sc494 Skills Australian Fund Levy details
Sc494 visa details
The new Skilled Employer Sponsored regional provisional visa will be commencing from November 16th, 2019.
With the commencement of this new visa subclass, there will be some changes to existing sc187 visa.
The proposed changes are the closure of the sc187 visa with exceptions for specific transitional cohorts.
The new instrument has been released today providing more information on the Skilled Australian Fund Levy, which will be implemented on the new sc494 visa.
If the annual company turnover is less than 10,000,000 the SAF levy will be $3000, and if the annual turnover is more than 10,000,000, it will be $5000.
To calculate the SAF levy for already existing sc494 visa holder, it depends on the number of years left with the sc494 visa. It is calculated using the formula below:
Base amount* 5- Elapsed years in visa period
5
For example: If the applicant has already been on a sc494 visa for a period of 2 years and the employer has a turnover of less than $10,000,000, then the SAF levy needs to be paid by the employer is
3000 * 5-3
5
= $1200
The amount of the nomination training contribution is nil if the nomination is for a sc494 in the Labour agreement and the proposed occupation is a minister of religion or religious assistant.
Source: Federal Register of legislation 0 Migration ( Skills Australians Fund) Charges Amendment (sc494 Visa) regulations 2019 – F2019L00553