Migration shake-up for WA mining boom

WA will be able to handpick permanent migrants to service the booming resources sector and other areas of critical need under a massive overhaul of the skilled migration program to be unveiled today.

Under the changes, Immigration Minister Chris Evans will revoke and refund 20,000 applications from would-be skilled migrants and instead give top priority to those who are sponsored by employers and States for high-level jobs.

The overhaul is geared towards making Australia’s skilled migration super-responsive to urgent shortfalls in qualified mining and health sector workers, while also tightening permanent visa criteria for overseas students studying courses in low skill occupations.

Senator Evans will immediately abolish the Migration Occupations in Demand List, which gazettes 106 areas of preferred workers, replacing it by April with a more targeted Skilled Occupations List drawn up by the independent Federal authority Skills Australia in consultation with the States and business.

It means doctors, nurses, engineers and high-value professions and trades will have priority over low-skilled workers such as hairdressers and chefs.

In WA, as yesterday’s Olivier Jobs Index showed, the most sought after workers are in engineering, trades and services, and building.

In a marked departure from the existing skilled migration scheme, States will be asked to draw up their own migration plans to allow fast-tracking of applications for migrants sponsored by States or companies for specific jobs.

The bar will be raised for unsponsored skilled migration applicants, with criteria such as proficiency in the English language, work experience and overseas qualifications to be made tougher.

The overall annual skilled migration intake will remain unchanged at 108,100 people.

The changes are likely to have a significant impact on the burgeoning multi-billion-dollar overseas student market where hundreds of thousands of foreign students have come to Australia to undergo trades training, enticed by the prospect of permanent residency.

The Government believes such courses are skewing the migration program, leaving new permanent residents with poor English and little prospect of finding work in their nominated field of expertise.

Foreign students in Australia studying in areas dumped from the new skilled occupation hit list will be given 18 months after completion of their studies to find sponsorship from an employer or sent home.

The Government believes the new regime will help the clampdown on unscrupulous migration agents, many of whom are Indian-based, who con students into believing completion of an Australian course gives automatic entitlement to permanent residence. 

The bar will be raised for unsponsored skilled migration applicants, with criteria such as proficiency in the English language, work experience and overseas qualifications to be made tougher.

The overall annual skilled migration intake will remain unchanged at 108,100 people.

The changes are likely to have a significant impact on the burgeoning multi-billion-dollar overseas student market where hundreds of thousands of foreign students have come to Australia to undergo trades training, enticed by the prospect of permanent residency.

The Government believes such courses are skewing the migration program, leaving new permanent residents with poor English and little prospect of finding work in their nominated field of expertise.

Foreign students in Australia studying in areas dumped from the new skilled occupation hit list will be given 18 months after completion of their studies to find sponsorship from an employer or sent home.

The Government believes the new regime will help the clampdown on unscrupulous migration agents, many of whom are Indian-based, who con students into believing completion of an Australian course gives automatic entitlement to permanent residence.

Source  :  www.thewest.com.au

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How to avoid an end of financial year tax headache

• Last-minute tips to save on tax
• What to claim, how to file
• Plenty of help on ATO website

HAPPY New Year! Well, almost. With only 24 hours left until the end of financial year, what should you be doing today to ensure that you don’t end up with a big tax hangover tomorrow?

“Don’t forget to pay your expenses,” says Tracey Nicholson, the Assistant Commissioner of Taxation.

“Ensuring that expenses are paid and claimed in the correct tax year can save a lot of headaches in having tax returns amended down the track.”

Ms Nicholson suggests that some top-priority things for taxpayers to do prior to lodging their return include:

• Go surfing! The ATO website, that is.

“There is a wealth of information on the ATO website, both general as well as information that’s specific to various professions,” says Ms Nicholson. “It’s a great place to start your research on what you may be able to claim as a deduction.”

• Spring clean the house to find your receipts.

“At the end of the day you need to keep your receipts to substantiate your claims,” says Ms Nicholson.

• Lodge online.

If you are DIYing your tax, Ms Nicholson recommends the online e-tax process as a great way to complete your return.

“It’s free, and has a great step-by-step process that will help remind you of anything that you have forgotten,” she says.

It can be worth getting professional advice as well though. Bill Keays, founding director of WA-based Hales Keays Chartered Accountants says that in his experience there are a number of tax-related benefits that people sometimes overlook.

“Motor vehicle expenses are often overlooked,” he says.

“You can claim up to 5000 kilometres of work-related use based on a reasonable estimate of business kilometers, without needing to keep a log book. But some people think that if they haven’t kept a log book, they can’t claim.”

Another forgotten area, according to Mr Keays, is depreciation on a rental property.

“Sometimes clients are not aware of how much depreciation they can claim,” he says.

“For taxpayers who have a relatively modern rental property, engage a quantity surveyor to prepare a depreciation report. They will typically save you many times more than their fee due to the deductions they identify.”

But lest you get carried away with all the potential deductions out there, remember that you do need the paperwork to back it up.

“We conduct plenty of audits,”says Ms Nicholson.

“We’re going to have a special focus on truck drivers, sales and marketing managers, sales reps and electricians this year – but any taxpayer has the chance of being audited.”

And while it may be too late for this financial year, consider getting some professional advice for next year’s tax return because sometimes you don’t know what you don’t know.

“There’s usually always some way in which we can save clients extra money, either by identifying deductions or simply getting their tax structures right to start with,” says Mr Keays.

“The Small Business CGT concessions are a great example.

“One of my clients was expecting to pay capital gains tax of approximately $240,000 when he disposed of his business and he ended up paying nothing by applying these concessions.”

Your tax time checklist                                                                                                                                                                                           

To help you get the best tax return possible, here’s a few things to tick off your “to do” list today:

1. Are you eligible for the Superannuation Co-contribution? If so, it’s up to $1,500 of free money.

2. If you use your car for work, don’t forget to estimate your motor vehicle expenses.

3. A 20% tax offset is available for out of pocket medical expenses over $1500.

4. Donations of over $2 made to a deductible gift recipient are tax deductible.

5. The cost of having your tax return prepared is also an allowable deduction.

6. Income Protection insurance premiums can also be a tax deduction.

7. Small business owners who are selling business assets can take advantage of extremely generous “small business CGT concessions.”

8. You can claim up to $300 of work related expenses without the need to have written receipts. However once your claim exceeds $300 you must have receipts for the full amount.

9. Don’t forget all those miscellaneous work expenses such as union fees, seminars, trade journals, software and home office expenses. Even an appointment diary can be deductible.

10. Check the deductions fact sheet for your specific occupation to ensure that you are claiming everything that you are entitled to.

Source  :   www.news.com.au

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