The newly released Federal Budget 2015 has brought with it some significant changes to many areas, including much of immigration and border protection. One of the most significant changes affecting potential visa applicants is the increase in Visa Application Charges (VAC) for a range of visas. The aim of these price increases is to raise the government’s revenue, and is expected to do so to the tune of $437.1 million over the next four years.
From 1 July 2015, the following changes are likely to be seen:
- The VACs for visa applications made overseas will increase to align with the application charges of onshore visas (with the exception of Child visas, which will instead be matched to offshore prices);
- The Subclass 457 VAC will increase by 25%;
- The Significant Investment Visa VAC will increase by 50%; and
- Working holiday visa holders will have the tax free threshold (currently up to $18,200) removed, and will be made to pay 32.5 percent tax from the first dollar they earn while travelling and working in Australia.
FCB Smart Visa will continue to provide updates on the implications for immigration as a result of the Federal Budget in due course. If you have any migration matters that you would like to discuss, please call an FCB Smart Visa migration agent on 02 9922 5188.