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TSS Sponsored Work Visa and Global Mobility

The new TSS Sponsored Work Visa and challenges for Global Mobility

Australia has a new visa for highly skilled overseas sponsored workers as well as tighter criteria for the permanent sponsored visa pathway. There are no doubt higher associated government fees. The relocation industry is also evolving and constantly responding to global shifts, new technology with the ever present cost/ budget constraints.

Companies are expanding globally as new opportunities arise with countries like Australia welcoming the introduction of innovative technology-driven products and services being rolled out seemingly moments after their launch overseas.

There is a real need to move the workforce ever more quickly and efficiently to exploit these opportunities. So how can we best navigate and assist those organisations, seeking to bring quality skilled workers to Australia in the most effective manner?

Here is what to expect in global mobility over the next two to three years:

  • The further rise of global expansion as small business harnesses technology to take their goods and services to places in a way which would hitherto have seemed impossible and with this expansion will come a greater reliance on experts who will make quick decisions possible.
  • The expectations of these younger, faster moving companies means that the relocation assistance they seek will need to be delivered seamlessly first time, and there will not be a second chance if things do not meet expectations; they will expect that the information they seek about the move is correct, comprehensive and that those managing the move will respond at times convenient to them.
  • Companies will be looking for ways to curb costs and invest in expansion. Many cost savings over the past few years have concentrated on reducing the cost for the provision of a service to such an extent that the resulting service has left additional costs in its wake.
  • Smarter ways of reducing costs without jeopardising the quality of service will replace the low price/bad service model with all the hidden costs. Whereas previously relocatees would arrive at their destination, spend time in short term accommodation and have a full blown home and school search service, destination service provides are already seeing an increase for singles and couples of an orientation, followed by unaccompanied services home search service, thus reducing costs and time in short-term accommodation.
  • Information apps such as ‘Applocation Australia’, supplement the relocation experience allowing relocatees to access information anywhere on their phones. Cookie cutter relocations will be replaced by relocations allowing for greater flexibility and tailored solutions within a given budget. The value of expertise in assisting relocatees to save time better spent on work matters, is becoming more important as key staff demand high touch personalised support and shrinking global mobility teams, seek reliable experts to alleviate their work load.
  • A shift in thinking around moving personal items and the rise of moves where there is very little furniture and white goods being moved and items are being bought online pre-arrival. Companies are realising that to move goods from origin city to destination and back again, three years later does not make sense particularly for singles and couples, who are not emotionally attached to their furniture. Where surveys are required, the uptake of an app to video, of what needs to be moved, avoiding the time of a surveyor and allowing the person moving, to do the survey at a time suitable to them, is becoming increasingly welcome.
  • Insurance for moved goods is increasingly sourced online rather than always through the removalists.

These are exciting times and as technology advances are changing many industries, into the future the one unchanging thing is the value of expertise, of heeding the advice of your trusted relocation specialists – Elite Executive Services and Migration Consultants Australia, experienced migration consultants. Contact our respective offices for a confidential meeting.

AS A NEW MIGRANT TO AUSTRALIA ARE YOU THINKING OF PURCHASING A HOME?

WHAT ARE THE DO’S AND DON’T’S REGARDING TAKING OUT A MORTGAGE?

Understanding how the various everyday Australian systems work is difficult and settling into a home, especially if you plan to buy, can be a daunting process.

To purchase a home in Australia you must follow quite a structured process and one of the most complicated (and often very stressful) parts of this process can be organising your finance. It important to speak to a mortgage broker that intrinsically understands the unique set of challenges a migrant goes through when setting up a new home.

The right loan amount – how much should I borrow?

‘How much can I borrow?’  Is one question just about every client thinks to ask!

But it’s not the right question. A better one is ‘How much should I borrow?’ And this is where a good broker can be of most help – to ensure you understand the right loan amount for your individual needs.

The risk in choosing the wrong loan amount

It’s a scenario that plays out all too often – people overextending on a purchase with a ‘buy now and worry about the consequences later’ mentality. It causes a great amount of financial pressure and stress; all of it unnecessary.

While banks have measures in place to avoid borrowers overextending, they’re still in the business of making money … by lending it to you!

A suitable home loan is measured by the balance between:

  1. Being able to purchase a property, and
  2. Being able to comfortably meet the repayments

Steps to working out right loan amount

Loaning up to your maximum borrowing power will always be a risk if you are not familiar with your cash flow. To familiarise yourself, pick a 6 to 12 month period and review your cash flow over that time. Then realistically ask yourself these questions:

  • How much do you need to maintain the lifestyle you want?
  • Do you have a safety net of savings (a store of a few months’ worth of loan repayments in case something happens and you can’t make one or two)?
  • Will you have any major life changes in the foreseeable future (ie starting a family, changing careers)?
  • Do you have to significantly change your lifestyle to take on the loan? If so, are you up for making those sacrifices?
  • What would happen if interest rates rose by 1 or 2%?

Over-borrowing causes immense stress. You end up spending more time wondering how you’re going to pay your mortgage each month, than enjoying the beautiful property you’ve worked hard to purchase!

A good mortgage broker is indispensable in helping you determine the right loan amount for you.

Boutique Mortgage Broking business, Professional Partners was established in 2004, by business partners Sean and Craig, both migrants from South Africa, one an accountant the other an actuary. They encountered a number of challenges when adapting to life in Australia and would love to make life a little easier for others.

For an obligation free chat, you can contact them via https://ppartners.com.au/