Month: August 2019
Skilled Nominated Migration (190 Visa) – Live & Work in NSW
Skilled Work on a 190 VisaAustralia’s general skilled migration scheme includes a visa specifically for skilled migrants to permanently live and work in an occupation that is state-/government-sponsored – subclass 190 visa. This does not mean that the government employs an applicant, rather that the skilled migrant’s application receives the support of the state.
Such support means that the state gives an applicant additional points (5 for a subclass 190) towards meeting the migration points-threshold required for this visa.
In order to be eligible for a subclass 190 visa, an applicant must meet certain criteria – be skilled in a suitable occupation on the specific occupation list, be nominated by an Australian state or territory government, meet the points-based system and meet language (English), age, character and health requirements.
Eligible applicants will be aged over 18 and under 45 years, have ‘Competent’ English language skills, pass an occupation skills assessment and accumulate 65 points before an Expression of Interest (EOI) may be approved by a nominating government.
Live and Work in NSW
The NSW Department of Planning, Industry and Environment has stated that “Demand for nomination by NSW is extremely high. The NSW Government will continue to select and invite top-ranking candidates who meet the NSW nomination criteria in occupations on the NSW 190 Priority Skilled Occupation List (NSW 190 List)”.
New South Wales (NSW) has recently – as of 1 July 2019 – adjusted its criteria for some occupations.
First, the NSW Government now uses a system to show the availability of occupations in NSW and this will be regularly updated to reflect the changing needs of skilled labour in NSW.
Second, the NSW Government now requires that for some occupations an applicant must have been living in NSW for at least two years and working in their nominated occupation in NSW for at least one year at the time of applying for a subclass 190 visa.
For occupations with low and limited availability – such as hairdressers, plumbers, accountants and tradespersons, an applicant will need to have a high point measure in order to receive an invitation to work in NSW.
For occupations with high availability – such as cooks/chefs, welfare workers, electricians and vehicle mechanics, an applicant who has already chosen to live and work in NSW will have reduced competition for these positions, albeit still requiring an invitation from government and meeting all application criteria.
To see an occupation’s availability in NSW, head to the NSW 190 Priority Skilled Occupation List at https://www.industry.nsw.gov.au/live-and-work-in-nsw/visas-and-immigration/nsw-skilled-occupations-list/nsw-190-priority-skilled-occupation-list
With the new NSW Skilled Occupation List, introduced in July 2019, containing occupations not previously listed, you may appreciate that there has already been much demand for these positions. At YML Migration, we have advice that:
- Currently, NSW has a total of 3,000 places available for nomination under this programme and a cap of 100 places to be allocated as the maximum amount under any one occupation;
- Occupations listed as “Limited” or “Low” availability only have 1-5 places available for allocation. It is not yet known how many places have been made available under occupations listed under “Medium” and “High”;
- At any point of time, NSW has 40,000-60,000 Expressions of Interest in the queue to be assessed; and
- Priority is being given to those who are able to show a points score of 75 or higher and thereafter to those who have high English scores and finally to those with significant relative work experience.
How can YML help?
Talk to our YML Migration Team today to see how YML Group can assist you with your application to work in NSW. Contact us on (02) 8383 4400 or by visiting the Contact Us page on our website.
Carry forward your unused Concessional Contributions
Since 1 July 2018 a new superannuation contribution rule has been in place: if you have a superannuation total balance of less than $500,000 on 30 June of the previous financial year, you may carry forward your unused concessional contributions from the previous year/s.A concessional contribution is an employer contribution or a personal contribution (claimed as a tax deduction), both possible to carry forward in to the next financial year using the concessional contribution cap rollover rule.
Superannuation contribution caps limit the annual amount that may be contributed to your superannuation account and exceeding a cap may result in the excess contributions being taxed. However, this new rule will enable eligible members to add unused portions of concessional contributions from one year to their super accounts in the next year, for up to five years (after which the unused amounts will expire).
This opportunity not only offers members an opportunity to increase their super balances if they have capacity to do so, it could also open the door to certain tax minimisation strategies, such as reducing capital gains tax that may be anticipated in the future.
