PHAR LAP
New Member
DIAC have advised that from Friday 30 November, no State or Territory Government is actively participating in arrangements that allow allocation of 5 bonus points to GSM applicants who deposited $100,000 in a nominated deposit for term of at least 12 months under Part 8 of the Schedule 6A General Points Test.
This follows recent newspaper reports alleging a scam involving unauthorised loans to some hundreds of applicants. DIAC has been progressively advising applicants that State Governments were declining to be involved in the arrangements and directing clients to the remaining states involved. We understand that South Australia pulled out last week and is advising clients that it will only honour its letters to individuals who had been invited to lodge a nominated deposit.
The MIA understands that many individual applicants have been in process for lengthy periods will not get the bonus points because, notwithstanding having applied under an expectation that they would be able to deposit funds, they cannot now find a State/Territory Government prepared to continue to participate in the arrangements. Only a very small number of people are likely to have received letters from State Governments allowing them to deposit at least $100,000 in a gazetted designated security for a term of at least 12 months in the name of the applicant or the applicant and family members. Everyone else, regardless of when they lodged their visa application, will miss out on the opportunity to get the 5 bonus points.
DIAC has also advised that there is also no intention to gazette other designated securities (eg Commonwealth Bonds), effectively ending these bonus point arrangements.
(Source: MIA)
This follows recent newspaper reports alleging a scam involving unauthorised loans to some hundreds of applicants. DIAC has been progressively advising applicants that State Governments were declining to be involved in the arrangements and directing clients to the remaining states involved. We understand that South Australia pulled out last week and is advising clients that it will only honour its letters to individuals who had been invited to lodge a nominated deposit.
The MIA understands that many individual applicants have been in process for lengthy periods will not get the bonus points because, notwithstanding having applied under an expectation that they would be able to deposit funds, they cannot now find a State/Territory Government prepared to continue to participate in the arrangements. Only a very small number of people are likely to have received letters from State Governments allowing them to deposit at least $100,000 in a gazetted designated security for a term of at least 12 months in the name of the applicant or the applicant and family members. Everyone else, regardless of when they lodged their visa application, will miss out on the opportunity to get the 5 bonus points.
DIAC has also advised that there is also no intention to gazette other designated securities (eg Commonwealth Bonds), effectively ending these bonus point arrangements.
(Source: MIA)