The 411 on the 457

We’ve all heard about the changes to the 457 visa. But now that those changes are at our doorstep, it’s highly recommended that all business owners and potential future business owners get up to speed on the ins and outs of the new replacement visa, and what that may mean for their business and their employees.

The highly anticipated changes to the 457 visa are now in place, with the TSS (Temporary Skills Shortage) visa stepping up to the plate to replace the 457, effective 18th March.

What is the TSS visa?

Otherwise known as the ‘Subclass 482’ visa, the TSS visa will comprise three streams:

  1. Short-term

Overseas workers that meet the requirements of a short-term TSS visa will be permitted to stay in Australia for a maximum of two years. This visa will not allow the visa holder to obtain permanent residency.

  1. Medium-term

Overseas workers that meet the requirements of a medium-term TSS visa will be permitted to stay in Australia for a maximum of four years. This visa may allow the visa holder to gain permanent residency after three years.

  1. Labour Agreement

This stream will allow skilled overseas workers to be employed under a labour agreement with the Commonwealth Government, granted that there is a specific need that cannot be met by the Australian labour market.

Important things to consider

  • Unlike the original 457 visa, the TSS focuses on the skills of the overseas worker. If their skills and qualifications match those on the Short-term/Medium/Long-Term Skilled Occupation Lists, they will be potential candidates for one of the three TSS streams. However, if the overseas worker has been trained in an area that does not feature on this list, they will not qualify.
  • The Skilled Occupation Lists may include a slightly broader spectrum of occupations in regional areas.
  • Employers MUST pay the TSS visa holder the Annual Market Salary Rate and also meet the Temporary Skilled Migration Income Threshold.
  • Workers must have at least three years work experience in their field in order to qualify for a TSS visa in that same field.
  • All applicants must be below the age of 45 at the time of application.

 

As always, we advise that you speak to a professional regarding all visa-related matters. We highly recommend our friends at Visa Solutions, who continually keep us up to speed with all necessary visa changes.

GMO-logo-white@2x
Facebook Twitter

Whether you dream of buying a business, want to sell your Perth or WA business, or want to know the value of your company – GMO’s business brokers and valuers are here to assist you. We have won the City of Perth Award for Business Excellence and our Managing Director has been elected as a fellow of the Australian Institute of Business Brokers. Whether you are a buyer or a seller, GMO can introduce you to the right person.

© GMO BUY A BUSINESS 2024. ALL RIGHTS RESERVED

Created by Websupport.net.au | Designed by White Mouse Design

CONFIDENTIALITY DISCLOSURE AGREEMENT

  • The disclosers are willing to disclose such information to the recipient subject to their acceptance of the following conditions:
    1. The recipient shall treat all information received from the discloser as confidential and shall ensure that all such information remains confidential and shall not use any such information in any way other than for the specific purpose aforesaid. The recipient acknowledges that all conditions subsequent in this disclosure apply to the recipient and any associates of the recipient be they partners, co‐directors, trustees, holders of shares or officersin entity(s) the recipient has interest in.
    2. The obligations of paragraph 1 shall not extend to any such information which is in the public domain, or which hereafter becomes part of the public domain otherwise than as a result of any unauthorised activity or omission of the recipient, or which is already in the possession of the recipient and was not derived from the disclosers.
    3. The recipient shall return all such information received other than that which is submitted orally at the termination of such negotiations entered into as a result of this agreement.
    4. The obligations set forth in paragraph 1, 2 and 3 shall terminate 12 months from the date of this agreement or upon the disclosers and the recipients entering into an agreement whichever event occursfirst.
    5. The recipient shall obtain no rights of any kind to such information other than for the specific purpose stated in this agreement.
    6. The receiving party will not utilise any material made available to improve, construct or change another business, in such a way as to allow that business to compete with the business being discussed.
    7. The recipient understands that the information has been compiled by GMO from details provided by the Vendor. Prospective purchasers should be aware that it is not intended that any projections or this information be treated as a representation, warranty or promise by GMO or its representatives, as to the correctness of the information, or that all relevant information is contained in the information provided.
    8. The recipient acknowledges that they will not act on information provided without first seeking independent financial and legal advice.
    9. The recipient hereby agrees to declare any beneficial interest in any business that could currently be interpreted as being in competition with the subject business.
    10. The recipient agrees to return all documents supplied within 50 days of receipt (and any copies) should they decide not to proceed. The recipient further agrees to destroy any electronic information supplied by the Seller or GMO and to instruct their professional advisors to also destroy any information passed on by the Seller, the recipient or from GMO.
    11. The recipient acknowledges they are precluded from physically visiting the premises of the business or talking to any client, supplier or employee of the business without the permission of the discloser.
    The recipient/s hereby accepts the above conditions as binding on them in respect of the information referred to.
    By ticking you are accepting and agree to our Terms & Conditions including Confidential Disclosure Agreement & Privacy Policy.

Subscribe to GMO's Monthly Hotlistings

Subscribe today to receive GMO’s monthly updates and a list of all current business opportunities
  • This field is for validation purposes and should be left unchanged.

All Search Filters

  • Business type

  • Industries

  • Search by keyword

  • Price

    $ - $

  • Net Profit

    $ - $

  • Location

  • Agents

  • Sort by Price

  • Reset