When the 2023-24 Budget was announced last night, we only knew that there would be 190,000 PR places (if you missed it, see: 2023-24 Australian Budget | 190,000 PR Places, 70% to Skilled! Visa Fees Rise Sharply After 1 July!), with 70% going to the skilled stream. This morning, the Department of Home Affairs website updated the specific allocation of these 190,000 places!
2023-24 New Financial Year PR Grant Quotas
For comparison, see
A few key dates to remember:
The Australian financial year runs from 1 July this year to 30 June next year.
In this article:
- Last financial year = 2021-22
- This financial year = 2022-23
- New financial year = 2023-24
186 — Employer Sponsorship
The Labor Government’s support for employer sponsorship goes without saying. The reforms previously announced for before the end of 2023 are all about making it easier for 482 holders to transition to PR (482 doesn’t use quota; it’s used when transitioning to 186 or for 186 DE). Now, within a relatively limited space, 186 has been given an additional 1,825 places.
So for those with 1.5-2 years of work experience, whether onshore or overseas, do not forget about the employer sponsorship pathway in the new financial year.
189 — Points-Tested
The changes to 189 deserve particular attention. 189 has many streams, and the one everyone cares most about is the points-tested stream, which issues invitations.
The good news for the new financial year is that more quota is actually allocated to the 189 points-tested stream.
Due to reforms to the NZ stream itself, it no longer uses the 189 grant quota. As a result, 4,575 more places are available to the 189 points-tested stream, bringing the total to 30,175 — more than this financial year.
The less favourable news for the new financial year is that visa applications not finalised in this financial year will use quota from the new financial year, and this financial year’s backlog may be double last year’s.
Last financial year’s 189 backlog was only around 10,000 applications, so a relatively large number of 189 grants were “left over” for this financial year. Due to the flood of 189 grants this financial year, the visa application backlog by the end of February exceeded 30,000, and is estimated to still be over 20,000.
So the new financial year’s 189 situation may be similar to this year’s, but hopefully the Department can issue invitations steadily and evenly rather than booming in the first half and going silent in the second. From an advisory standpoint, state nomination can still serve as the baseline, with 189 as a Plan B for a pleasant surprise.
190 and 491
To re-emphasise, what was announced today are grant quotas. Grant quotas form the basis for state nomination quotas, but the relationship isn’t simple arithmetic — only that more grant quota generally means more state nomination quota.
The 190 and 491 grant quotas for the new financial year are broadly similar to this year’s, at around 60,000 combined (494 uses very little quota), so the overall state nomination quota situation is expected to be fairly similar.
What may change is which states get more or fewer places. For example, WA and TAS have both explicitly asked for more places; VIC’s 190 has been wild this year — can it continue to stand out? QLD, as the third state, has been quiet for a long time — with the decline of investment migration, will it take on more skilled migration?
How will each state structure its requirements? How will the Federal government ultimately distribute state nomination quotas? We’ll only know around 1 July.
Investment Migration
There’s no way around it — just like 189 in previous years, without government support it keeps getting sidelined. It’s the biggest loser in the new financial year’s quotas. Like 190 and 491, the reduction in grant quota means state nomination quotas won’t be plentiful either, so in the new financial year, investment migration places will really need to be snapped up! Prepare early!
GTI
GTI maintaining 5,000 places is a mild surprise — a pleasant one. It shows the Labor Government still wants to develop GTI properly, and wants to reform it for the better. Those who have already lodged or are preparing to lodge a Global Talent application still have opportunities!
Parent Migration
The total family stream numbers and sub-category figures are identical this year and next. To reiterate on parent migration: it remains 8,500 places. If the previous 4:1 ratio of contributory to queued holds, there will be around 6,800 contributory places. Under this financial year’s 8,500-place allocation, parent migration has seen a slight improvement, with processing speeding up.
However, the waiting period for applications lodged now is definitely 10+ years, and we have analysed many times that parent migration is unlikely to see very large quota increases. Once you’ve obtained PR, lodge for your parents as early as possible — and the visa fee has gone up again in the new financial year, by at least 6%…
A Bit of Analysis
Our first impression on seeing this specific allocation is that the new financial year and this financial year should be similar in shape. This financial year was a flood-release; the new financial year will hopefully be a more orderly controlled flow.
For applicants, if you’re still on the migration journey this financial year, you can continue to prepare with confidence — in skilled migration terms, the new financial year won’t be worse.
And a key reminder: while keeping an eye on 189, 190 and 491, don’t forget 482 employer sponsorship, or even the direct 186 DE employer-sponsored green card pathway. Upfront costs may be higher, but both employment and PR come with a degree of certainty at the same time.
