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The Weekend Neos Kosmos : 29 April 2017
6 THE WEEKEND NEOS KOSMOS | SATURDAY 29 APRIL 2017 DIGITAL.NEOSKOSMOS.COM Bank of Sydney awarded 5-star CANSTAR ratings The bank’s EverdaySaver, SmartNet, Student Savings accounts and Home Loan package have been recognised for their outstanding value Bank of Sydney has been awarded 5-Star CANSTAR ratings for Outstanding Value for its Student Savings account, and has retained the rating for their EverydaySaver and SmartNet accounts, and Owner Occupied Expect More Home Loan PAYG. "Retaining a Five Star Rating for Outstanding value for our EverydaySaver and SmartNet accounts for the fourth consecutive year, is a genuine acknowledgement that we deliver on our promises to provide our customers with competitive products and premium service," said Bank of Sydney's CEO Miltos Michaelas. "Most importantly, this is a recognition of our steady and focused effort over the years to be in a leading position for the best interest of our customers." Launched in May 2013, the bank's EverydaySaver was recognised as one of the best accounts available in the Australian market, and is unique in that it offers a high interest rate, with $0 account keeping fees, free unlimited withdrawals from rediATMs and EFTPOS transactions. Meanwhile its highly rated home loan package, which is ultimately designed to help customers buy their dream home was praised for its competitive interest rate, 100 per cent home loan offset account, and a number of other features and benefits. For further information and enquiries, visit banksyd.com.au Official Australian and Greek govt delegations in talks with Emirates At the Arabian Travel Market this week, Emirates Chairman and Chief Executive Sheikh Ahmed bin Saeed Al Maktoun was visited by two official government delegations from Australia and Greece. Leading the delegation from Australia was Minister for Trade, Tourism and Investment, Steve Ciobo MP, Australian Consul General and Senior Trade Commissioner for Middle East and North Africa, Gerard Seeber, and Transport Counsellor Shona Rosengren. Together they discussed the airline's services to Australia, and their ongoing contribution to trade and tourism, along with their subsequent growth in the region. From Dubai, Emirates currently operates 77 flights per week to Sydney, Melbourne, Brisbane, Adelaide and Perth, and since commencing has carried over 27 million passengers on its Australian routes resulting in a $30 billion boost to the country's annual export earnings from tourism alone. Meanwhile, the airline is also Australia's second largest international cargo carrier and in the last financial year carried 124,000 tonnes. Also meeting with the Sheikh was the Greek government delegation, during which they discussed further opportunities to increase tourism between Greece and The death of the 457 visa (FAQ) Australia’s Prime Minister Malcolm Turnbull. PHOTO: AAP IMAGE/LUKAS COCH ANDREAS ATHANASIOU On Tuesday 18 April, Australian Prime Minister Malcolm Turnbull along with Minister of Immigration and Border Protection Peter Dutton announced the end of the Temporary Work (Skilled) visa (Subclass 457) commonly known as the 457 visa, effective March 2018. The most frequently asked questions are answered below: What happens to the lists that contain all the different occupations that can be sponsored? The Consolidated Sponsored Occupation List (CSOL) will be renamed the new Short-term Skilled Occupations List (STSOL) and will be updated every six months based on advice from the Department of Employment (effective immediately). The other occupations list used for skilled migration, the Skilled Occupations List (SOL) will be renamed the new Medium and Long-term Strategic Skills List (MLTSSL). This list will contain occupations that have been assessed as being of high value to the Australian economy and aligning to the government's longer term training and workforce strategies (effective immediately). Has the occupation list actually changed? Yes. The occupation list has been significantly condensed from 651 to 435 occupations, with 216 occupations removed and access to 59 other occupations restricted (effective immediately). The STSOL will be further reviewed based on advice from the Department of Employment. The MLTSSL will be revised based on outcomes from the Department of Education and Training's 2017-18 SOL review (effective 1 July 2017). Has the duration of the 457 visa changed? For certain occupations, yes. The maximum duration of 457 visas issued from this date for occupations that are on the STSOL will be two years. Occupations on the MLTSSL will continue to be issued for a maximum duration of four years (effective immediately). What are the changes on the English language requirements for the 457 visa? The current English language salary exemption threshold, which exempts applicants whose salary is over A$96,400 from the English language requirement will be removed (effective 1 July 2017). What are the changes to the training benchmarks for employers/sponsors? Policy settings about the training benchmark requirement will be made clearer in legislative instruments to come (effective 1 July 2017). Do I now need to provide evidence of a criminal record? Yes. Provision of penal clearance certificates will become mandatory. This may include Australian and/or overseas police certificates (also known as a penal clearance certificate in some countries) (effective 1 July 2017). Do I need to provide my tax file number? Yes. The Department of Immigration and Border Protection (DIBP) will commence the collection of tax file numbers for 457 visa holders (and other employersponsored migrants), and data will be matched with the Australian Tax Office's records to ensure that visa holders are not paid less than their nominated salary (effective 31 December 2017). Anything else that may affect the sponsors? Yes. The DIBP will commence the publication of details of sponsors sanctioned for failing to meet their obligations under the Migration Regulation 1994 and related legislation (effective 31 December 2017). So what happens in March 2018? What will the replacement be called? From March 2018, the 457 visa will be abolished and replaced with the Temporary Skill Shortage (TSS) visa. The TSS visa will comprise two streams: a Short-Term stream of up to two years, and a Medium-Term stream of up to four years. What are the differences between the TSS Short-Term and MediumTerm visas? The TSS Short-Term visa stream is designed for Australian businesses to fill skill gaps with foreign workers on a temporary basis, where a suitably skilled Australian worker cannot be sourced. This visa lasts up to two years. It will include the following criteria that must be met at the time of application: • Renewal: capacity for visa renewal onshore once only. Any subsequent visas will most likely need to be applied while the applicant is offshore. • Occupations: for non-regional Australia, the STSOL will apply. For regional Australia, the STSOL will apply, with additional occupations available to support regional employers. • English language requirements: a requirement of an International English Language Testing System (IELTS) (or equivalent test) score of 5, with a minimum of 4.5 in each test component. • Genuine entry: a genuine temporary entrant requirement. The TSS Medium-Term visa stream allows employers to source foreign workers to address shortages in a narrower range of high skill and critical need occupations, where a suitably skilled Australian worker cannot be sourced. This visa lasts up to four years. It will include the following criteria that must be met at the time of application: • Renewal: capacity for visa renewal onshore and a permanent residence pathway after three years. • Occupation lists: for non-regional Australia - the MLTSSL will apply. For regional Australia - the MLTSSL will apply, with additional occupations available to support regional employers. • English language requirements: a requirement of a minimum of IELTS 5 (or equivalent test) in each test component. Any further eligibility criteria that will affect both Short-Term and Medium-Term streams? Yes. They include the following criteria that must be met at the time of application: • Work experience: at least two years'
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6 May 2017