July is soon approaching and with that we will see the reforms to the 457 visa scheme come into effect. Latest updates announced by the Government on the controversial 457 visa scheme include;
Increase of visa application charge; $900 instead of the current $455
Employers will need to make every effort to employ Australians before resorting to foreign workers
Exemption threshold is being raised to $250,000
With the election taking place this year, there has been a lot of political play onto the proposed changes to the 457 visa. Political leaders are communicating the tightening on 457 visas is to protect “Australian jobs for Australian citizens and residents”.
While there has been much talk recently about the extent of the structural budget deficit, accompanied by the inevitable commentary about increases in taxes and reductions in expenditure, a notable absence has been the subject of how long Australians are living.
Australia is undergoing a period of substantial demographic change. For the first time, our society seeks to support two older generations – the baby boomers in their 60s and their parents in their 80s and 90s. An Australian boy born in 2010 can expect to live to 80. A girl born in the same year can expect to reach 84. Of those who make it to 65, men can expect to live to 84 years and women to 87 years.
By contrast, in 1901 only 4% of Australians were aged 65 years or older. By June 2010, this proportion had risen to 13.5%. According to ABS projections, this proportion will increase to between 21% and 23% by 2041.
That’s one in four of us over the age of 65 in 28 years’ time.