The Morrison government quietly began prioritising Visas for ultra-wealthy foreign investors late last year
CURRENTLY we are being distracted by ‘The Boy in the Bubble’ …
AND on Women marching for Justice … we heard:
“Mr Speaker, not far from here, such marches, even now, are being met with bullets, but not here in this country, Mr Speaker.”
ARE we in Toad territory?
ARE you aware that this government favours Ultra High Net Worth foreigners flush with cash over all others?
Apparently the Sc.mmo government quietly began prioritising VISAS for UHNW foreign buyers in late 2020!
• to prioritise investor visas over those of foreign workers in critical sectors during the pandemic
Allegedly to inject these foreign funds into our economy
-increased the cap on investor visas with approval times slashed
-with an influx of foreign property buyers
-then Immigration Minister Alan Tudge directed Home Affairs to prioritise investor visas; those with $5M to invest conferred top status; to fast track to Permanent Residency
-Home Affairs employees instructed to secondarily assess those with $1.5M or more along with Business Innovation and Investment Program Visas (BIIP)
–pandemic 408 Visas to maintain personnel e.g. in healthcare are secondary to investment
–government doubled annual cap for investor visas from 6,800 to 13,500
MEANWHILE … 40,000 AUSTRALIANS REMAIN STRANDED OVERSEAS!
Juwai IQI reported in 2019-20 more than 1500 applicants; China and Hong Kong 88.5% of Significant Investor Visas
-despite the talk of innovation and business investment it is the Australian property market that draws foreign attention
REMEMBER … Sc.mmo wrote the policy for the developer lobby, The Property Council of Australia prior to entering politics …
-in the rising market these foreign investors are gaining residency; many coming all at once with PR Visas granted in record time!
-without the PR Visa these foreigners have to pay stamp duty; get FIRB approval; for properties of $6 – 8M equates to $500,000 in fees