Market odds move firmly against Reserve Bank interest rate rise

THE market odds have moved firmly against an interest rate rise by the Reserve Bank in February.

The sharp change in direction, which began on Tuesday after the central bank revealed its December 1 meeting minutes, accelerated yesterday following a speech by RBA deputy governor Ric Battellino.

Mr Battellino signalled that rates could stay on hold when the RBA next meets in February, saying the “overall stance” of monetary policy was “back in the normal range”.

His comments, at the Australian Finance & Banking Conference in Sydney, surprised the markets, triggering a slump in the Australian dollar to below US90.

Last night the dollar was hovering around US89.70.

Financial market betting on a 25-basis point rate hike in February retreated from a 67 per cent chance to 45 per cent.

Mr Battellino said that although the cash rate still seemed “unusually low” at 3.75 per cent, monetary policy was back “in the normal range” because the current level of deposit, housing and business lending rates made the cash rate equivalent to a “before the crisis” level of 4.75 per cent.

“Taking these considerations into account, it would be reasonable to conclude that the overall stance of monetary policy is now back in the normal range, though in the expansionary segment of that range,” he said.

The deputy governor’s remarks were made half an hour after the Australian Bureau of Statistics revealed economic growth in the September quarter was weaker than expected.

The national accounts showed GDP edged up just 0.2 per cent in the three months to September, half the pace of growth expected by the market, for an annual rate of 0.5 per cent.

The main drag on growth was a slump in exports which coincided with a jump in imports.

However, demand from households, businesses buying more equipment and government investment was solid.

ANZ acting chief economist Warren Hogan said the GDP figures indicated there was little urgency to get official interest rates back to a neutral setting, adding that Mr Battellino’s comments had “dealt a solid blow” to the prospect of substantial gains in the cash rate over coming months.

“Put another way, the emergency setting for interest rates has now been removed and policy will be adjusted as and when required by economic conditions,” he said.

Westpac chief executive Gail Kelly told reporters after the bank’s annual meeting in Melbourne yesterday that the RBA was likely to raise rates “very carefully” in 2010.

However, she said the official cash rate was not quite yet at a “normal” level.

Mrs Kelly said she remained cautious about the economic outlook while the bank’s chairman Ted Evans said a “V-shaped” recovery for Australia was unlikely.

“It will be a long recovery and that’s what our plans are based on,” he said. 

Source  :  www.news.com.au

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Winter sprinkler bans to become permanent

Sprinklers will be permanently switched off during winter from next year after the State Government today to retain this year’s trial sprinkler ban.

Yesterday’s decision follows a two-month trial ban during July and August, which Water Minister Graham Jacobs said saved about 2.2 billion litres of water, equivalent to filling 880 Olympic-sized pools and enough to supply towns the size of Manjimup or Collie for a year.

The permanent ban will apply from June 1 to August 31.

 The trial ban – for most scheme users south of Kalbarri – was introduced after water usage earlier this winter was running at 800 million litres a day, 300 million litres above average.

Dr Jacobs said today that the ban saved 50 million litres a day, while an independent survey last month indicated 93 per cent of residents supported the move.

“This is an outstanding community achievement because while there has been reasonably consistent rain, we are still well below the long-term annual rainfall average,” Dr Jacobs said

Dams were now at 45.5 per cent of capacity, their second-highest level this decade. They are holding 19 per cent more water than the same time last year.

Water Corporation figures show rainfall in all but one of the catchments for dams supplying Perth are below their historical averages for the year-to-date.

Dr Jacobs said the exact area of the permanent ban, and any adverse impact for industry and local government users would still have to be worked out.

This would occur “soon”, and some areas that took part in the trial ban – which ran from Kalbarri to Esperance and east to Kalgoorlie-Boulder – could have a case to be excluded.

These users were asked to voluntarily stop using bores during the two-month ban period, while garden bore users were allowed to turn them on for maintenance reasons.

“A lot of people say garden bores are not pulling on the scheme, but we all realise our underground water resources are all related,” Dr Jacobs said last month.

Source  :  www.watoday.com.au

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Migration Seminar

Down Under Live!, the UK’s biggest event for Australia and New Zealand returns to London in 2010 at the Business Design Centre in Islington.

The show will be bigger and better, with dedicated travel, working visa and recruitment zones, as well as the best advice and help for anyone planning the move of a lifetime down under.

Come and listen to our dedicated migration seminar programme, where visitors to the show can hear from recognised migration experts on every aspect of making the move of a lifetime. Topics covered include the visa process, how to avoid paying too much to have your goods shipped overseas and specialist areas such as healthcare and schooling.

