Ryanne Klein of PwC provided a brief tax update, indicating there were many changes but she focused on the following:
- Coronavirus–the tax side
- Another Draft Tax Ruling dealing with employee transport expenses
- SGE penalties can apply to your mobile employee reporting
- Can Aussie outbounds get the main residence CGT exemption - short answer appears to be “no”. Serious financial consequences that need to be considered in terms of timing of selling Australian property.
- Residency of outbound Aussies–another area that has complex issues and again the need to get good advice was stressed
As mentioned in the invitation email, after almost three years of change to the employer sponsored immigration programs, employers continue to face challenges in recruiting and retaining talent from overseas in the face of restrictive government policies. Ben Lear of Fragomen provided an overview of the latest changes to the migration program and discussed some of the common challenges with the TSS and 400 visa programs.
An overview of two new programs introduced at the end of 2019 was provided; Global Talent Independent and Global Talent Employer Sponsored. These visas can assist in attracting top talent and offering pathways to permanent residency, and the new Regional Visa framework which provides options for business with regional operations.
What is the Global Talent Independent?
- Formally launched by Minister Coleman 4 November 2019
- Part of the Government’s Innovation Agenda
- Input sought from the Industry Advisory Group (IAG)
- Established in recognition that internationally there is currently intense competition for global talent
- Designed to help Australia compete for the best and brightest migrants from around the world
- Seven priority sectors for the initial phase of the program but referrals will not be limited to these areas (facilitate skill transfer to the Australian labour market)
Global Talent Employer Sponsored Program was explained in detail too. More information can be found on this link:
Case studies were used to highlight some of the ongoing challenges with the TSS visa program, primarily relating to labour market testing, and the use of 400 visas for short term assignments and interaction with the TSS.
There were several questions put to Ben and the room discussed their concerns around these issues.
Fragomen then kindly shared their detailed slide deck with participants.