5 per cent tax from their first dollar earned.
The Government is also banking $440 million in savings by increasing fees for visa applications made overseas and by moving to "full cost recovery" for citizenship costs.
As expected, foreign investors wanting to buy real estate in Australia will be charged an application fee of between $5,000 and $10,000, depending on the value of the property, raising $650 million for the budget over four years.
May 12th 2015, 12:37 pm
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Re: Budget implications for visa applicants
Visa Application Charges (VACs) will change from 1 July 2015.
These adjustments include:
• A price increase in line with inflation (2.3 per cent) on visas which face strong international competition or have been impacted by recent price increases.
-contributory) Parent visa streams where the underlying demand is not expected to be impacted by the price increase.
• A 50 per cent increase to the Significant Investor Visa (SIV) stream in the permanent migration Skill stream category where the VAC is a very small component of the minimum $5 million of investments required under the visa regulation.
• An alignment of VAC prices where a differential currently exists for lodging an onshore and offshore application for specific visa subclasses.Electronic Travel Authorities (ETA) , eVisa and Refugee and Humanitarian visas will not be affected by these changes. A comprehensive list of VAC price increases is included on the link below
http://www.immi.gov.au/pub-res/Docum...fact-sheet.pdf
These adjustments include:
• A price increase in line with inflation (2.3 per cent) on visas which face strong international competition or have been impacted by recent price increases.
These include specific visas within the Permanent Migration Skill Stream, Skilled Graduate, Temporary Long Stay Business (Subclass 457), Visitor and Student visa streams.
• A 5 per cent price increase on visas which continue to see strong demand despite previous increases, or are likely to see a sustained volume increase through policy changes under consideration. These include specific visas within the Temporary Resident Short Term Business and Entertainment visas, Working Holiday visas, Resident Return and Retirement Investor visas, and Contributory Parent visa streams.
• A 10 per cent price increase on specific visas within the Other Family (Remaining Relative, Carer and Aged Dependent Relative) visas, and (non-contributory) Parent visa streams where the underlying demand is not expected to be impacted by the price increase.
• A 50 per cent increase to the Significant Investor Visa (SIV) stream in the permanent migration Skill stream category where the VAC is a very small component of the minimum $5 million of investments required under the visa regulation.
• An alignment of VAC prices where a differential currently exists for lodging an onshore and offshore application for specific visa subclasses.Electronic Travel Authorities (ETA) , eVisa and Refugee and Humanitarian visas will not be affected by these changes. A comprehensive list of VAC price increases is included on the link below
http://www.immi.gov.au/pub-res/Docum...fact-sheet.pdf
