Study in Australia: Labour’s 2023 Federal Budget Outlines Changes to Australian Migration

Fly-Finance-News-Covers
Home » News Updates » Study in Australia: Labour’s 2023 Federal Budget Outlines Changes to Australian Migration

Australia’s 2023 Federal Budget has outlined changes to the country’s migration policy. The changes include plans to tighten enrolment requirements for international students. Moreover, it also states to offer faster pathways to PR for skilled graduates and increase Visa Application Charges (VACs). 

Study in Australia: Labour’s 2023 Federal Budget Outlines Changes to Australian Migration

Work Hour Cap for International Students to be Reinstated

The budget confirms that the work hour cap for international student visa holders will be reinstated from 1 July 2023. It was removed during the Covid-19 pandemic. So, the work hour cap will be 48 hours per fortnight. International students who are working in the aged care sector will be exempt from the limit until 31 December 2023. 

The migration strategy also stated that providing faster pathways for PR will improve job readiness and outcomes of International students. 

The budget also states to provide an extra two years of post-study work rights to Temporary Graduate visa holders. These graduates will be from selected degrees to improve the pipeline of skilled labour in critical sectors.

Increased Visa Application Charges

The government plans to increase Visa Application Charges (VACs) by 6 percentage points from 1 July 2023. It will be in addition to the regular indexation. The VACs are projected to raise $100 million (INR 10 Crore approx) in 2023-24 and $665 million (66.5 Crore approx) over 5 years.

Visitor, student, and backpacker visa application fees will also increase. The visitor 600 visa application fee will increase by $40(INR 3000 approx). It will be increased from $150 (INR 12,305) to $190 (INR 15,585).

While the student 500 visa application fee will rise by $65(INR 500 approx), from $650 (INR 53,319) to $715 (INR 58,651). The working holiday visa fee will increase by $130 (INR 10,000 approx), from $510 (INR 41,835) to $52,499.

For more exciting news updates, make sure you contact Leverage Edu.

About Fly Finance News Desk

Leave a Comment

Open HSBC International Student Account: Step-by-step Guide Student Loans for Scotland: Know It All Here How to Claim Tax Benefits on Personal Loans? Top Australian Scholarships for Indian Students HDFC Bank Education Loan to Study Abroad Best Checking Accounts for Indians while Studying Abroad Yes Bank Education Loan to Study Abroad Purpose Code for Outward Remittance How to Fix Delinquency on Credit Report Benefits and Risks of Paying Student Loans with Credit Cards
×

Send Money Abroad in <15 mins

×

Request a callback

×

Get an education loan at the lowest interest rate

×

Thank you! Your call request has been submitted

Our team will connect with your shortly

aero Confused which education loan is the best for you?