Study in Australia: Federal Budget 2023; Considerations for Overseas Students

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The Australian government unveiled the new federal budget for 2023–2024 last night, May 9, 2023. There is a lot to absorb, including updates to skilled visas and the cost-of-living crisis, so that’s where we come in.

The federal budget for 2023 includes five key points for international students in Australia, which we examine below.

No hourly limit will apply to international students working in the elderly care industry in 2023

Earlier it was informed that, starting on July 1, 2023, the 48-hour limit on working hours per fortnight would be reintroduced for overseas students. This does not, however, apply to you if you are an international student employed in the aged care industry.

International students employed in aged care will not be subject to the cap on working hours for the remainder of the year, according to the government budget for 2023. They can put in an unlimited amount of time until December 31, 2023. It wasn’t stated whether overseas students working in aged care starting on January 1, 2024 will be subject to the 48-hour limit per fortnight. 

Increased fees for applying for visas

A rise in visa application fees (VACs) has also been announced in the budget for a number of visa types, including student (subclass 500) and visitor (subclass 600) visas as well as working holiday/work and holiday (subclasses 417 and 462) visas. The fees for these visa applications will be as of July 1, 2023:

  • Student visa (subclass 500): A$715 (up from $650).
  • Visa for visitors (subclass 600) costs A$190 (up from $150).
  • Visa for Working Holiday/Work and Holiday (subclass 417 and 462): 640 Australian dollars ($510 previously).

Cost-of-Living Assistance

Australia is going through a cost-of-living crisis as a result of sky-high inflation and a competitive rental market. There are methods people can employ on their own to manage it, but there have long been cries for government assistance.

In response, the government released a $14.6 billion cost-of-living assistance package.The vow to build more homes and to keep salaries moving are among the items in the package that are most pertinent to overseas students in Australia.

Australia now has a severe housing shortage, which is one of the causes of the country’s rental crisis. As a result, the government has pledged to start building one million new homes nationwide starting in 2024.

Updated Migrations by Experts

Significant changes to Australia’s immigration system, particularly its skilled migration programme, are also outlined in the federal budget. The budget documents state that this will entail giving qualified graduates quicker routes to permanent residency. The government intends to achieve this by establishing more straightforward channels for graduate visas for international students. As a result, applicants will need bridging visas less frequently while their sub) is being processed.

Finances in Australia’s Health Care System

Top investment priority in Federal Budget 2023 is healthcare and social assistance. Basically, the investment for the same includes $ 31.6 million for improved training arrangements for overseas medical students for the ones working in remote and rural areas. 

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