The 2019-20 financial year is the first year that you are entitled to carry forward (roll over) unused amounts of concessional contributions.
For example, if you have not used the full concessional contribution cap - $25,000 in 2019 – you may carry forward the unused portion and add it to your next year’s concessional contribution cap - $25,000 in 2020, meaning you bolster your superannuation account by more than the $25,000 cap in 2020.
Any financial year, since 1 July 2018, that your superannuation total balance falls below $500,000 as at 30 June, you may be eligible.
Consider this table showing examples of unused concessional contribution (CC) under the Australian Government’s carry forward rule (assuming basic CC cap of $25,000):
| 2018-19 | 2019-20 | 2020-21 | 2021-22 | 2022-23 | 2023-24 | 2024-25 | |
| Concessional contribution Limit including the Cumulative unused CC for previous year | $0 | $40,000 ($25,000 +$15,000) | $50,000 ($25,000 +$25,000) | $75,000 | $65,000 | $65,000 | $60,000 |
| Actual member Concessional Contributions in the year | $10,000 | $15,000 | $0 | $35,000 | $25,000 | $25,000 | $28,000 |
| Unused General CC cap for year | $15,000 | $10,000 | $25,000 | $0 | $0 | $0 | $0 |
| Unused CC Carry forward amount applied | N/A | $0 | $0 | $10,000 | $0 | $0 | $3,000 |
| Cumulative unused CC cap amount remaining for previous year | $15,000 | $25,000 | $50,000 | $40,000 | $40,000 | $40,000 | $32,000 |
How can YML help?
Talk to our YML Super Solutions Team today to see how YML Group can assist you with your Concessional Contribution CAP Rollover. Contact us on (02) 8383 4400, or by visiting the Contact Us page on our website.
Intelligent Process Automation (IPA) is here to stay
Our future office environment, as near as the year 2025, will consist of humans and robots co-existing more than ever before and business leaders will need to consider how to manage both effectively for best practice.Transitioning to greater workplace productivity by robotics will impact all aspects of the office, particularly morale amongst employees, the general office working culture and productivity levels.
First, let’s consider what intelligent process automation (IPA) can deliver in terms of its capabilities. IPA encompasses artificial intelligence (AI) and all its related technologies, such as robotic process automation (RPA) – a software tool that automatically performs routine data-based tasks; machine learning – a software tool that automates the recognition of patterns in statistical data to perform tasks without instruction; computer vision – a form of automated visual perception of digital images and videos utilised to perform tasks.
IPA is an umbrella term for these computer applications that are engineered to reduce time, mitigate human error and achieve more accurate work task outcomes, all ideally at lower cost than a fully-humanised business can realise.
It is naturally expected that as a company increasingly has as many intelligent robots as people, people will need to learn to adapt to working alongside robots. Company leaders will look to their business management teams to train their employees to collaborate with their robotic counterparts. Collaboration is key here to business success. People will develop complementary skills such as interpreting machine-generated outputs, as well as how to be strategic and creative – empathetic skills which robots cannot execute at this time.
People can teach algorithms to the robotic process and people can conceive of the most appropriate applications for robotic process to fulfil the tasks at hand. Ultimately, it is the ‘human factor’ that makes IPA’s relationship with people a successful formula for businesses. So long as people come to understand the importance of their own role in ensuring robotic automation is utilised congruously, harmony within the workplace may well be reached.
The future office is not one of humans versus robots but rather one of humans and robots cooperating with each other, indeed fraternising, to attain business results not previously thought possible. With scrupulous use of today’s artificial intelligence and technologically-advancing robots, a business’s productivity, time and profits may flourish.
The potential for improved customer relationships and superlative results for customers are enhanced and realistically achieved when humans work collaboratively with robots. The future looks bright when people embrace, not fear, IPA – self-operating machinery – alongside them in the workplace. Where will IPA take your business?
How can YML help?
Talk to our YML Innovation Team today to see how YML Group can assist you with your IPA relationship. Contact us on (02) 8383 4400 or by visiting the Contact Us page on our website.