State Governments such as South Australia will be on hand to discuss job opportunities, and highlight the best that their state has to offer migrants from the UK.

This is the ONLY show for Australia and New Zealand. Make sure you’re there.

COMING SOON! Check back regularly for exhibitor and seminar programme updates

January 30th – 10.30am to 5.30pm
January 31st – 10am to 4.30pm
Tickets from £5 per person. Under 16’s are admitted free.

SKILLED MIGRANTS! IF you are under 45, and are skilled in areas such as nursing, healthcare, engineering, construction, IT or finance, then you may qualify for a FREE ticket.

Source  :  www.downunderlive.co.uk

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Australia work visa holders get wage increase

Effective from 1 July, people moving to Australia on a temporary skilled work visa will be entitled to a higher minimum salary.     

The minimum salary that must be paid by Australian employers taking on foreign workers holding a temporary skilled work visa (457 Subclass visa) has increased by 4.1 per cent. The increase brings the minimum salary in line with the rise average wages since the previous wages review of August last year. The 457 Subclass visa entitles Australia immigration workers for a period of between three months and four years.

In addition to the changes in minimum salaries, the English language ability standards for trades people moving to Australian were also adjusted on 1 July. Previously, trades people were required to demonstrate a ‘vocational’ level of English. Under the new regulations, they must be able to demonstrate a ‘competent’ level of English. This brings the trades, such as carpentry, bricklaying and cookery to the same level in terms of English requirements as the other occupations listed as ‘in demand’ by the Australian immigration authorities.

The Skilled Occupations List includes all the occupations that are suffering skills shortages in Australia. Trades included in this list include a wide variety of professions e.g. fitters, hairdressers, cabinetmakers, landscape gardeners, electricians and locksmiths.

Source  :  www.globalvisas.com

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Get a healthcare job in Australia at Cardiff show

Skilled health professionals in the west of the UK are being given the chance to find out about a new life in Australia at the Down Under Live event in Cardiff. on the 11th July. 

There is currently a significant shortage of doctors, medical specialists and nurses in Australia, particularly in regional areas. One of Australia’s leading healthcare recruitment companies, HealthStaff Recruitment, will be coming from Australia to interview candidates for positions in Sydney, Brisbane, Adelaide and other cities.

Candidates will also be able to talk to a range of companies that will make the move possible, including migration agents, state governments, banks and shipping companies.

Tickets are free to any skilled professionals in the healthcare professions. For further information or to apply for tickets, go to www.emigrationseminars.com/cardiff.php

Source  :  www.australiamagazine.co.uk

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Work available in australia now

We are looking for 15 Radiographers/Sonographers to work in various locations across Australia. These positions are both locum and permenant and sponsorship visa will be provided.

Could you please contact us either through e-mail or phone and let us know whether you are interested.

These positions are ready to go now for the right people, so make the move to sunnier climbs!

I look forward to hearing from you

Sarah Clisby
holtlocums@live.co.uk
07792 167 160 / 07940 595 999

Source  :  www.pomsinoz.com

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Skilled Migration: Dispelling the Myths

Source  :  Alan Collet   www.gomatilda.com

Since Australia’s Immigration Minister announced changes to the skilled migration program at the end of last year there has been a lot of misunderstanding among intending skilled migrants. In this article we try to dispel some of the myths.

In no particular order, here are some of the comments we have heard in recent months:

Australia has stopped accepting skilled migrants

Nothing could be further from the truth. In fact, Australia’s skilled migration program (the amount of visas the Immigration Minister requires his Department to grant annually) is the highest on record this year, with a planned 115,000 skilled visas to be granted in the year to 30th of June, 2009.

The skilled program for 2009/10 is planned to be 108,100, which is the third highest program on record.

By way of comparison the skilled program in the last few years has delivered the following outcomes:

 
2007/08: 108,540
– 2006/07: 97,920
– 2005/06: 97,340
– 2004/05: 77,880

My occupation is not on the Critical Skills List and I can’t be sponsored by a State or Territory Government. That means I will never get a visa.

It is true to say that the Minister’s announcements have impacted quite significantly on the processing of skilled visas, with occupations on the CSL and State/Territory Sponsored skilled visa applications being the only offshore skilled visa applications that are being processed to a decision at the moment.

However, there will come a time (we anticipate in the next 3 to 4 months) when Department of Immigration case officers will have to move onto the next category on the Minister’s priority list, namely applications where an occupation on the Migration Occupations in Demand List (or MODL) is nominated.

