* Australia's 457 temporary foreign worker scheme will be scrapped and replaced by two new visa streams;
* The 95,000 people already in Australia on 457 visas will not be affected;
* The 457 scheme will be replaced by two new temporary skilled worker visas - a short and medium term program;
* The short-term, two-year visa will have an optional two-year extension available before a visa-holder must leave the country to apply again;
* The short-term visa program will offer no prospect of permanent residency;
* The number of occupations targeted under the scheme will be reduced by 200 compared to roughly 650 classifications included in the 457 visa program;
* A medium-term, four-year visa program will target higher skilled workers from 183 classifications;
* These workers will be able to apply for permanent residency;
* The four-year visas will require a higher standard of English language skills;
* All skilled worker visa applicants will need to pass criminal checks;
* Two years work experience will be required for both visas (which is not the case at the moment);
* In the majority of cases, mandatory labour market testing will be required; and
* Applications fees of $1150 for two-year visa and $2400 for four-year visas will apply.