Immigration minister Alex Hawke on Tuesday added 22 occupations to the Priority Migration Skilled Occupation List (PMSOL) aimed at filling critical skills in Australia amid international border closures.
Read more at the Accountants Daily.
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‘A war for talent’: Accountants prioritised under skilled migration list
International accounting and audit professionals looking to work in Australia will now see their visas fast-tracked, as the government looks to plug a shortage of talent in the profession.
Budget highlights at a glance
Major Spending Initiatives
- $36 billion in new spending
- $17 billion in personal tax cuts
- $8.5 billion in universal Medicare spending
- $5 billion for childcare
- 20% of student debt wiped for 3 million students
- $150 off power bills for all households and small businesses
- Prescription costs capped at $25 each
Economic Forecasts
- Growth: 1.5% in 2024-25, rising to 2.25% in 2025-26
- Inflation: Expected to return to 2-3% band by June 2025
- Wage growth: Outpacing cost of living rises by 0.5% this year
Business Measures
- Non-compete clauses removed for workers earning under $175,000
- $20 million “Buy Australian” advertising campaign
- Incentives for construction and building worker apprentices doubled from $5,000 to $10,000
- Uncertainty around the instant asset write-off scheme
- Foreign investors restricted from buying new homes
Budget Position
- Deficit: $27.6 billion in 2024-25, rising to $42.1 billion in 2025-26
- Government spending as a percentage of GDP rising to 27%