We anticipate that many applicants with MODL occupations will have sought sponsorship from a State or Territory Government (as MODL occupations have tended to be included on their Wanted Skills Lists) and as such we think it likely that remaining skilled visa applications will start to be looked at with a view to visas being granted during the.

It should also be remembered that when the total skilled migration program was in the region of 70,000 annually processing times were typically 9 to 12 months – even allowing for heightened demand in recent years the large program total that is now available should allow visa application processing times to be closer to 12 months over the next year to 18 months.

And as ever, the sooner a visa application is lodged the sooner a visa will be granted.

I won’t be able to obtain sponsorship from a State or Territory Government

To a verying degree all of the States and Territories in Australia are sponsoring skilled individuals for the grant of visas. Some are sponsoring for the grant of provisional subclass 475 visas (which provide for permanent residency via a second visa application once subclass 475 visaholders have been residing and working in a regional area for the required period), while others are sponsoring for subclass 176 permanent residency visas.

The key question for intending skilled migrants is therefore which States and Territories are sponsoring my occupation, and for what subclass of visa.

If I am sponsored by a State or Territory Government I will have to live there while I remain in Australia

Technically, that is not the case. If applying to a State or Territory Government for sponsorship you will be asked to provide information that demonstrates you are genuine in your intentions to reside in that State or Territory.

Indeed, in most cases you will be asked to sign an undertaking to reside in the sponsoring State/Territory for at least 2 years.

We would add that when applying for sponsorship you should be completing the application in good faith, with a genuine intention to reside in the State or Territory to which you are applying.

Note also that if applying for sponsorship of a subclass 475 (provisional) visa you will be subject to a visa condition that requires you to live and work in a regional area of Australia, and that you can anticipate that this will be checked when you apply for permanent residency in due course. 

Employers are no longer able to sponsor individuals for skilled visas

This comment is typically heard in the context of subclass 457 visas – which is the long term temporary residency visa.

It is fair to say that Australia’s Immigration Minister has sought to change 457 visa sentiment amongst employers by issuing “clarification” in the last few months in the form of policy guidance to his Department. This has included (amongst other things) requiring employers to more clearly demonstrate the benefit to Australia arising as a consequence of the employment of the nominated individual following the grant of a 457 visa.

However, this amendment of policy settings has not caused a cessation of 457 visa grants – far from it. Indeed, Go Matilda has had many 457 visas granted in the last few months.

Even if I obtain a visa, the global economic crisis means I won’t be able to get a job when I move to Australia

The Australian economy has held up remarkably well in comparison with other first world countries, and indeed has thus far avoided a technical recession. This is quite possibly due to its closer associations economically with South East Asia and China, and the financial boost associated with a growth in population, most notably through the large migration programs of the last few years.

By contrast the UK has found itself more closely aligned with the fortunes of the US, and with the collapse of wealth through banking and housing failures.

No-one can say that any one individual will be certain to secure employment when they move to Australia. However, the prospects for work are generally considered to be brighter in Australia than in the UK, US, etc, which should augur well for intending migrants.

I won’t be able to sell my house and the GBP – AUD exchange rate is awful

Yes, the economies of the world are in a dreadful state at the moment, and the bottom has fallen out of the housing market in the UK.

However, there is no requirement for you to move to Australia as soon as your visa is granted – permanent skilled visas require you to enter Australia by an initial entry date, which is usually 12 months from the earlier of the date of police clearance certificates and the date medical examinations were attended.

That required initial entry can be on a holiday, and the permanent move can be a few years later – at any time up to 5 years after visa grant – by which time we suggest the economies of the world and the currency exchange rate will be somewhat different, most probably better than they are today.

This means that applying for a skilled visa now rather than waiting could actually mean that you find yourself migrating at a better time than those who have been granted their visas in the last 12 months.

If you are a skilled individual and are contemplating a move to Australia some of the above issues might have crossed your mind.
If you would like to talk about your concerns and to discuss the migration process more fully please contact us.
Go Matilda has many years of experience assisting with Australian visa applications, and we will be pleased to have a free initial discussion about your situation, your visa strategy, and how we might help, after which we can send you a no obligation proposal as to our fees.

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Hike in Visa Application Charges from Next Month

Intending visa applicants should move quickly if they wish to avoid the significant increases in Australian Visa Application Charges that come into effect on the 1st of July, 2009.

The Federal Budget was handed down last month, and included in the various Budget papers is reference to increases of 20% in VACs applicable to visas granted under the skilled migration program and the family program.

