Currently, employers who wish to sponsor skilled workers either have to pay 2% of their payroll to an industry training fund or spend at least 1% of their payroll on training their Australian employees.
One of the major upcoming changes to employer sponsored and skilled visas affects these training benchmark requirements. As of March 2018, business sponsors will no longer be required to meet those training benchmark requirements. Instead, they will be replaced by the requirement to make financial contributions (for each overseas employee who is sponsored) to a newly created Skilling Australians Fund.
How will your business be affected by the new regulations?
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For more information regarding the current 457 training benchmarks and the upcoming changes, please contact our experienced migration agents.