What Are the Benefits of Australian Permanent Residency

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While there are a number of compelling reasons why people can choose Australia as a destination to migrate to, the benefits of PR themselves can be unclear. This article will go through some of the benefits that Australian permanent residents receive.

  1. Buy residential property. In most states in Australia, buying a residential property that is not new can only be performed by citizens or permanent residents. This is a policy that was provided to protect the local housing market from foreign nationals bringing funds into the country and acquiring large tracks of existing housing and sometimes even entire neighborhoods which would have the effect of pressuring local residents further away from the CBD. These rules stipulate that international purchasers need to buy brand new residential houses or apartments and also be subject to specific tax surcharges which necessarily drive the market price higher than what the local residents would have to pay. Consequentially, once you become a permanent resident, the following benefits apply. Firstly, you no longer incur any tax surcharge for the purchase of the property. Secondly, you can buy second-hand residential property, and thirdly, if you are purchasing your first home in Australia, you may even qualify for specific tax incentives.
  2. Hold unrestricted work rights. Once you become a permanent resident, you cease being subject to work restrictions and can find a job in any occupation. Additionally, most Australian based organizations hire permanent residents on an almost exclusive basis. In some instances, they may not even consider your CV unless you indicate that you are a permanent resident in Australia.
  3. A permanent resident can send their child to a public education system for a subsidized or free cost.
  4. Child care rights. Child care is very much in demand and parents can reserve places in child care several years in advance. Consequentially, the price of child care can be quite inflated specifically in high-density areas. Once you become an Australian permanent resident, you become eligible for child care rebates under Australia’s social entitlement system. A child care rebate assists with the cost of the child care fees and in some cases, can cover for up to 50% of your expenses for child care up to an annual of to be confirmed per child. There is a range of additional child care rebates available as well including the child care benefit which is a direct cash payment to help with child care cost. Once you are settled in Australia, if you meet the income test, you will qualify these benefits immediately.
  5. Enroll in Medicare. Like the British health service, Australia has a world-class medical health care system. This is underpinned by the Medicare program which is a socialized health care system run and controlled by the federal government across the country. The Medicare system allows for free public hospital care and a range of rebates for particular medical services and certain prescription medications. The vast majority of medical clinics in Australia provide a rebate through Medicare or a free consultation. In higher-tiered medical health clinics, there may be a gap between the fee you are required to pay, and the level of rebates provided through Medicare. Additionally, under the Medicare program, mandatory immunization is provided free of charge and is mandatory for every resident. Once PR is approved, (or alternatively, in certain cases once you have applied for permanent residency,) you will be eligible for enrollment into the Medicare system. If you’re living in Australia and you are a permanent resident, it is quite possible that you may be eligible for social security payments. In some cases, you may need to meet a qualifying residence period or a newly arrived residence period before you can apply for social security payments. If you are unemployed, or below a certain or failed the means test threshold, you may be eligible for social security payments. If you have a family with small children, or if you have a disability, or if you are in a specific crisis, or if you need assistance, then you may be eligible for emergency support payments.

Summit Migration can assist you in your pathway towards permanent residency in Australia. Summit Migration provides free 15-minute general information assistance to all callers. Claim your free telephone consultation today! Call us on: (07) 31777609

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