Fed Govt announces new visas for ageing migrant parents – for $20,000

Caring for elderly migrants is not a cheap exercise. Last year a Productivity Commission report released found the average lifetime cost of a single parent visa holder is between $335,000 and $410,000. Now the Govt has revealed its solution. Under new visas introduced by the Turnbull Government, up to 15,000 people will be able to pay up to $20,000 to bring their parents to Australia for up to a decade – but they will never be allowed to settle here permanently. Their children would also have to cover the bill for private health cover and act as a ‘financial guarantor’ on any extra healthcare costs. The new scheme could certainly solve some of Treasury’s spending woes. If all 15,000 places are filled, they’re expected to bank $150M alone in the first year.