Question: Is turnover a requirement for a 457 business sponsorship? If so, how much do I need?

Technically, turnover is not a requirement that is legislated under the 457 program. Therefore, there is not any financial threshold in relation to the turnover required in order to sponsor someone under the 457 visa program. However, one thing to note is that even though turnover is not a legislative criteria, Immigration will still assess the overall genuineness and the ability of the business to afford a new employee.

If you are looking to apply for a business sponsorship approval under the 457 program, here are two things to take into consideration for your business or organisation:

1. Can the business afford a new employee? (Meaning does the business have sufficient cash-flow for a new hire)
2. Can the business offer a salary that is equivalent or higher than the market rate offered for the job / occupation?

If the answer to the above two questions are “yes” then the business is looking good to potentially be approved as a 457 business sponsor.

It is critical to consult with professionals who can discuss your business financials and advise you appropriately on the prospects of success and instruct you on what steps need to be taken (or planned) to achieve a successful outcome.