This year, 2024 was a very interesting year for migration in Australia. There were many interesting developments which we have tried to capture in one swoop.
Introduction of the National Innovation Visa (NIV): On 7 December 2024, the NIV was launched to attract exceptional talent in critical sectors, replacing the Global Talent Visa (Subclass 858).
Launch of the Skills in Demand (SID) Visa: Effective 7 December 2024, the SID Visa replaced the Temporary Skill Shortage (TSS) visa (Subclass 482), featuring Specialist Skills, Core Skills, and Labour Agreement streams to address labour shortages.
Adjustment of the Temporary Skilled Migration Income Threshold (TSMIT): From 1 July 2024, the TSMIT increased from AUD 70,000 to AUD 73,150, ensuring competitive salaries for skilled migrants.
Extension of Job Search Period for Sponsored Workers: Holders of 482, 457, and 494 visas now have up to 180 consecutive days to find a new sponsor if their employment ends, effective 1 July 2024.
Closure of the Business Innovation and Investment Program (BIIP): The BIIP was discontinued from July 2024, streamlining visa categories and focusing on high-performing entrepreneurs and investors through the NIV.
Allocation of 185,000 Places in the 2024–25 Permanent Migration Program: The program set 132,200 places for the Skill stream and 52,500 for the Family stream, addressing skill shortages and supporting family reunification.
Adoption of a Multi-Year Migration Planning Model: From 2025–26, Australia transitioned to a four-year planning horizon for the permanent Migration Program, enhancing strategic alignment with national needs.
Enhancement of Regional Migration Initiatives: Increased allocations for state and territory nominated visa categories encouraged skilled migrants to settle in regional areas, promoting balanced population growth.