The end of the financial year (EOFY) is always a busy time for Australian businesses. Between payroll, budgets, contracts and planning for the year ahead, it can be easy to overlook visa matters. 

But if your business sponsors skilled workers, or you’re thinking about sponsoring them in the new financial year, EOFY is an important time to check whether your workforce and visa plans are still current. 

This is especially vital in 2026 as skilled visa income thresholds will increase from 1 July 2026, and will affect businesses planning to nominate employees under employer-sponsored visa pathways.  

As part of your strategic workforce planning, our EOFY visa checklist can help you review your current sponsorships and prepare for future staffing needs. It gives you practical steps to take before the EOFY, especially if your business expects to grow, needs to fill skills gaps or wants to retain key overseas workers in the next financial year.  

1. Check your employees’ visa expiry dates  

If you have employees on temporary visas, now is the time to check when those visas expire. 

Leaving this too late can create stress for both your business and your employee, especially where a new employer-sponsored visa or nomination may be needed. In these cases, you may need time to prepare the nomination, complete Labour Market Testing, gather documents and review whether the role still meets current visa requirements. 

If a new nomination is required, we recommend starting this process around three months before the employee’s visa expires. Even a month or two out is better than leaving it until the last minute. This can give you more time to prepare the application properly and respond to any issues before the expiry date gets too close. 

This is also a good time to check whether your employee may be eligible for another employer-sponsored pathway, including the Skills in Demand visa or, in some cases, a permanent employer-sponsored visa. 

2. Review contracts and salary arrangements 

EOFY is also the right time to review employment contracts, especially for sponsored employees. 

For employer-sponsored visas, salary is not just an HR matter. It can affect whether a nomination meets visa requirements. Employers generally need to show that the sponsored worker will be paid at least the relevant income threshold and the annual market salary rate for the role. If you currently have sponsored employees, check they’re being paid the correct base salary. 

From 1 July 2026, the skilled visa income thresholds will increase by close to 4%. This affects the: 

• Skills in Demand Visa – Core Skills Stream (subclass 482)  
• Employer Nomination Scheme (ENS) (subclass 186)
• Skilled Employer Sponsored Regional Visa (subclass 494)

The income threshold increases to $79,499. 

• Skills in Demand Visa – Specialist Skills Stream (subclass 482) 

The income threshold increases to $146,717. 

These changes apply to new nomination applications lodged from 1 July 2026. 

If you have candidates ready to be sponsored, lodging nominations before 30 June 2026 may mean they’re assessed under the lower salary threshold. For businesses with candidates ready to go, it’s a practical way to reduce cost pressures and avoid unnecessary delays. 

3. Make sure employee and company records are up to date 

A strong visa application depends on accurate information. Before the end of the financial year, check that your employee and business records are current. This may include: 

• employee contracts and position descriptions 
• salaries and payroll records 
• business registration details 
• organisational charts 
• financial records 
• contact details for key business representatives 
• evidence of Labour Market Testing, where required 

Small inconsistencies can slow down an application or create unnecessary questions. Taking the time to review your records now can help you avoid delays when you are ready to lodge. 

4. Check whether any business or role changes need to be reported 

If you are an approved sponsor, your responsibilities don’t end once the visa is granted. You must continue to meet various obligations. This includes notifying the Department of Home Affairs about certain changes, such as if a sponsored employee stops working for the business, or if the business becomes insolvent, goes into administration or ceases to exist as a legal entity. Some changes must be reported to the Department within 28 days. 

You should also review whether the sponsored employee is still working in the role they were nominated for. If their duties, location or employment arrangements have changed significantly, you may need migration advice before making further changes. 

This is one area where employers can unintentionally make mistakes. A promotion or restructure may seem straightforward from a business point of view, but it can have visa consequences. 

5. Plan ahead if you expect to sponsor workers in the new financial year 

If your business is already facing skills shortages, now is the time to think ahead. 

Employer sponsorship can be a valuable way to retain skilled workers and fill roles that are difficult to recruit for locally. But the process involves more than choosing a candidate. You may need to consider the correct visa pathway, salary requirements, Labour Market Testing, occupation eligibility, sponsor obligations and timing. 

The earlier you begin, the easier it is to prepare a comprehensive application and avoid last-minute pressure. 

Need help preparing before 1 July? 

With skilled visa income thresholds changing from 1 July 2026, EOFY is the right time to review your current employee sponsorships and future sponsorship plans. 

If you have a candidate ready for employer sponsorship, lodging before 30 June 2026 could help you avoid the new salary threshold increases. But applications still need to be carefully and accurately prepared to best chance of success. This is where speaking with a migration agent is highly beneficial.  

At Migration Ways, we can review your business needs, check your current sponsored employees’ visa details, as well as help you understand the best pathway forward for proposed skilled sponsorships. Contact one of our Migration Ways experts and book a consultation before the end of the financial year.