• The sponsorship period for start-up businesses has extended from twelve (12) months to eighteen (18) months.
• The notifiable period for sponsors has extended from 10 working days to 28 calendar days.
It is also worth noting that the market salary exemption threshold for nominations has been reduced from $250,000 to $180,000 and this is now in line with the marginal tax rate.
To read more about your sponsorship obligations, click here.
Contact us for further information on these changes.