For example, the main VAC for general skilled visas is presently A$2,105. Intending skilled migrants can therefore anticipate a saving of more than $400 if they can submit a valid visa application before the end of this month (June 2009).

Cost savings of a similar sum are likely to be available to applicants for Spouse visas, Remaining Relative visas, and Business Skills visas.

It should also be noted that the requirements for the lodgment of valid visa applications are generally limited to the submission of the relevant visa application form, payment of the Visa Application Charge, and any other DIAC form as is applicable to the visa that is being applied for – plus a skills assessment classification letter where one is applying for an offshore general skilled visa.

In other words, other documentation in support of the application can be submitted later – and (we suggest) should be if a saving of more than A$400 is available.

If you are intending to move to Australia and would like to lodge your visa application quickly in an effort to save money please contact us. Go Matilda has many years of experience assisting with Australian visa applications, and can prepare application paperwork quickly in an effort to lodge a valid application so that you lock into this year’s Visa Application Charges.

Source  :  www.gomatilda.com 

Author:

Alan Collett

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Australia Extends Validity Period of Retirement Visas

In a welcome move, the Australian Government has said it will legislate to extend the validity period of subclass 410 Retirement visas to 10 years, and remove the working restriction on these visas.

Subclass 410 Retirement visas ceased to be available to new applicants at the end of June 2005, but there are nevertheless some 8,700 410 visaholders in Australia at the moment.

The 410 visa is a long term temporary residency visa, with an initial validity period of 4 years. Initially renewals of this visa were required every 2 years, and there was a no work condition attaching.

Work rights were relaxed in 2003, and relaxations to the health requirements upon renewal of 410 visas were announced later that year.

In 2005 the rollover period for 410 visas was extended from 2 years to 4 years.

Successive Immigration Ministers appear to be sympathetic to the position in which Retirement visaholders find themselves. Many 410 visaholders are now long standing members of Australian communities, and granting permanent residency is a natural next step – the present Minister appears willing to listen to representatives of the 410 cohort, and in extending the renewal period to 10 years is (we would submit) providing quasi-permanent residency to affected individuals.

Full access to Medicare appears to be the main issue with this visa category, together with an ongoing requirement to maintain private health insurance.Indeed, with temporary visaholders being able to structure their personal tax affairs such that overseas source income (including UK source pensions) are not subject to tax in Australia, some would contend that 410 visaholders are in a good place visa and tax wise.If you are a subclass 410 visaholder and would like to discuss your personal tax and financial position please contact us at our Perth or Geelong office. Go Matilda Accounting and Tax is one of the few firms of advisors that have consultants with knowledge across the UK and Australian jurisdictions, and are therefore ideally placed to assist with the preparation and lodgment of UK and Australian Tax Returns, and to provide strategic advice on personal tax planning. We also recommend that Retirement visaholders visit the internet discussion group that lobbies for the interests of individuals holding subclass 410 visas – British Expat Retirees In Australia, or BERIA: see the weblink below.

http://groups.yahoo.com/group/BERIA/  Source : www.gomatilda.com

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Arthur Marshall selling his home in Mandaruh

FORMER politician and tennis ace Arthur Marshall is selling his Mandurah canal home to move back to the city. 

The one-time TV sports commentator and father of Channel 9 newsreader Dixie Marshall said his house of 10 years was “on the best block on the canal” because of its dual water views.

“From a canal’s point of view it is on what is called a T-junction. You look right, left and ahead and all you have are water views,” he said.

With an estuary to the west and the canal to the east, every room in the home has a water view.

Two studies, a bedroom and the open-plan lounge, dining and kitchen are on the ground floor.

Tall windows reach to the second storey, allowing breathtaking water views. A wide entertaining area leads to a private jetty.

There are three bedrooms upstairs, including the master with ensuite, walk-in robe and balcony overlooking the canal.

The other bedrooms have built-in robes and a shared main bathroom.

A lounge with a balcony makes it ideal for guests or a teenagers’ retreat.

“I asked the architect to make it feel like you were on a ship and when sitting in the lounge upstairs, it is just like it, with water everywhere,” Mr Marshall said.
The home has airconditioning, an alarm and double lock-up garage.

“One of the best things is the huge reserve next to the house,” Mr Marshall said. “Not only is it great to kick a footy with the grandkids and go for a walk, but it allows for plenty of visitor parking.”

72a Waterside Drive, Dudley Park
$1.95 million
Four-bedroom, two-bathroom canal home with water views, open-plan living area, upstairs lounge and private jetty.
Agent: Peter Lindsay 0429421942, Elders Real Estate Mandurah 95359111

www.news.com.au

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