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Departmental Information

Changes to the subclass 410 temporary Retirement visa regulations to update the financial thresholds for first time subclass 410 visa temporary Retirement visa applicants

1 January 2004 - Legislation change

Client summary

From 1 January 2004, immigration law will be amended to update the financial requirements for applicants seeking an initial (first time) subclass 410 temporary Retirement visa. These increases will not affect existing subclass 410 temporary Retirement visa holders.

Technical details

Additional information:

  • From 1 January 2004, first time subclass 410 temporary Retirement visa applicants (not second or subsequent subclass 410 temporary Retirement visa applicants) will be required to meet higher financial thresholds, updated in line with inflation.

  • The increased financial requirements will need to be met for the initial application only and not at time of second or subsequent visa application.

Transitional arrangements: The proposed legislation changes to the subclass 410 temporary Retirement visa are to apply to all subclass 410 temporary Retirement visa applications made on or after 1 January 2004.

Forms: Updated information forms will be available from 1 January 2004 in hard copy and on the DIMIA website. No additional new forms will need to be designed for subclass 410 temporary Retirement visa use.

Instructions: PAM3 will be updated to reflect the updating of financial thresholds.

Effect on delegations: Nil

Effect on systems:Nil